India to Chair BRICS 2021 and MSME Roundtable | World news

The BRICS members (Brazil, Russia, India, China and South Africa) agreed to organize a trade fair, an MSME roundtable and two workshops on trade in services statistics to further strengthen economic ties.

A BRICS show will be held from August 16 to 18; roundtable on July 22 and the workshops will be held on July 16 and August 13, the Commerce Ministry said in a statement on Tuesday.

“To deepen and strengthen trade and economy, the events proposed by India have been approved by BRICS members,” he said.

He also said that among the different groups in the BRICS, the Contact Group on Economic and Trade Matters (CGETI) is responsible for economic and trade issues.

The CGETI meeting was held from July 12 to 14. During the three-day meeting, members deliberated on some of the proposals circulated by India.

These proposals included BRICS cooperation on the multilateral trading system; BRICS framework to ensure consumer protection in electronic commerce; Mechanism for resolving non-tariff measures; Cooperation framework for the protection of genetic resources, traditional knowledge and traditional cultural expressions.

“The BRICS members have agreed to push forward India’s proposals to finalize them ahead of the BRICS Trade Ministers’ meeting to be held on September 3, 2021 and to be chaired by Piyush Goyal, Minister of Trade and Commerce. Industry, “he added.

India is the BRICS chair for 2021.

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