BRICS Trade Ministers' meeting concludes in Jaipur; discussions...

By GT24x7 Reporter · 7 August 2026 · GlobalToday24x7

The 16th BRICS Trade Ministers' Meeting was successfully concluded in Jaipur on Friday under the chairmanship of India. The meeting, chaired by Union Commerce and Industry Minister Piyush Goyal, was attended by Trade Ministers and delegations of BRICS member countries.

The meeting discussed important issues such as the changing nature of global trade, strengthening the multilateral trading system, increasing the resilience of global value chains, globalization of micro, small and medium enterprises (MSMEs), providing them with access to trade finance, and promoting digital services.

The meeting reaffirmed the commitment to a development-oriented, rules-based and consensus-based multilateral trading system, with the World Trade Organization (WTO) at its core. It also emphasized the importance of safeguarding the interests of developing countries in food security and public stockholding.

A significant outcome of the meeting was the adoption of several decisions aimed at benefiting farmers and micro, small and medium enterprises (MSMEs). The Ministers approved various action plans to facilitate trade finance for MSMEs, enhance cooperation in global value chains, digitize trade documents and promote cross-border digital services.

The BRICS Economic Partnership Strategy-2030 was also finalized during the meeting; this strategy will be presented for approval by the leaders at the BRICS Summit to be held in New Delhi in September 2026.