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BRICS Countries to Discuss Free Zones in Member Nations

2017-09-01 15:18:49

BRICS countries will discuss the potential of establishing free zones in member countries during the summit to be held in September, head of the think tank with the nation's top economic regulator said on Thursday.

 

"By the end of 2020, BRICS members should set up clear roadmaps for promoting trade across countries," said Ye Fujing, director of the Institute for International Economic Research, a think tank with the National Development and Reform Commission.

 

Ye said establishing free zones in member countries will be part of efforts to promote trade and investment.

 

There is no specific timeline for their establishment, according to Ye.

 

Prior to establishing free trade zones, members are able to set up preferential trade and investment agreements under the WTO framework, he added.

 

BRICS Summit will be held in Xiamen, Fujian province, from Sept 3 to 5.