Trade ministers from Brazil, Russia, China, India and South Africa, or the BRICS countries, held a virtual meeting on Thursday to set the agenda for their upcoming leaders summit. Our reporter Wang Hui has more.

This year's meeting was hosted by China, which also holds the BRICS presidency currently. Besides approving a joint communique, agreements were reached on strengthening the multilateral trading system and reform of the global trade system, expanding supply chain and digital economy cooperation, furthering trade & investment and promoting sustainable development.

Speaking at the meeting, Chinese Vice Premier Hu Chunhua said Chinese president Xi Jinping has reiterated that BRICS countries should uphold the principle of mutual benefit, expand cooperation in trade and investment, technological innovation, and green and low-carbon industries.

HU CHUNHUA Chinese Vice Premier "BRCIS countries should jointly maintain the safety and stability of global industrial chains, facilitate cooperation in digital economy, firmly safeguard the multilateral trading system, and support the reform of the world trade organization, and protect the legitimate rights of developing countries."

Hu added that China will continue to expand its high-level opening up and ink more free trade agreements, while continuing to share development opportunities with the rest of the world.

Chinese Commerce Minister, Wang Wentao said BRICS countries are playing an important role in global economic recovery.

WANG WENTAO Chinese Commerce Minister "We should jointly promote globalization along with more openness, inclusiveness, mutual benefits and win-win cooperation. While we support multilateral trading systems, we are against unilateralism and protectionism. We should build an open world economy and protect the interests of developing countries."

The BRICS countries account for 40% of the world population and a quarter of the global economy. Besides the trade ministers' meeting, there will be a series of ministerial level meetings before the BRICS summit later this year, covering aspects like industries, environment and foreign affairs.

WANG HUI Beijing "Vice Premier Hu Chunhua says that China will continue to work with BRICS member states to implement the goals set during the previous summits. These include facilitating global trade for high-level development and consolidating the bloc's efforts to promote global economic recovery.

(Source: CGTN)