India to raise multilateral trading challenges at BRICS meet

at 4:09 pm

New Delhi (NVI): India is expected to forcefully raise the challenges facing the multilateral trading system at the 9th BRICS Trade Ministers Meet in Brasilia, Brazil which commences on November 11 with the focus on opportunities for enhanced intra-BRICS trade.

Issues like cooperation in e-commerce, investment facilitation, MSMEs, Intellectual Property Right, will be discussed during the meet where India will be represented by Commerce and Industry and Railway Minister Piyush Goyal. The BRICS grouping comprises Brazil, Russia, India, China and South Africa.

The Ministerial meeting under the current Brazilian Presidency is also expected to sign an MoU among Trade and Investment Promotion Agencies of BRICS countries, which will help foster close collaboration between the five nations for promoting intra BRICS trade and investment, an official statement said.

Deliberations on the current global economic and trade environment, challenges facing the multilateral trading system, ways of advancing the BRICS trade and investment cooperation will also take place.

During his second leg of his visit on November 12, Goyal is scheduled to have a meeting with representatives of the medical devices manufacturing companies to discuss the trade issues.

On November 13, Piyush Goyal will have India-US bilateral meeting with his counterpart US Trade Representative (USTR), Ambassador Robert Lighthizer to discuss the outstanding bilateral issues and to arrive at a shared understating on a mutually beneficial basis.