GG News Bureau
New Delhi, 28th July. Shri Sunil Barthwal, Commerce Secretary, attended the 14th BRICS Trade Ministers’ Meeting on July 26, 2024, hosted by the Russian Federation as the BRICS Presidency. BRICS’s theme for this year is “Strengthening Multilateralism for Just Global Development”. While thanking the Russian Presidency on bringing forward proposals on contemporary concerns, Shri Sunil Barthwal greeted the new BRICS members (Iran, Egypt, Ethiopia, and the UAE) and commended them on their constructive involvement in discussions this year.
The Commerce Secretary emphasized the importance of strengthening the multilateral trading system, with the WTO at its core, effective Joint Value Chains, expanding interaction among MSMEs, India’s successful story of digitalization and e-commerce, and cooperation among Special Economic Zones.
On enhancing multilateralism, he emphasized the joint efforts to find a solution to long-pending WTO mandated issues, particularly the development element and special and differential treatment.
He emphasized the urgent need to resolve issues such as the permanent solution to public stock holdings, the establishment of a two-tier Dispute Settlement system, WTO Reform to be based on WTO principles and objectives, leading to more responsiveness to emerging economies’ development requirements, and invigorating the WTO through “30 for 30,” bringing in at least 30 operational improvements to the WTO before the organization completes 30 years in 2025. He emphasized the importance of increasing supply chain resiliency through decentralization and diversification, promoting value chain cooperation through the G20 generic Mapping framework for GVCs, and establishing guiding principles for collaboration. In this regard, as an initial step toward digitalization, he emphasized paperless trade, including the digitization of papers such as bills of lading.
He emphasized the importance of collaboration in ensuring affordable access to developing technology for the green transition and climate resilience. On climate-related unilateral steps affecting commerce, the Commerce Secretary voiced concern that such measures negate rights and duties under specific Multilateral Environmental Agreements, violate NDC Principles, and disrespect CBDR principles.
The Commerce Secretary also emphasized the importance of MSME developments and their incorporation into global value chains. While reiterating the Jaipur call for action to improve access to information for MSMEs issued during India’s Presidency in 2023, he praised the Russian Presidency for carrying forward the initiative by attempting to compile certain basic information about MSMEs among BRICS members. Because MSME’s are an essential component of the BRICS Members, the Commerce Secretary emphasized the necessity of cooperation and collaborative efforts for outcome-oriented support for MSMEs. He emphasized the importance of focusing on critical areas such as R&D collaboration, technology transfers, joint ventures, and business development prospects.
The Commerce Secretary emphasized the importance of driving inclusive digital transformation. While referring to India’s success story of building up an open source India Stack of Critical Digital Public Infrastructure as part of its digital industrialization following the core principles of open access, transparency, trust, and respect for data protection and privacy, expressed India’s willingness to share its experience with the BRICS countries on the e-revolution in the domains of payments, e-commerce, national identity, banking, education, etc.
On the Russian presidency’s request for cooperation in Special Economic Zones (SEZs), the Commerce Secretary praised SEZs’ transformative impact in producing jobs, cutting-edge technologies, and increasing exports. He emphasized the necessity of sharing information and best practices in this regard.
In closing, the Commerce Secretary emphasized the necessity of joint efforts and dedication, as well as resilience, unity, and transparency, in facing obstacles based on the principles of compassion, empathy, and understanding, for a common brighter future for the BRICS countries.
The Trade Ministers’ meeting approved the Joint Communique and six result documents addressing the previously listed topics. Further on the sidelines of BRICS TMM, Commerce secretary had bilateral meetings with the Minister for Economic development Maxim Reshetnikov, Member of the Board (Minister) of Trade, Eurasian Economic Commission Andrey Slepnev, Deputy Minister of Industry and Trade Alexey Gruzdev, and Head of FSVPS, Sergei Dankvert of the Russian Federation as well as with the Deputy Minister for the Department of Trade, Industry & Competition, South Africa, Zuko Godlimpi and the Minister of State for foreign Trade, UAE, Thani Bin Ahmed Al Zeyoudi, wherein bilateral trade issues were discussed in brief for their early resolution.
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