BRICS Implementation Roadmap on Trade and Investment related aspects of the “Strategy for BRICS Economic Partnership 2025

Recalling:

  • The endorsement of the “Strategy for BRICS Economic Partnership 2025” by BRICS members during the Russian Presidency in 2020.
  • The areas for action under the purview of the BRICS Contact Group of Economic and Trade Issues (CGETI) as part of the implementation roadmap.
  • The recognition that aspects outside the Trade and Investment agenda will be implemented through respective Ministerial Tracks and Working Groups.
  • The acknowledgment that each BRICS Presidency will determine its priorities.
  • The need to strengthen trade and economic cooperation to achieve the elements outlined in the BRICS Strategy 2025 for strong, sustainable, balanced, and inclusive growth.
  • The recognition of the need to enhance cooperation on the implementation of the UN 2030 Agenda for Sustainable Development.

The BRICS Members Agree to:

  1. WTO Reform and Multilateral Trade System:

    • Support a balanced, progressive, and inclusive WTO reform agenda.
    • Reinforce the role of the WTO in rule-making and promoting predictability, stability, and certainty in international trade.
    • Advocate for an independent, automatic, binding two-tier multilateral disputes settlement system.
    • Urge swift action on the selection process of the Appellate Body (AB) members.
    • Promote constructive negotiations on fisheries subsidies and other WTO issues towards tangible outcomes at the 12th Ministerial Conference (MC12).
  2. Cooperation in Sanitary and Phytosanitary (SPS) Measures:

    • Discuss the establishment of an exchange and coordination mechanism on SPS.
    • Strengthen cooperation through the Working Mechanism on Technical Regulations, Standards, Metrology, and Conformity Assessment Procedures for Cooperation to Facilitate Trade.
  3. Environment and Trade:

    • Fully implement the UNFCCC and the Paris Agreement without using environmental measures to hinder trade and investments.
    • Exchange views and best practices on cross-border and trade-related aspects of climate change measures.
  4. Intellectual Property Rights (IPR) Cooperation:

    • Strengthen IPR cooperation through the Intellectual Property Rights Cooperation Mechanism (IPRCM).
    • Advance the compilation of the Guidebook for BRICS Intellectual Property Cooperation.
    • Coordinate between IPRCM and the High-Level Intellectual Property Cooperation (HIPO) to avoid duplication.
  5. Resilient Supply Chains:

    • Implement the BRICS Action Agenda on Economic & Trade Cooperation.
    • Ensure the resilience and non-disruption of supply chains in goods and services, especially in the context of the COVID-19 pandemic.
  6. Investment Facilitation:

    • Take concrete actions to meet the investment goals set out in the Strategy for BRICS Economic Partnership 2025.
    • Implement the Outlines for BRICS Investment Facilitation.
  7. Trade in Services Cooperation:

    • Explore and dialogue on cooperation in specific services sectors.
    • Exchange views, information, and experience, and encourage collaboration among statistical organizations/agencies.
    • Support capacity building through training and joint research.
    • Implement the BRICS Framework for Cooperation in Trade in Professional Services.
  8. Customs Cooperation:

    • Develop and strengthen customs cooperation, including on authorized economic operators and the compatibility of national “single window” mechanisms.
    • Combat under-invoicing or mispricing through seminars and workshops.
  9. Infrastructure Development:

    • Collaborate and share knowledge on social infrastructure financing and the use of digital technologies.
  10. New Development Bank (NDB) Strategy:

    • Develop the NDB General Strategy for 2022-26, focusing on mobilizing private capital, co-financing with other MDBs and DFIs, and financing social infrastructure projects using digital technologies.
  11. Micro, Small, and Medium-sized Enterprises (MSMEs) Cooperation:

    • Promote trade and economic cooperation among MSMEs and their integration into regional and global value chains.
    • Encourage MSME participation in international exhibitions/fairs and explore tie-ups among BRICS MSMEs.
    • Organize webinars, virtual roundtables, and joint training programs on entrepreneurship development and capacity building.
  12. Investment Facilitation for MSMEs:

    • Exchange views on investment facilitation measures to improve MSME participation in BRICS economic activities and restore international investment flows.
  13. Digital Gap Bridging for MSMEs:

    • Work to bridge the digital gap to transform the business ecosystem of MSMEs in BRICS countries.
    • Assess opportunities and challenges of using digital technologies, including AI, to support trade and investment and MSME integration into global value chains.
  14. E-commerce and Consumer Protection:

    • Accelerate e-commerce development to contribute to seamless global trade and business conduct.
    • Hold events on consumer protection in e-commerce and consider organizing information campaigns on key

      consumer protection issues.

      1. Digitalization for Industrialization and Inclusive Growth:

        • Recognize the role of digitalization in industrialization, promoting inclusive economic growth, supporting global trade, and achieving the SDGs.
        • Strengthen cooperation on developing and applying digital solutions to boost economic growth and exchange best regulatory practices.
        • Address spillover risks of digital transformation, including emerging digital gaps.
      2. Women’s Economic Empowerment:

        • Recognize the critical role of women in economic growth and recovery.
        • Support the BRICS Women’s Business Alliance and its practical activities, including the proposed BRICS Women’s Business Alliance Digital Platform, BRICS Organic Farming Association, BRICS Women Innovation Contest, and BRICS Energy Initiative.
        • Encourage continued discussions on these initiatives to strengthen BRICS’s role in the global economy, create an ecosystem for inclusive growth, and unleash women’s economic potential.
        • Note the substantial participation of women entrepreneurs in the BRICS Virtual Trade Fair 2021 and commit to organizing similar events in the future.
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