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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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.
#DigitalErra Thought Corner
 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

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 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.

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 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.

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 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.