SME Cooperation Forum

BRICS Held First International Seminar on Trade Remedy in Beijing

2012 International Seminar on Trade Remedy of BRICS Countries was held in Beijing on September 12. It is the first international seminar held by BRICS countries on trade remedy. Vice Minister of Commerce Wang Chao delivered a keynote speech, and heads from trade remedy agencies of BRICS countries including China, Russia, Brazil and South Africa, and officials from WTO gave speech.

Wang Chao said that BRICS countries have 30% of the land area and 42% of the population of the world. And as emerging economies and developing countries, BRICS countries have become the important engines stimulating world economic and trade development, playing an increasingly important role. Economic and trade relations among BRICS countries are also developing rapidly, and trade among BRICS countries exceeded US$ 300 billion in 2011, rising about 6 times over 10 years.

Wang Chao expressed that China attaches great importance to the development of economic and trade relations with other BRICS countries. Bilateral trade between China and other BRICS countries (Brazil, Russia, India and South Africa) in 2011 totaled US$ 282.8 billion, up by 37.6% year-on-year, accounting for 7.7% of China's total import and export in the same period. Trade growth rates between China and other BRICS countries are higher than its overall export growth rate, and of which China imports were US$ 148.14 billion, up by 48.4%, 23.5 percentage higher than China’s overall import growth. China has become the largest trading partner of Brazil, Russia and South Africa, and the second largest trading partner of India. China’s Investment and contracted projects in BRICS countries also saw a significant increase.

Wang Chao pointed out that under the grim world economic situation, BRICS countries should stick to opening up with a tolerant attitude, cooperating for development and win-win, adopt pragmatic measures to strengthen communication and cooperation, jointly oppose trade protectionism, and foster a sound environment for international trade development. Wang Chao put forward three proposals: 1. Promoting a fair and equal, reasonable and balanced, and mutually beneficial and win-win international trade rules through a closer international cooperation, so as to achieve common development and prosperity. 2. Enhancing mutual tolerance with a broader mind, addressing problems arising from bilateral economic and trade cooperation in a rational and objective way, and strengthening policy coordination on trade remedy. 3. Opposing trade protectionism with a more distinctive attitude, avoiding politicizing economic and trade issues, and making efforts to build a mutually beneficial and win-win partnership with mutual respects for economic cooperation.

Over 120 representatives from relevant departments of the State Council, foreign missions in China, commercial departments at provincial and municipal levels, related chambers of commerce and associations, business representatives, experts, scholars, and lawyers attended the seminar. The seminar provided a platform for BRICS countries to exchange views on their respective legislations and practices on trade remedy, to strengthen communication and cooperation among governments, industries and enterprises, and to jointly enhance their capabilities of practicing international economic and trade rules, which is conductive to deepening the partnership of BRICS countries for common development, and to broadening and deepening cooperation among BRICS countries.