(File photo)

To strengthen economic ties among BRICS members, Chinese experts have suggested setting up a free trade area (FTA) for the economic bloc, according to a report issued ahead of the BRICS Xiamen Summit next week.

Published by Social Sciences Academic Press on Thursday, the report, compiled by experts from the Chinese Academy of Social Sciences and several universities, pointed out that a BRICS free trade area would yield way more advantages than disadvantages for the members’ economic development. It also reemphasized the goal of building an integrated market among members to improve the trade environment, especially as competition between BRICS members on trade and economic interests’ heats up.

The goal of building an integrated market was first proposed by Chinese President Xi Jinping in 2013 at the BRICS Durban Summit, which was expected to give momentum for cooperation among developing countries and promote world economic recovery and growth, the report noted.

The report also called on members to strengthen BRICS cooperation mechanisms so the organization can hold more discourse power in the global arena. It suggested that more enterprises and non-government organizations participate in the cooperation to enhance ties among members.