China’s State Council Information Office held a press conference on Monday outlining the import and export performance during the first three quarters of 2024. Vice Minister Wang Lingjun, Deputy Director of the General Administration of Customs, highlighted the importance of the BRICS cooperation mechanism in uniting emerging markets and developing nations.

Wang revealed that China’s trade with BRICS countries grew by 5.1% year-on-year from January to September, reaching 4.62 trillion yuan (approximately $653 billion). He emphasized the role of the BRICS cooperation framework as a vital platform for fostering collaboration among developing and emerging economies, aiding in the protection of their shared interests.

Following the addition of five new members earlier this year, BRICS now represents over one-fifth of global trade, further cementing its influence in the world economy, Wang noted. He also highlighted the complementary nature of BRICS member nations in producing industrial intermediate goods, pointing out their synergistic strengths in key sectors such as steel, chemicals, and textiles. Formed in 2006, BRICS initially consisted of Brazil, Russia, India, and China, with South Africa joining in 2011. This year, the group expanded to include Egypt, Iran, the United Arab Emirates (UAE), Saudi Arabia, and Ethiopia as full members starting on Jan. 1. The next BRICS summit will take place from Oct. 22-24 in Kazan, Russia, under Russia’s presidency.

Earlier this month, Russian President Vladimir Putin highlighted the strong ties between Russia and China in a message marking the 75th anniversary of the People’s Republic of China. He pointed out the durability of their economic partnership, noting that both countries had managed to expand trade volumes and complete major projects despite global challenges. Putin emphasized the importance of maintaining close, cooperative relations with Beijing, particularly in light of the current international climate, where trade and joint ventures have seen significant growth across various sectors.

Last week, Chinese State Councilor Shen Yiqin reaffirmed China’s commitment to strengthening relations with Russia. At the Russian embassy in Beijing, Shen stressed China’s willingness to deepen international collaboration, particularly through platforms like BRICS and the Shanghai Cooperation Organization (SCO). She underscored the importance of promoting multipolarity, supporting international fairness, and enhancing cooperation within these global institutions to unify the Global South and work toward building a community with shared global goals.

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