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.
女子挺5个月孕肚征婚？重庆江北警方通报 中新网1月11日电 据重庆市公安局江北区分局官方微博消息，近日，网传“女子挺5个月孕肚征婚 ”视频，引发网友关注。经查，该女子陈某 (女，33岁，暂住江北区，系自媒体博主) 为吸引流 中新经纬1月11日电 “上海市场监管”微信号11日消息，宜家召回3008件USB充电器。 上海市市场监管局称，宜家(中国)投资有限公司自2024年1月10日至2024年4月9日召回2020年4月至2023年12月生产的宜家牌ASKSTORM 奥斯 越来越多国人选择旅游过春节 “南北互换过年”备受欢迎 证券时报记者 周春媚 甲辰龙年为期8天的春节长假，成为了近年来最为火爆的春节旅游假期。 各地景区张灯结彩、人山人海，迎来客流高峰。迎春灯会、 共建“一带一路”倡议提出十年来，从亚欧大陆扩展至全球，为许多人带去了更好的发展机遇。与此同时，在某些西方媒体的宣传中，“债务陷阱”等阴谋论字眼却甚嚣尘上。中国日报起底工作室针对这一说法 【光明论坛】近日，中共中央印发《党史学习教育工作条例》（以下简称《条例》），对于推动党史学习教育常态化长效化，推动全党全社会学好党史、用好党史，从党的历史中汲取智慧和力量，弘扬伟大建党精神，传承红 中新经纬2月23日电(罗琨 实习生 徐畅)“中国确实是面向未来的全球技术中心，我很高兴又一次来到中国，在这里进行深入研究。”近日，科勒集团全球首席品牌官赛米・巴尔(Samie Barr)在广州接受中新经纬专访时表示。赛米 。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。