BRIC experts discuss disparities in trade

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The representatives of Brazil, Russia, India and China, who gathered at the BRIC-Think Tank Summit in the Brazilian capital Brasilia, discussed on Wednesday the different aspects of trade involving their countries.

In the second session of the summit, following a first one focused on the BRIC's role amid the international financial crisis, the representatives analyzed the weight of the BRIC countries in global trade, as well as trade between the members of the group.

According to Renato Baumann with the Economic Commission for Latin America and the Caribbean, the participation of the BRIC countries in the global trade increased considerably in the past few years, so did the trade between the four countries. Brazil's trade with China, for example, has increased significantly since the beginning of this decade.

Zhang Yuyang with the Chinese Academy of Social Sciences said that the BRIC countries should discuss their current trade situation so as to find better ways to boost trade.

Vladimir Davydov, an expert with the Russian Academy of Sciences' Latin American Institute, said that the BRIC countries must engage in joint projects in order to boost trade and promote development. Those projects, he said, could be in such fields as space technology and alternative energy.

The experts agreed that although progress has been made, there are still many challenges ahead for the four countries in terms of trade.

The BRIC-Think Tank Summit will last until Thursday, and the participants will also discuss topics like foreign direct investment and technological innovation.

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