BRICS should use trade remedy tools 'prudently'

BRICS countries should use trade remedy tools in a prudent and normative manner, Vice-Minister of Commerce Wang Chao said at a seminar on Sept 12.

The event drew trade remedy institutions from China, Brazil, Russia and South Africa.

"We sincerely hope that trade remedy investigators of BRICS nations strengthen policy coordination, and that they treat trade issues rationally and objectively," Wang said.

"Dialogue and consultation between governments and industries are preferred in addressing trade issues. We reject the abuse of trade remedy tools," Wang said.

The seminar is the first time that the BRICS group — which involves China, Brazil, India, Russia and South Africa — has sat together to discuss trade remedy issues, which consist of anti-dumping, anti-subsidy and safeguard measures.

In the first half of the year, China was hit by 40 trade remedy investigations from 18 countries and regions. Seventy percent originated in major developing countries such as Brazil and India, according to the Ministry of Commerce.

In 2011, China's trade with Brazil, India, Russia and South Africa hit $282.8 billion, accounting for 7.7 of the country's total trade, the ministry said.