Banners for the 16th BRICS Summit were hung along a street in Kazan, Russia, on Oct. 20, 2024. (Photo: China News Service/Sheng Jiapeng)
(ECNS) -- The 16th BRICS Summit, to be held from Tuesday to Thursday in Kazan, Russia, has drawn global attention as it marks the first gathering since the group's expansion. This summit is expected to bring new opportunities for economic and trade cooperation between China and other BRICS nations.
Chongyang Institute for Financial Studies of Renmin University Research Fellow Liu Ying stated that by enhancing economic and trade exchanges, BRICS countries have achieved complementary advantages and strong partnerships, becoming an important engine to oppose trade protectionism and promote global economic growth.
Economic and trade relations among BRICS countries are becoming increasingly close.
After the expansion of BRICS in January, China's imports and exports to member countries reached 4.62 trillion yuan ($650 billion) in the first three quarters, a year-on-year increase of 5.1 percent.
In the industrial sector, China’s exports of intermediate goods such as steel and raw textiles to other BRICS countries grew by 8.6 percent and 13.4 percent in the first three quarters, respectively, compared to the same period last year.
In the financial sector, NDB has approved over 100 projects to date, with a total amount exceeding $34 billion. This has provided strong support for emerging market countries and developing nations by expanding financing channels and addressing gaps in infrastructure.
Trade in agricultural products has also been robust. In the first three quarters of this year, over 80 percent of China’s poultry and frozen cod and 50 percent of crabs were imported from BRICS member countries.
Additionally, China's exports of garlic, tomatoes, and citrus fruit are popular among BRICS countries.
The remarkable success of BRICS economic and trade cooperation is due to strong development needs, willingness to collaborate, and high degree of economic complementarity.
Wang Youxin, a senior researcher at the Bank of China Research Institute, stated that BRICS countries are at different stages of industrial development. The characteristics of such development in each country create favorable conditions for promoting industrial transfer and market expansion within the BRICS group.
Liu said that BRICS nations not only possess abundant resource reserves but also advanced manufacturing industries and a vast market, with distinct advantages in various technological fields.
What’s even more commendable is that BRICS nations have transcended the outdated notion of zero-sum competition, embracing a new philosophy of mutual benefit and win-win in their economic and trade collaboration, according to Liu.
However, while BRICS countries have achieved significant results in economic and trade cooperation, there is still considerable room for improvement.
For instance, relatively few free trade agreements have been signed among member states, and trade links between them need to be strengthened. Additionally, mechanisms for economic and trade cooperation require further refinement.
As noted by Xu Xiujun, researcher at the Institute of World Economics and Politics at the Chinese Academy of Social Sciences, the developing countries represented by BRICS share similar levels of economic development and face the same challenges.
In the context of sluggish global economic growth, how can BRICS countries build a stronger economic and trade network? This is key not only to the interests of its members but also to the unity of Global South nations and the future of the world economy.
春节假期北京接待游客1749.5万人次 旅游市场热度攀升 中新网北京2月18日电 (记者 徐婧)记者17日从北京市文化和旅游局获悉，春节假期(2月10日至17日)，北京接待游客1749.5万人次，按可比口径同比增长37.4%，比2019年同 27亿元票房领跑春节档 凭什么《热辣滚烫》？ 长沙晚报2月17日讯(全媒体记者 宁莎鸥)今年的春节档大战在如火如荼地进行中。截至17日记者发稿时，贾玲自导自演的《热辣滚烫》已获得票房超27亿元，领跑大盘，有望拿到春 新华社记者王自宸、宋立崑、侯文坤受大范围低温雨雪冰冻天气影响，至22日5时，湖北省绝大部分市县出现1至9厘米积雪。湖北省应急部门于22日10时将低温雨雪冰冻灾害应急响应由四级提升至三级。湖北各地各 最高检：对未成年人实施网络暴力依法从重处罚 中新网2月23日电 据最高人民检察院微博消息，2月23日，最高人民检察院法律政策研究室主任高景峰在访谈时介绍，对网络暴力违法犯罪，应当体现从严惩治精神，依法严肃追究，切实 海洋馆潜水员溺亡 游客：以为是假人 近日，有网友在社交平台发帖称，在春节假日期间，郑州海昌海洋馆的一名潜水员在企鹅池进行作业时溺亡。2月21日下午，郑州海昌海洋馆的工作人员向扬子晚报紫牛新闻记者证实了此事，并表 2023年市场监管部门检查涉企收费单位7.9万家 本报讯 记者万静 近日国家市场监督管理总局对外披露数据显示，2023年我国各级市场监管部门共检查涉企收费单位7.9万家，罚没4.3亿元，退还企业21.6亿元。其中，检查政府部 。本文链接：EconoScope | Expanded BRICS to provide new opportunities for economic and trade cooperationhttp://www.sushuapos.com/show-5-31437-0.html
声明：本网站为非营利性网站，本网页内容由互联网博主自发贡献，不代表本站观点，本站不承担任何法律责任。天上不会到馅饼，请大家谨防诈骗！若有侵权等问题请及时与本网联系，我们将在第一时间删除处理。