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BRICS

BRICS Contact Group on Economic and Trade Issues meeting takes place in Gauteng

Representatives from the association of five major emerging national economies; Brazil, Russia, India, China and South Africa (BRICS) gathered recently for the 17th meeting of the BRICS Contact Group on Economic and Trade Issues (CGETI).

The meeting took place in Gauteng from 1 to 2 March 2018 and was hosted by the Department of Trade and Industry (the dti) to advance practical cooperation on a number of trade and investment related issues.

South Africa is the current chair of BRICS and has identified a number of topics for attention during this period that include intellectual property, quality infrastructure, promotion of value-added trade, cooperation in investment promotion, statistics in the area of trade in services and e-commerce. The meeting also looked at developing a BRICS narrative on inclusive multilateralism, as well as creating a mechanism to track and monitor the progress and status of the various CGETI initiatives.

Another key topic of discussion at the meeting was the efforts in place to further increase intra-BRICS trade, particularly which focuses on manufacturing, mining, engineering, energy and other key projects. The work of the CGETI will feed in to the BRICS Trade Ministers meeting scheduled for July 2018 and ultimately into the 10th Summit of Brics Leaders later that month.