India (as Chair) will host the 8th BRICS Summit in Goa on 15-16 October
2016.
The BRICS Business Council meets today and tomorrow.
  _____  


 


 

NDTV.png

 

 

Landmark BRICS Framework on Trade Likely To Be Signed On Thursday

 

India will host BRICS trade ministers on Thursday before the BRICS summit in
Goa

 

 

Press Trust of India, NDTV, New Delhi, 11 October 2016

 

An important framework to enhance economic cooperation will be brought into
force when trade ministers of BRICS nations - Brazil, Russia, India, China,
South Africa - meet on Thursday in Goa. The session will be hosted by
India's Commerce and Industry Minister Nirmala Sitharaman who will meet her
counterparts from other BRICS member nations.

 

The ministers will adopt the framework for cooperation in the fields of
small and medium enterprises, services sector, intellectual property rights
(IPR), trade promotion, non-tariff measures resolution and adoption of
uniform standards, according to an Indian official.

 

The participating ministers will also select a template for the BRICS -
single window cooperation which will help boost trade in services. The
decision to adopt a 'single window' assumes more significance as India
recently proposed a trade facilitation agreement in services in the World
Trade Organisation.

 

The meeting on October 13 will be followed by the BRICS summit to be held on
October 15-16 in Goa. Ms Sitharaman will hold bilateral deliberations with
all trade ministers before the summit.

 

The BRICS has emerged as one of the most significant trading bloc in recent
years. Its members host 42 per cent of the world's population, and have a
combined Gross Domestic Product of over 16 trillion dollars. Trade within
the bloc grew to 297 billion dollars in 2014, from 280 billion dollars in
2012.

 

In a first, to promote intra-BRICS trade, India has organized a trade fair
on the same day as the summit. It will provide member nations an opportunity
to showcase state-of-the-art technologies and advances in industrial design
and development.

 

Leaders from BIMSTEC countries (Bangladesh, Myanmar, Sri Lanka, Thailand,
Bhutan and Nepal) have also been invited for meeting and discussion with
BRICS business leaders during the fair.

 

 

From:
http://www.ndtv.com/india-news/landmark-brics-framework-on-trade-likely-to-b
e-signed-on-thursday-1472958

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 



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