The Second BRICS Conference of Industry Ministers was held from July 28-29, 2017, in Hangzhou, China. This meeting focused on the theme “Opportunities and Challenges for the Development of Manufacturing Industry in the Context of the New Industrial Revolution.

Venue and Date

The meeting was held in Hangzhou, the capital of Zhejiang Province, China, on July 28-29, 2017. Hangzhou, known for its technological innovation and e-commerce industry, provided a fitting backdrop for discussions on industrial development.

Theme

The conference centered on “Opportunities and Challenges for the Development of Manufacturing Industry in the Context of the New Industrial Revolution.” This theme reflected the global shift towards Industry 4.0, characterized by increasing automation, data exchange, and new manufacturing technologies.

Key Discussions and Outcomes

1. Action Plan for Deepening Industrial Cooperation

This was a significant outcome of the meeting, outlining specific areas for collaboration:

• Production capacity cooperation
• Industrial policy coordination
• Development of new industrial infrastructure
• Technology development and innovation
• Support for small and medium-sized enterprises (SMEs)
• Standardization efforts

2. Focus on New Technologies

Ministers discussed the importance of:

• Modern equipment manufacturing
• Emerging technologies like artificial intelligence and the Internet of Things
• Sustainable development in the mineral resources sector
• Advancements in the pharmaceutical industry
• Research and development in communication technologies

3. Digital Economy

The meeting emphasized the growing importance of the digital economy and e-commerce, areas where BRICS countries, particularly China, have shown significant growth.

4. Skills Development

Discussions included strategies for workforce development to meet the demands of the evolving industrial landscape.

Significance of the Meeting

1. Strengthening BRICS Cooperation

The meeting reinforced the commitment of BRICS nations to work together in facing global economic challenges and seizing opportunities in the new industrial era.

2. Addressing Global Economic Shifts

It provided a platform for BRICS countries to align their industrial strategies in response to global economic shifts and technological advancements.

3. Promoting South-South Cooperation

The meeting exemplified efforts to enhance cooperation among developing nations, often referred to as South-South cooperation.

4. Preparing for Industry 4.0

Discussions and outcomes were geared towards preparing BRICS economies for the Fourth Industrial Revolution, emphasizing innovation and technological advancement.

Follow-up and Impact

• The action plans and agreements from this meeting were expected to guide industrial cooperation among BRICS nations in the following years.
• Subsequent BRICS summits and ministerial meetings would likely build upon the foundations laid in Hangzhou.
• The outcomes were anticipated to influence national industrial policies in the respective BRICS countries.

This view provides a more comprehensive understanding of the 2017 BRICS Industry Ministers Meeting in Hangzhou, highlighting its role in shaping industrial cooperation among these major emerging economies in the context of rapid technological change and global economic shifts.