The 15th BRICS Ministerial Meeting on Trade and Economic Cooperation Held in Brasília, Brazil

On May 21, the 15th BRICS Ministerial Meeting on Trade and Economic Cooperation was held in Brasília, the capital of Brazil. The meeting was chaired by Brazilian Vice President and Minister of Development, Industry, Trade, and Services, Geraldo Alckmin, with trade ministers or representatives from BRICS member countries in attendance. Li Yongxuan, Deputy Representative for International Trade Negotiations of the Ministry of Commerce, attended the meeting and delivered a speech.

Li Yongxuan stated that in the face of the current global trade tensions, the importance of strengthening economic and trade cooperation among BRICS countries has become even more evident. He emphasized the need to further enhance position coordination, safeguard the multilateral trading system centered on the World Trade Organization and based on rules, openly oppose unilateralism and protectionism, continuously promote trade and investment liberalization and facilitation, and build an open world economy. BRICS countries should make good use of the BRICS WTO agenda consultation mechanism and strengthen cooperation in the reform of the WTO.

Li Yongxuan pointed out that BRICS countries should implement the consensus reached by their leaders, strengthen practical trade and economic cooperation, and develop demonstration projects in areas such as green minerals, electronic bills of lading, standards cooperation, and digital and green transformation, in order to benefit enterprises and the public from all sides and continuously deepen broader BRICS cooperation.

Participants expressed strong concern over the increase in unilateral tariffs and non-tariff measures, noting that such measures distort trade and are inconsistent with WTO rules. All parties agreed that BRICS members should jointly safeguard the multilateral trading system, resist unilateralism and trade protectionism, and protect the legitimate rights and interests of developing members. They also agreed to fully leverage the complementary advantages of their industrial structures and resource endowments, strengthen trade and economic cooperation in emerging areas such as digital economy, green economy, and supply chains, and promote mutually beneficial, inclusive growth and sustainable development.

The meeting issued the "Joint Communiqué of the 15th BRICS Ministerial Meeting on Trade and Economic Cooperation," along with "BRICS Declaration on WTO Reform and Strengthening the Multilateral Trading System," "BRICS Understanding on Data Economy Governance," and "BRICS Trade and Sustainable Development Framework," achieving a total of four key outcome documents.

During the meeting, Li Yongxuan also held discussions with heads of several delegations to exchange views on various multilateral and bilateral trade and economic issues.