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在线翻译:
szdaily -> Business
BRICS nations vow to fight protectionism
    2017-August-3  08:53    Shenzhen Daily

CHINA and the other BRICS nations pledged yesterday to fight protectionism and safeguard intellectual property rights, even as U.S. President Donald Trump considers action against what he sees as unfair trade practices by China.

Trade ministers from Brazil, Russia, India, China and South Africa (BRICS) concluded two days of meetings in Shanghai agreeing to deepen trade and investment links, and “safeguard and develop” the multilateral trading system, according to a statement by Chinese Commerce Minister Zhong Shan.

“Ministers were committed to continue to firmly oppose trade and investment protectionism, recommitted to their existing pledge for both standstill and rollback of protectionist measures, and called upon countries to join in that commitment,” the statement said.

The ministers also approved guidelines for cooperation between the five countries on intellectual property rights (IPR).

“Ministers agreed to promote exchanges and cooperation on IPR legislation and enforcement in order to create favorable conditions for trade and innovation-driven economic development,” the statement said.

On Tuesday, a senior Trump administration official said Trump could decide as early as this week on how to respond to what he considers China’s unfair trade practices.

The United States has a long list of grievances about China on trade, including accusations of steel dumping and theft of U.S. intellectual property. Trump promised tough measures during his campaign last year but so far has not followed through.

BRICS countries have created a new paradigm for mutual benefit among emerging and developing countries since the mechanism was established in 2006.

Contributing nearly one-quarter of global economic output and half of world economic growth, BRICS nations play an increasingly significant role in driving the global economy and governance.

Amid uncertainties in the global economic recovery, Zhong called on BRICS nations to expand cooperation and explore new impetus.

“The Shanghai meeting will pave the way for the leaders summit later this year,” he said.(SD-Agencies)

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