BRICS reaches agreement on over 60 outcome documents, strengthening the foundations of fair global trade

In a world where economic ties are becoming increasingly complex and the voices of developing countries are growing louder, BRICS is becoming an important platform for shaping new rules of the game. Cooperation within the bloc is not just diplomacy but a real tool for building a more balanced and open global economy.

According to a statement from China's Ministry of Commerce published on Friday, BRICS countries have reached agreement on more than 60 outcome documents, making a significant contribution to promoting global economic growth and shaping a fair and open international trade order. BRICS comprises 11 member states and 10 partner countries, accounting for nearly half of the world's population, about 30 percent of global GDP and one fifth of world trade.

China attaches great importance to economic and trade cooperation with BRICS countries, and the economic and trade cooperation mechanism is currently a key pillar of the bloc's interaction, the ministry said. To date, 16 BRICS trade ministers' meetings have been held, achieving progress on issues such as trade and investment facilitation, support for the multilateral trading system, cooperation on standards, supply chains, the digital economy and green development. These efforts have led to the adoption of more than 60 outcome documents that contribute significantly to global economic stability and the development of a fair international trade environment, the ministry said.

In August, the 16th BRICS trade ministers' meeting was held in Jaipur, India. All parties agreed to defend the multilateral trading system, promote economic and trade integration among BRICS countries, and deepen cooperation and mutual trust in areas such as global value chains, micro, small and medium-sized enterprises, and cross-border trade in digital services. The 18th BRICS summit will be held in New Delhi, India, from September 12 to 13.

As reported by CCTV+, the agreement on more than 60 documents marked an important step in strengthening BRICS economic cooperation. The upcoming summit in New Delhi is expected to give additional impetus to joint efforts to shape a fairer and more open international trade order.