New Delhi, March 27: Trade ministers from Brazil, Russia, India, China and South Africa (BRICS), representing over 40 percent of the world’s population, will meet here Wednesday to discuss ways to remove barriers to trade and investment.
“There is a large untapped growth potential of intra-BRICS trade and investments which we are presently focusing on,” India’s Commerce and Industry Minister Anand Sharma said ahead of the meeting.
The meeting will take place a day before the fourth BRICS summit to be held here Thursday.
Over 500 business leaders from the five countries are expected to attend the forum.
“While the new risks to global economy emanating from euro zone debt crisis and uncertainty in global energy markets will have their impact upon economic growth in BRICS countries, I am confident BRICS countries will continue to register strong growth,” Sharma said in a statement.
A number of new areas for deepening intra BRICS cooperation are expected to be discussed at the meeting of the trade ministers.
The recommendations of the ministers would feed into the summit being hosted by India, according to a statement by the commerce and industry ministry.