brics nations call for ease of e commerce facilitation

BRICS Nations Call For Ease Of E-commerce Facilitation

BRICS nations will soon consider a proposal to frame ‘guiding

principles’ for investment policymaking to boost investment flows

into Brazil, Russia, India, China and South Africa as well as take

steps to promote e-commerce among the five leading emerging

economies.

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The BRICS Contact Group on Economic and Trade Issues

(CGETI) will also discuss measures for closer cooperation

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among the BRICS countries for developing their respective

national single window for trade facilitation.

BRICS nations have proposed ‘Guiding Principles for BRICS

Investment Policymaking’ which is similar to ‘Guiding

Principles’ agreed by the G20 (group of 20 major economies

of the world) Trade Ministers at Shanghai in July 2016 under

the Chinese G20 Presidency.

The ‘G20 Guiding Principles for Global Investment

Policymaking’, among other things, states that,

“Governments should avoid protectionism in relation to

cross-border investment” and that “investment policies

should establish open, non-discriminatory, transparent and

predictable conditions for investment.”

It adds that, “dispute settlement procedures should be fair,

open and transparent, with appropriate safeguards to

prevent abuse.

A Meeting Between FICCI And UNIDO


Last December, a meeting was organized by the Federation

of Indian Chamber of Commerce and Industry (FICCI) and the

United Nations Industrial Development Organization

(UNIDO).The exchange of information on e-commerce and

technology development, as well as the strengthening

partnership between small and medium-sized enterprises

(SMEs) in BRICS countries (Brazil, Russia, India, China and

South Africa), were the key pointers discussed in the

meeting.

Participants included members of the Russian Technology

Transfer Network, the National Small Industries Corporation,

and representatives of a number of e-commerce companies

in India. The discussion emphasized the importance of

promoting SME development through e-commerce, and

highlighted the great opportunities that e-commerce

provides SMEs to overcome logistical and geographic

challenges for better access to markets.


The aim is to build an inclusive and sustainable industrial

development in these countries through the development of

e-commerce.

India To Benefit From Cross Border E-commerce

According to research firm Statista,expected retail e-commerce

sales in BRIC countries in 2017could be: Brazil- $18.7 bn; Russia-

$16.06 bn; India- $20.01 bn; China- $ 470.06 bn. While by 2021,

the projected market size of these countries could reach: Brazil-

$29.06bn; Russia- $23.38 bn; India- $45.17bn; China- $839.54 bn.

The data indicates that these countries can gain much from each

other’s trade deficit and develop e-commerce ecosystem in their

respective countries.

Greater cooperation among members on e-commerce and

intellectual property right (IPR) and sought faster removal of

non-tariff barriers will boost trade and improve the India’s

participation in the BRIC trade and further in the global

market.


It will also enhance India’s capacity building and promote

cooperation on infrastructure.

Development of e-commerce includes services directly

supporting it, such as payment and logistic services.

Conclusion

Intra-BRICS cooperation is now expanding to encompass new

areas.There is a need for a well-defined legal framework to

govern the e-commerce market. This will enable e-commerce

players to gain a deeper understanding of the legal regime and

enhance the overall e-commerce ecosystem.


brics nations call for ease of e commerce facilitation

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