India hosts BRICS trade ministers meet in New Delhi
Ahead of the BRICS Summit, trade ministers met in New Delhi on Thursday and talked about a number of issues including how to boost employment and correct trade imbalances.
Ahead of the BRICS summit this weekend trade ministers from all the BRICS countries met in Delhi.
The meeting was hosted by Commerce and Industry Minister Nirmala Sitharaman and was attended by her counterparts from Brazil, China, Russia and South Africa.
During the day-long deliberation, the ministers adopted the framework for co-operation dealing in small and medium-sized enterprises (SMEs), services, intellectual property rights, trade promotion, non-tariff measures resolution and standardisation.
A number of bilateral meetings were also held during the day with Chinese, Russians and Brazilians.
During the bilateral with Chinese counterpart India raised the issue of mounting bilateral trade deficit and called for greater market access for its Indian goods in Chinese markets.
Commerce Minister also called for expeditious clearances for import of Indian Rice and a ‘Green Channel’ for import of Indian Pharmaceutical products to China – especially those which.
During the inauguration, Commerce Minister Nirmala Sitharaman urged member countries to find innovative ways to push up intra-BRICS trade and Rollback of protectionist measures.
Over 600 exhibitors are showcasing their products and expertise at the BRICS Trade Fair, spread over 30,000 sq. m. of exhibition space. The expected footfall at the 3-day Fair is 10,000 plus visitors.