India chairs BRICS Contact Group on Economic and Trade Issues

WHY IN NEWS?

From 12 to 14 July, 2021 the BRICS meeting on Contact Group on Economic and Trade Issues (CGETI) was held.

About:

• During the three day CGETI meeting, the BRICS members deliberated on the proposals which were circulated by India. These proposals were mainly for increasing and strengthening the intra-BRICS trade and cooperation was said by the Ministry of Commerce and Industry.

Proposals made by India

The proposals put forward by India are

• Cooperation of BRICS regarding Multilateral Trading System.
• A framework to ensure Consumer Protection in E-Commerce.
• For SPS/TBT measures, Non-Tariff Measures resolution mechanism.
• Working Mechanism on Phytosanitary and Sanitary.
• A Framework of BRICS regarding Cooperation in the Professional Services.