In a significant stride towards fostering deeper collaboration and economic integration among the BRICS nations, China has announced the establishment of a China Center for Cooperation on Development of Special Economic Zones (SEZs) across BRICS countries.
This innovative move, which was officially unveiled on Thursday by a spokesperson from China’s Ministry of Commerce (MOFCOM), is expected to play a pivotal role in enhancing connectivity, industrial coordination, policy exchange, and experience sharing among BRICS members.The initiative is part of China’s broader strategy to promote pragmatic economic and trade cooperation within the BRICS framework, which includes Brazil, Russia, India, China, and South Africa, along with its newly expanded membership.
China’s announcement is not limited to the creation of this center. During the 2023 BRICS Summit, China’s top leadership also revealed the formation of additional institutions such as the BRICS Deep-Sea Resources International Research Center, the China Center for BRICS Industrial Competencies, and the BRICS Digital Ecosystem Cooperation Network, marking a multifaceted approach to deepening the ties among member countries. These efforts highlight China’s commitment to a diversified and cooperative global economy and reflect the country’s strategic interest in reinforcing BRICS as a global platform for economic collaboration.
Special Economic Zones (SEZs) have long served as powerful engines for economic development by offering tax incentives, reduced tariffs, and streamlined regulations that attract foreign investment, facilitate trade, and promote industrial growth. SEZs include a wide variety of economic zones, such as free ports, free trade zones, industrial parks, and high-tech parks, each designed to spur industrial activity and trade cooperation.
At a press conference in Beijing, MOFCOM spokesperson He Yadong emphasized the importance of these SEZs in promoting trade and investment collaboration among BRICS members. He highlighted that the new China Center for Cooperation on Development of SEZs will serve as a key platform for pooling expertise, sharing successful experiences, and aligning industrial policies across BRICS nations, which will drive broader and more dynamic economic interactions.
“Special Economic Zones are critical mechanisms for enhancing trade cooperation and investment among BRICS countries,” said He. “China is ready to work with BRICS partners to promote deeper economic and trade cooperation, bringing these ties to new heights.”
The establishment of the China Center for Cooperation on Development of SEZs is part of China’s larger agenda to foster closer collaboration in industrial coordination, promote research in economic policies, and enhance the exchange of experiences in running SEZs. The center aims to provide a platform where BRICS members can jointly address challenges, optimize the performance of their SEZs, and develop synergies that strengthen the bloc’s overall economic resilience.
This year’s BRICS Summit marked a historic turning point for the bloc, particularly with the decision to enlarge its membership. This expansion not only underscores BRICS’ growing influence on the global stage but also signals the bloc’s ambitions to create new economic opportunities for its members. The consensus reached at the summit to bolster cooperation in areas such as special economic zones, agricultural trade facilitation, and environmental and climate-related trade measures reflects the bloc’s pragmatic approach to addressing key global challenges.
China’s leadership role in these initiatives further consolidates its position as a driving force within BRICS. According to Zhang Hong, an associate research fellow at the Institute of Russian, Eastern European, and Central Asian Studies at the Chinese Academy of Social Sciences, the enlargement of BRICS will generate fresh momentum for economic collaboration. “With a growing membership, BRICS will unlock more market opportunities for its members, injecting new energy into their economic growth,” Zhang said in an interview with the Global Times.
Zhang noted that BRICS nations are increasingly expected to take coordinated actions to enhance trade facilitation and reduce barriers such as tariffs. “The economic and trade cooperation among BRICS countries will be more structured and robust, especially with China pushing for deeper cooperation in areas such as SEZs, digital ecosystems, and green trade,” Zhang added.
One of the key pillars of BRICS’ development strategy is fostering industrial coordination among member countries. With the establishment of the China Center for BRICS Industrial Competencies, the focus will be on aligning industrial capacities, facilitating knowledge transfer, and encouraging joint ventures and partnerships. This institution will act as a catalyst for coordinated industrial growth across sectors such as manufacturing, energy, infrastructure, and high technology.
China’s initiatives, particularly in industrial coordination, are expected to lead to increased synergies between BRICS economies, creating opportunities for shared prosperity. These moves are also intended to reduce the developmental gaps between BRICS members by ensuring that industrial knowledge and innovation can flow more freely between countries. By aligning policies and investments, BRICS nations will be better positioned to capitalize on global economic trends and maintain their competitiveness in the global marketplace.
The China Center for BRICS Industrial Competencies will further solidify industrial ties by organizing regular forums and workshops where policymakers and industry leaders can share their experiences and jointly craft strategies to promote innovation and technological development. Such a collaborative environment will enable BRICS nations to align their industrial strategies more closely, ensuring that they can collectively meet the demands of the evolving global economy.
Another important initiative unveiled at the summit is the BRICS Digital Ecosystem Cooperation Network. As the global economy increasingly shifts towards digitization, BRICS members recognize the importance of building a robust and cooperative digital infrastructure. The new digital ecosystem network is intended to facilitate cooperation in areas such as e-commerce, digital finance, data management, and cybersecurity. It will also promote collaboration in the development of 5G networks, artificial intelligence, and big data technologies, positioning BRICS nations at the forefront of the global digital economy.
China’s emphasis on digital cooperation reflects its broader ambitions to lead in the global tech landscape, while simultaneously helping BRICS nations reduce their dependence on Western digital infrastructure. By creating a dedicated network for digital cooperation, BRICS members will be better equipped to collaborate on the development of cutting-edge technologies, ensuring that they can maintain their technological competitiveness on the global stage.
The BRICS Digital Ecosystem Cooperation Network will not only strengthen economic ties but also create opportunities for businesses within the bloc to expand their digital footprints. The digital network will enable businesses from BRICS countries to access new markets and consumers, particularly through the promotion of cross-border e-commerce, which is expected to be a major driver of growth in the coming years.
In another significant development, China also announced the creation of the BRICS Deep-Sea Resources International Research Center, which will focus on exploring the sustainable use of deep-sea resources, a frontier of strategic importance in the global race for resource security. The center will focus on research and development (R&D) initiatives related to the exploration and extraction of deep-sea minerals, including rare earth elements that are crucial for high-tech industries.
This research center will provide BRICS nations with the ability to pool resources and expertise in marine sciences, ensuring that they can collectively explore and exploit the vast resources that lie beneath the ocean floor. The center will also focus on sustainable practices, ensuring that deep-sea exploration is conducted in an environmentally responsible manner, aligning with global sustainability goals.
With China’s expertise in deep-sea exploration, the new research center is expected to lead the way in developing innovative technologies for the extraction of marine resources, while ensuring that these activities do not harm the environment. The center will also create a platform for BRICS nations to collaborate on the development of marine technologies, further cementing their position as leaders in the sustainable use of ocean resources.
The expansion of the BRICS bloc during the 2023 summit has added a new dimension to the group’s economic and geopolitical significance. With more countries expressing interest in joining BRICS, the group is poised to play an even larger role in shaping the future of global trade and investment. The addition of new members brings with it new market opportunities, expanded resource bases, and increased influence in global economic governance.
BRICS’ expansion also reflects the bloc’s growing appeal as a counterbalance to traditional Western-dominated financial and economic institutions. By offering an alternative platform for economic cooperation, BRICS provides member countries with the opportunity to engage in a more equitable and inclusive global economic system.
The inclusion of new members into BRICS is expected to spur further economic integration within the bloc, as countries work together to harmonize their trade policies, reduce barriers to investment, and enhance the connectivity of their industries. This expanded cooperation will create a more dynamic and resilient economic bloc, capable of weathering global economic challenges and driving sustained growth.
