Piyush Goyal attends 9th BRICS trade ministers meet in Brazil

Union Minister Piyush Goyal attended 9th BRICS Tre Ministers meet in Brazil on vember 11 where he deliberated on global ecomic climate. Commerce and Industry Minister took to Twitter to inform that y spoke about vancing BRICS tre and investment cooperation at meeting. 

Wary of n-tariff barriers

Piyush Goyal said that interaction with BRICS tre ministers revolved around growing trend of n-tariff barriers which deny market access and le to ecomic uncertainty. He ded that for developing countries, especially in MSME sector, such n-tariff barriers raise cost of doing tre.

“Thus, a win-win mindset is needed to spur tre & promote equity,” said Union Minister.

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Impact of predatory pricing

During meet, Goyal highlighted verse impact of predatory pricing on millions of small retailers and need for e-commerce to follow letter and spirit of law. At a BRICS meeting in 2017, Prime Minister Narendra Modi h said, “BRICS has to be a voice of stability, reform, progress & governance”. Quoting PM Modi, Goyal said that we should be committed to building an inclusive and development-centric world that focuses on hard ecomic realities of many countries.

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Prime Minister to attend Summit

PM Modi will attend BRICS Summit scheduled for vember 13-14 and will also hold separate bilateral meetings with Russian President Vlimir Putin and Chinese Premier Xi Jinping. Prime Minister said that visit to Brazil will give him an opportunity to hold talks with President Jair Bolsonaro on ways to deepen India-Brazil strategic partnership.

“re is great potential in sectors like tre, defence, agriculture and energy,” PM Modi ded. He said that improving ecomic links augur well for BRICS nations.

BRICS, an association of five major emerging national ecomies (Brazil, Russia, India, China and South Africa), comprises 42 per cent of world’s population, 23 per cent of Global GDP and around 17 per cent of share in world tre. This year’s me for BRICS Summit is ‘Ecomic growth for an invative future.’

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