BEIJING, July 24 (Xinhua) — BRICS countries have agreed to strengthen cooperation in areas including e-commerce, intellectual property rights (IPR) as well as small and medium-sized enterprises (SMEs), according to a Thursday meeting attended by economic and trade ministers of the countries.
BRICS countries should step up collaboration in the face of downward pressure on the world economy amid the spread of the COVID-19 pandemic, the ministers agreed, vowing strengthened cooperation in the supply chain and value chain to jointly fight the pandemic.
The parties also promised to jointly safeguard the multilateral trading system, oppose unilateralism and protectionism, support the necessary reform of the World Trade Organization (WTO) and protect the lawful rights and interests of its developing members.
The countries decided to deepen practical cooperation in e-commerce, IPR, SMEs and investment facilitation, among other fields.
Minister of Commerce Zhong Shan said BRICS countries have vast markets and huge development potential, adding that the countries should strengthen their confidence, step up international cooperation in fighting the pandemic, ensure the stability of global industrial and supply chains, and jointly support developing countries and the least developed countries. Enditem