BUENOS AIRES, May 22. /TASS/. BRICS member states have agreed a joint plan of action on the development of small and medium-sized enterprises in the countries of the association for 2025-2030 for the first time amid the tariff policy of the US President Donald Trump administration, Brazilian Minister of Entrepreneurship, Microenterprise and Small Business Marcio Franca said.

"The initiative that was officially launched under Russia’s chairmanship last year, and now under the leadership of Brazil, is gaining a special and institutional form," the minister was quoted by a government agency of Brazil. "The creation of this group within the framework of the partnership <…> is a strategic milestone that will enable us to extend exchange of experience in the area of global economy," he said at a meeting of industry and energy ministers of BRICS countries in Brasilia. Following the meeting, the members of the integration also passed a declaration on support of the free trade regime in global economy.

"The extension of trade restriction policies, including in the form of arbitrary tariff hikes <…>, may spur a further contraction of global trade, violation of supply chains, and uncertainty brought to global economic and commercial activities," according to the declaration published by the press service of the Brazilian government.

The participants of the Brasilia meeting also discussed drafting a comprehensive Strategy for BRICS economic partnership through 2030. It is expected to be endorsed by leaders of member states at a meeting to be held in Brazil’s Rio de Janeiro on July 6 and 7.