BRICS trade ministers' meeting today
New Delhi: Ahead of the BRICS Summit on Thursday, trade ministers of Brazil, Russia, India and South Africa (BRICS) will meet here on Wednesday to discuss ways to strengthen economic ties.
Commerce and Industry Minister Anand Sharma would meet his counterparts from Brazil Fernando Pimente, Chen Deming from China and Russia's Elvira Nabiullina and Rob Davis from South Africa.
New areas of cooperation are expected to be discussed at the meeting, said an official release.
Sharma said, "There is a large untapped growth potential of intra-BRICS trade and investments which we are presently focusing on for exploitation."
Besides, the development banks of BRICS are in advanced stage of reaching a pact for extending cross-country credit in local currencies of the member countries, he said.
The theme of the 4th BRICS Summit is 'Partnership for Stability, Security and Growth'. The last summit was held in China in April, 2011.