On November 17, the 12th BRICS Leaders' Summit was held via video conference under the theme 'BRICS Partnership for Global Stability, Common Security, and Innovative Growth,' focusing on coordinating pandemic response efforts and charting the course for deepening strategic partnerships among BRICS nations. Economic and trade cooperation serves as the 'ballast' and 'propeller' of BRICS cooperation.
Since the outbreak of the novel coronavirus pandemic, BRICS countries have engaged in extensive cooperation in the economic and trade domain, making positive contributions to global pandemic containment and economic recovery. During this summit, a series of fruitful outcomes were achieved in the economic and trade field—including strengthening international pandemic response cooperation, enhancing trade facilitation, and reaffirming commitment to the multilateral trading system—while also outlining a development blueprint for BRICS economic and trade cooperation over the next five years. Notably, the summit adopted the BRICS Economic Partnership Strategy 2025, which identifies three priority areas for cooperation: trade and investment and finance, the digital economy, and sustainable development. The Strategy encompasses cooperative goals such as supporting the multilateral trading system, facilitating trade and investment, advancing the digital economy, enhancing supply chain connectivity, fostering innovation and technology, and supporting micro-, small-, and medium-sized enterprises (MSMEs), thereby mapping out key focus areas, directions, and a clear roadmap for BRICS economic and trade cooperation over the next five years.
The summit also approved the Guidelines for Promoting Effective Participation of Micro-, Small-, and Medium-Sized Enterprises (MSMEs) in International Trade, proposing measures including enhancing transparency, strengthening policy coordination, and promoting exchanges of regulatory information and best practices—thus creating favorable conditions for MSMEs to engage in trade and investment activities and integrate into global value chains. In addition, all parties pledged to continue enhancing cooperation—including information exchange and capacity-building—in areas such as intellectual property, the digital economy, and trade in services.
Last updated: 2026-03-08