BRICS debates trade, investment, economic cooperation, and multilateralism
Coordinated by Brasil’s ministries of Development, Industry, Trade, and Services (MDIC) and Foreign Affairs (MRE), the Contact Group on Economic and Trade Issues (CGETI) began discussions on priority themes for the member countries of the economic bloc
By Brasil's Ministry of Development, Industry, Trade, and Services (MDIC)
Under Brasil's BRICS Presidency, the Ministry of Development, Industry, Trade, and Services (MDIC) and the Ministry of Foreign Affairs (MRE) coordinated the online technical meetings of the Contact Group on Economic and Trade Issues (CGETI) held this Monday and Tuesday, March 24 and 25). The meetings addressed three priority themes: the negotiation of the BRICS Economic Partnership Strategy for 2026-2030, the importance of the multilateral trade system, with the World Trade Organization (WTO) at its center, and policies to boost data economy among the countries that integrate the economic bloc.
Established in 2011, the CGETI proposes cooperation measures, initiatives, and recommendations on economic and trade issues to BRICS Trade Ministers. Comprising technical teams from all member countries, the group aims to prepare the agenda for the upcoming Trade Ministers’ Meeting on May 21.
On the first day, the group held discussions that, according to the Brazilian Presidency, aim to produce a joint declaration on the WTO and the Multilateral Trade System. The statement is expected to reaffirm the BRICS countries' commitment to economic multilateralism and an open, transparent, and equitable global trade system. It will also reiterate the bloc’s political support for WTO reform and the organization’s work while emphasizing the need to strengthen the Multilateral Trade System.
The teams that make up the CGETI have also initiated discussions aimed at updating the BRICS Economic Partnership Strategy 2030, a strategic document launched during the Russian presidency in 2020 to guide the group's cooperation on economic issues related to trade, investment and finance, the digital economy, and sustainable development.
On Tuesday (25), the group discussed the importance of the data economy in the BRICS digital economy. This topic had already been addressed in an online seminar organized by MDIC and MRE on March 18. At today's technical meeting, the Brazilian Presidency proposed to explore mechanisms to improve the flow of data among BRICS countries, recognizing that data sharing is key to the digital economy.
The delegation shared political and practical experiences related to national data governance frameworks and discussed alternatives to improve data economy. The goal is to improve the flows among member countries and reach an understanding about the BRICS data economy governance.
The next CGETI technical meetings are scheduled for April 10 and 11 and May 19 and 20.