BRICS countries vow to deepen financial cooperation, customs management

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The BRICS nations comprising Brazil, Russia, India, China and South Africa have vowed to deepen financial cooperation and customs cooperation.
Chinese state media reported that BRICS countries agreed to strengthening coordination on macroeconomic policy at a virtual meeting of finance ministers and central bank governors of the five-member bloc which was co-chaired by China's central bank governor Yi Gang and finance minister Liu Kun.
The meeting discussed topics such as improving the Contingent Reserve Arrangement and the cooperation of transition finance and other areas.
Finance minister Nirmala Sitharaman, who participated virtually in the meeting, said that India's growth will be driven by fiscal spending. Ms. Sitharaman said BRICS should continue to serve as a platform to engage in dialogues and facilitate the exchange of experiences, concerns and ideas for rebuilding a sustainable and inclusive growth trajectory.
Customs authorities of BRICS countries also vowed to deepen cooperation on intelligent customs at a virtual meeting on Tuesday.
Customs cooperation between BRICS countries has seen fruitful results since the establishment of the cooperation mechanism in 2013, while bilateral trade has maintained steady growth, said Sun Yuning, deputy head of the General Administration of Customs of China.

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