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BRICS is going to agree on e-commerce regulation

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Before the opening of the summit of the BRICS heads of state, which will soon begin, the delegations of the economic ministries of the five countries met. The meeting was the first to discuss e-commerce, as well as ways to regulate and support it, writes "Kommersant." The topic of e-commerce has become a key one.
It is worth noting that all representatives of the countries participating in this meeting agreed on the need to introduce coordinated measures to regulate e-commerce. Thus, according to Alexey Ulyukayev, Russia’s trade turnover with the BRICS countries has doubled over the past seven years. In monetary terms, Russia’s commodity turnover with the BRICS countries reached $107 billion in 2014. As for the total volume of trade between the countries, this figure reached $291 billion.
"Our countries are countries with a large territory and underdeveloped infrastructure of physical trade and investment in this infrastructure. In this sense, e-commerce is very important and of particular importance. It makes it possible to overcome the gap in the accessibility of trade services to the population and to obtain high quality goods and services at low cost, " said Alexey Ulyukaev.
According to the general opinion of the meeting participants, e-commerce in the BRICS countries is developing very rapidly, while being a specific driver of economic growth. For example, in Brazil, the volume of e-commerce market grew by 28% in 2014, compared with 2013. In India, e-commerce is growing by 30% every year, and South Africa is experiencing an "explosion of e-commerce, " according to Rob Davies, the country’s minister of commerce and industry.
Chinese representatives believe that e-commerce allows small- and medium-sized businesses to gain timely access to customers by finding additional markets for their goods. "Farmers can sell their unique products directly to buyers who trust the producers themselves more than intermediaries, " said Wang Shouwen, China’s deputy minister of commerce. Shouwen also expressed the need to confirm the quality of exported goods and simplify customs clearance. Other participants of the meeting agreed with this opinion. "Public procurement participants are bound to conduct bidding electronically. Also, e-commerce helps small and medium enterprises to take a place in regional and global markets, " said Jagdish Saxena Deepak, India’s deputy minister of commerce and industry.
The importance of e-commerce was also noted by Viktor Klimov, the banner of the State Duma Committee on Economic Policy and Entrepreneurship. According to Klimov, for the development of the industry the countries should solve several problems at a time, including the creation of a unified legally significant document turnover, as well as cryptography and identification of transaction participants.
Participants agreed that the action plan to promote cooperation among the BRICS countries in the area of electronic commerce could well be used as the basis for a memorandum of understanding.

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