Amid global supply chain disruptions and rising geopolitical uncertainties, the BRICS cooperation mechanism has become increasingly vital as a platform for promoting economic and trade collaboration among Global South nations, government and business representatives said at a forum on Friday.

BRICS serves as a crucial platform for cooperation among emerging markets and developing countries, as well as a key force in advancing multipolarization and economic globalization, Li Qingshuang, vice-chairperson of the China Council for the Promotion of International Trade, told the BRICS Economic and Trade Forum in Beijing.

"Currently, the international landscape is marked by increasing volatility and chaos, with rising unilateralism and protectionism," Li said. "The BRICS nations are becoming a key force in stabilizing the global economy and expanding international market space."

BRICS countries account for about 30 percent of the global economy, one-fifth of the world trade volume, and contribute more than half of global economic growth, Li said. "The BRICS nations have effectively broadened the global market and injected certainty and positive energy into the recovery of the world economy."

BRICS is also an important pillar for the Global South to strengthen economic and trade ties, expand development space, and enhance institutional influence, Li emphasized. "The business communities of BRICS nations should uphold true multilateralism, firmly support the multilateral trading system, advance trade and investment liberalization and facilitation, and ensure the security, stability and smooth flow of industrial and supply chains."

The forum, themed "BRICS Cooperation Empowering Global South Development: Co-building Standards, Integrating Trade, and Sharing Development", offered a platform for officials and business leaders from BRICS nations to discuss how standardization cooperation can facilitate trade and expand South-South economic ties.

Irene M. Han, deputy ambassador of Indonesia to China, stressed the need to strengthen trade through standard harmonization. "Trade is not only about volume, but it's also about accessibility. Standard certification and regulatory alignment play a very crucial role in enabling products from developing countries to enter global markets," she said.

"In this regard, we support the initiative to build mutual recognition of standards and enhance transparency in trade procedures," she said.

Through better connectivity under BRICS, member nations can build a large market to enable the development of the Global South, she added.

'Practical platform'

Khaled Melad Rezek, minister plenipotentiary and head of the economic and commercial department at the Egyptian embassy in China, said that practical cooperation among emerging economies has become more important than ever. Egypt considers BRICS "not simply as a political or diplomatic forum, but as a practical platform for advancing trade, investment, industrial cooperation, financial collaboration, and more resilient development", he said.

"We see in this grouping a real opportunity to promote stronger South-South cooperation and more diversified engines of development."

Atul Dalakoti, executive director of the Federation of Indian Chambers of Commerce and Industry China, said, "BRICS plays an important role in bringing the countries of the Global South together and having their voice heard", citing the expansion of the cooperation mechanism as an example of its growing significance.

Dalakoti noted that discussions are currently underway within BRICS regarding trade liberalization among member countries and trading in local currencies. Such efforts will help create better cooperation among the Global South, he said.

The forum also saw the release of the Handbook on BRICS Trade Development and Standards Cooperation.

"The publication of the handbook serves to lower technical barriers to trade among BRICS nations. By clarifying product standards, certification procedures, and regulatory frameworks, the handbook generally aims to make cross-border trade smoother and more cost-effective for businesses," said Nikolay Gudkov, chief representative of the Chamber of Commerce and Industry of the Russian Federation.

"The handbook is a practical tool to move BRICS cooperation from political agreements to on-the-ground economic reality," he added.

Hosted by the China Council for the Promotion of International Trade, the forum drew more than 200 participants, including representatives from Chinese and foreign standardization organizations, business associations, corporate leaders, and diplomats from relevant countries.

yangran1@chinadaily.com.cn