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Brics Trade And Investment Cooperation Framework

26 March 2013 Durban, South Africa

BACKGROUND

To achieve mutually beneficial outcomes, this Trade and Investment Cooperation Framework operates according to  the  principles   of   equality,   transparency, efficiency, mutual understanding and consensu

2.            PRINCIPLES

This Trade and Investment Cooperation Framework is established under the  CGETI and its terms of reference. It aims to locate the specific activities of the  Group  in  a  longer- term framework for enhanced coordination and possible joint         action.

The Contact Group on Economic and Trade Issues (CGETI) is a key platform for BRICS Members to exchange views on a range of economic, trade and investment related issue The exchange of policy perspectives and priorities lays an essential basis for enhanced coordination and cooperation among the BRICS Members on these issues.

This framework is open-ended and progressive. The cooperation initiatives may be adjusted, enriched and will evolve as issues of concern to its BRICS Members develop and change in the future, with the approval of the BRICS Trade Ministers’ Meeting and the CGETI.

3.            OBJECTIVES

This cooperation framework is developed and initiated with the aim of:

Promoting trade,    investment    and    economic    cooperation    among    the    BRICS Members;

Encouraging trade and investment links between BRICS countries with an emphasis on supporting industrial complementarities, sustainable development and inclusive growth;

Sharing policy practices on trade and investment among the Members;

Encouraging initiatives  among  BRICS  Members  to  support  institution-building  to enhance productive capacity and value addition across various economic sectors; and

Enhancing communication and coordination.

4.            AREAS OF WORK

Multilateral cooperation and coordination

Strengthening coordination in the World Trade Organisation’s Doha Round, as well as in other multilateral fora where trade and investment matters arise.

Enhancing information exchange on trade/investment policies and business opportunities through mechanisms including websites for trade/investment information- sharing.

4.2          Promoting and Facilitating Trade and Investment

Identifying areas for possible development cooperation activities of BRICS that could support the development aspirations of developing countrie

Conducting regular  meetings  among  BRICS  high-level  officials  in  multilateral  and international organisations where trade and investment matters arise.

Encouraging their trade/investment promotion agencies to establish stronger relationships, and providing policy support for trade/investment missions  amongst    the

BRICS Members.

Expanding cooperation on trade/investment promotion platforms such as trade fairs and expositions to increase opportunities for BRICS enterprises to meet, communicate and cooperate with each other.

Improving the transparency of the trade/investment environment in line with their respective laws and regulations.

Enhancing communication and cooperation in the areas of standardisation, certification, inspection and quarantine.

Enhancing communication and cooperation between agencies responsible for trade remedies.

Considering the effect that a positive outcome of the work by Ministries of Finance and Central Banks on settlement in local currencies may have as a support to enhanced intra-BRICS trade.

4.3          Innovation Cooperation

Establishing project platforms to promote communication and cooperation in high- technology area

Conducting information exchange on SMEs regulatory and supporting policies, as well as the experiences and practices in this area.

4.4          SMEs Cooperation

Advancing dialogue and communications in emerging industries, and promoting trade and investment in industries that are technology-, knowledge-, or capital-  intensive.

Encouraging the expansion of trade and investment in high value-added  products.

Exploring possibilities of signing a BRICS SMEs Cooperation Agreemen

Encouraging promotion  agencies   such  as  SMEs  associations  and  development centres to establish contacts and hold joint activities including                           trade/investment

expos, human resource training, consulting, seminars, etc.

4.5          Cooperation on Intellectual Property Rights (IPR)

Enhancing information   exchange   on    IPR   legislation    and    enforcement   through meetings or seminar

Sharing and exchanging information and experiences in infrastructure and construction.

4.6          Cooperation on Infrastructure and Industrial Development

Promoting cooperation among IPR office

Jointly developing capacity building programmes in the IPR area.

Encouraging relevant enterprises to participate in infrastructure development and construction in the BRICS countries, and having mutually beneficial cooperation with each other.

Analysing the prospects for joint bids by BRICS enterprises in international infrastructure and construction projects.

5.            SPECIFIC ACTIVITIES FOR 2013/2014

The following activities will be encouraged or undertaken by the CGETI during 2013/2014 as part of this Framework:

The development  of  BRICS  information  sharing  and  exchange  platforms,  such  as the platform initiated by the Centre for BRICS Studies, Fudan University, China.

Work on  reconciling  merchandise  trade  data  and  models  for  services  trade  data collection.

A joint trade  study  to  identify ways of  promoting the export of  higher value-added products among the BRICS Member

BRICS seminar on investment protection agreements (South Africa, June 2013).

BRICS investment  and  trade  promotion  through  the  China  International  Fair  for Investment and Trade (China, 8-9 September 2013).

Import Forum to promote the import of high value-added products from BRICS (China, second half of 2013).

SME promotion through the China International Small and Medium Enterprises Fair (China, September 2013).

Coordination for the WTO 9th Ministerial Conference in Bali, Indonesia in December 2013.

Enquiries:

Sidwell Medupe-Departmental Spokesperson Tel: (012) 394 1650

Mobile: 079 492 1774

E-mail: MSMedupe@thedti.gov.za

Issued by: The Department of Trade and Industry Follow us on Twitter: @the_dti