The Ministry of Commerce of China File photo: VCG

Member economies of BRICS, which cover major emerging market and developing countries in the world, hold great potential for cooperation, China's Ministry of Commerce (MOFCOM) spokesperson He Yongqian told a routine press conference on Thursday in Beijing.

The spokesperson made the remarks in response to a media inquiry on the prospects of trade and investment ties among BRICS countries, and what policies China is implementing to foster trade cooperation including those on payments among companies from BRICS member countries.

"China attaches great importance on deepening practical economic and trade cooperation with other BRICS members. In recent years, thanks to the concerted efforts of all parties, mechanisms for BRICS economic and trade cooperation have been continuously improved, and the bond of their economic and trade cooperation has been steadily strengthened," the spokesperson said.

At the 15th BRICS Trade Ministers' Meeting held in Brasilia, Brazil in May, China actively promoted consensus among the members on strengthening the multilateral trading system, digital economy governance, trade and sustainable development, and other key issues, which enriched the substance of BRICS economic and trade cooperation, the spokesperson noted.

In particular, amid the on-going global trade tensions, all parties agreed that BRICS members should jointly uphold the multilateral trading system, oppose unilateralism and protectionism, and safeguard the legitimate rights and interests of the developing countries and the members, said the MOFCOM spokesperson.

China stands ready to work with other BRICS members to fully implement the consensus reached at the leaders' meeting and advance broader BRICS economic and trade cooperation to new heights, the spokesperson said.

Chinese Premier Li Qiang will attend the 17th BRICS Summit upon invitation in Rio de Janeiro, Brazil, from July 5 to 8, according to an announcement by China's Foreign Ministry on Wednesday.

Global Times