China and other BRICS countries pledged Wednesday to fight protectionism and protect intellectual property rights, although US President Donald Trump is considering action against what he considers as business practices Unjust by China.
Trade ministers from Brazil, Russia, India, China and South Africa concluded two days of meetings in Shanghai agreeing to deepen trade ties And investment, and "safeguard and develop" the multilateral trading system, according to a statement by Chinese Minister of Commerce Zhong Shan.
"Ministers committed to continue to firmly oppose trade protectionism and investment, reaffirmed their current promise for the halt and resumption of protectionist measures and called on Countries to join this commitment, "the statement said.
Ministers also approved guidelines for cooperation among the five countries on intellectual property rights (IPR). "Ministers agreed to promote trade and cooperation on legislation and enforcement of IPRs in order to create favorable conditions for economic development focused on trade and innovation," said communicated.
Chinese Minister of Commerce Zhong Shan attends a BRICS press conference (Brazil, Russia, India, China and South Africa) meeting of trade ministers in Shanghai, China on August 2, 2017.Aly Song
On Tuesday, a senior Trump administration official said Trump could decide as early as this week on the response to what he considers unfair trade practices from China.