Egyptian Investment and Foreign Trade Minister Mohamed Farid called on BRICS countries to deepen trade and investment integration in new industries, renewable energy and the digital economy during the group’s 16th trade ministers’ meeting in Jaipur.
Speaking at the opening session on Friday, Farid said current challenges, including unilateral trade measures, disrupted global supply chains and increased uncertainty, required closer cooperation among emerging economies to build a more balanced, inclusive and sustainable global trading system.
“BRICS countries have the resources and capabilities needed to turn economic challenges into opportunities for growth and development,” Farid said, according to a statement from the Ministry of Investment and Foreign Trade.
He highlighted the geographic and economic diversity of BRICS members, saying their complementary strengths could help build more integrated production and value chains.
BRICS countries account for more than 27 per cent of global gross domestic product and about 68 per cent of the GDP of the Global South, Farid said. But intra-BRICS trade remained below the bloc’s potential, representing around 5 percent of global trade and roughly 20 percent of trade among Global South countries in 2024, he added.
Farid called for increased trade in manufactured goods and high-value-added products, as well as joint projects in infrastructure, new and renewable energy, information technology and communications.
He also urged the bloc to develop innovative financing tools in cooperation with multilateral development banks, particularly the New Development Bank.
Egypt, which joined BRICS in 2024, attaches great importance to expanding its participation in the group’s mechanisms and activities, Farid said.
He called for joint platforms to turn BRICS initiatives into practical programmes and projects, while prioritising food security, healthcare, job creation, poverty reduction and sustainable development.
India is chairing BRICS in 2026 under the theme “Building Resilience, Innovation, Cooperation and Sustainability,” the statement said.
