The Dialogue on Digital Economy of BRICS is scheduled to be held in Xiamen, Fujian province on Sept 8. [Photo/WeChat account: xiamen_swj]

The Dialogue on Digital Economy of BRICS will be held in Xiamen, Fujian province on Sept 8 in order to further promote the economic communication and cooperation with other four BRICS countries – Brazil, Russia, India, and South Africa.

International organizations, representatives and companies from the BRICS countries will attend the event to deliver presentations and carry out dialogues on topics relate to digital economy cooperation, the digital transformation of industries, and digital innovation.

Fujian province has recently been focusing on developing foreign trade with the four countries.

Brazil is the province's biggest trade partner in South America. The total import and export trade volume between the province and Brazil was 56.78 billion yuan ($8.23 billion) in 2021, an increase of 15.4 percent year-on-year, with display boards, steel, and fertilizers being the major exports to Brazil, and iron ore and soybeans being its major imports.

Russia is the province's third largest trade partner on the Eurasian continent. The total import and export trade volume between the province and Russia was 33.96 billion yuan in 2021, an increase of 19.67 percent year-on-year. The province's major exports to Russia were clothes and shoes, steel, and aquatic products, while its major imports were coal and lignite, crude oil, and alcohols.

India is the province's largest trade partner in Southeast Asia, with the total import and export trade volume amounting to 30.36 billion yuan in 2021, up 21.2 percent year-on-year. The province's major exports to India were textile products, computers and electronic components, while its major imports were granite, basalt, sandstone, textile raw materials, and organic chemicals.

South Africa is the province's largest trade partner in Africa. In 2021, the total import and export trade volume between the province and South Africa hit 20.86 billion yuan, an increase of 35 percent year-on-year. The province's major exports to South Africa were textile raw materials and products, and its major imports were ore and ore concentrates.

Brazil, Russia, India, and South Africa have invested in 25, 67, 72, and 38 projects in Fujian province, respectively, as of the end of 2021.