Union minister Piyush Goyal attended the 9th BRICS trade ministers meet during which he stressed upon the global economic climate with his counterparts from other nations
Brasilia (Brazil): Commerce and Industry Minister Piyush Goyal attended the 9th BRICS trade ministers meet in Brasilia on Tuesday (November 12) during which he deliberated on the global economic climate with his counterparts from other member nations.
Taking to Twitter, Goyal said that he spoke about advancing Trade and Investment cooperation between BRICS nations, as well as on the growing trend of non-tariff barriers.
"Attended the 9th BRICS Trade Ministers Meet in Brazil and deliberated on the global economic climate. Also, spoke about advancing BRICS Trade and Investment Cooperation," Goyal tweeted.
"Interacted with BRICS Trade Ministers and spoke about the growing trend of non-tariff barriers which deny market access, lead to economic uncertainty and raise the cost of doing the trade for developing countries, especially MSMEs. Thus, a win-win mindset is needed to spur trade & promote equity," the following tweet read.
Earlier, Prime Minister Narendra Modi embarked on a two-day visit to Brazil, to participate in the 11th BRICS summit.
BRICS brings together five major world economies, namely Brazil, Russia, India, China, and South Africa, which comprise 42% of the world population, contribute to 23% of global Gross Domestic Product (GDP) and around 17% of the share in world trade. The theme of this year's summit is economic growth for an innovative future.
Last Updated 4:18 PM IST