The 6th BRICS Trade Ministers Meeting was held on October 13, 2016, in New Delhi, India. The meeting was a significant event where trade ministers from Brazil, Russia, India, China, and South Africa gathered to discuss various issues pertinent to trade and economic cooperation among the BRICS nations.

Key Highlights and Outcomes:

1. Global Economic Situation:
   • The ministers discussed the global economic situation and its impact on trade and investment within BRICS countries. They emphasized the need for coordinated efforts to address these challenges and enhance economic cooperation.
2. First BRICS Trade Fair:
   • The meeting coincided with the first BRICS Trade Fair, held from October 12-14, 2016, in New Delhi. This event was seen as a crucial step towards implementing the Strategy for BRICS Economic Partnership, aiming to strengthen trade and commercial partnerships among BRICS countries.
3. Micro, Small, and Medium Enterprises (MSMEs):
   • The ministers acknowledged the importance of MSMEs in providing employment opportunities and fostering equitable wealth distribution. They commended the organization of the second BRICS round-table on MSMEs by India, focusing on technical and business alliances in this sector.
4. BRICS Business Council:
   • The annual report by the BRICS Business Council was noted, and the council was directed to accelerate the development and realization of joint projects that contribute to the economic objectives of BRICS on a mutually beneficial basis.
5. New Development Bank (NDB):
   • The ministers welcomed the operationalization of the NDB and the Contingent Reserve Arrangement, which were seen as significant contributions to the global economy and the strengthening of the international financial architecture.
6. Future Cooperation:
   • The meeting underscored the importance of continued cooperation in areas such as e-commerce, intellectual property rights (IPR), trade promotion, and standardization. The ministers also highlighted the potential for future collaboration in non-tariff measures and the services sector.

The meeting was part of a broader agenda of the 8th BRICS Summit, held in Goa, India, from October 15-16, 2016, which further discussed and endorsed the outcomes of the trade ministers’ meeting.