The MoU signed by BRICS Labour and Employment Ministers (LEM), in August has been approved by all members if state. The MoU was aimed at advancing cooperation in the social and labour sphere.
All parties have agreed to cooperate and host mutual event for key sectors like labour legislation and enforcement, protection of workers’ rights with focus on vulnerable groups, employment and labour market policies, professional education, skills training and Social protection.
The goal is to use BRICS intuitions like the BRICS Network of Labour Research Institutes and BRICS Social Security Cooperation Framework to build up Social Security and tackle labour issues. The MoU creates an opportunity to partner up and maximize synergy among the BRICS countries. This in part is to achieve the larger goal of inclusive growth and shared prosperity in the new industrial revolution.
The MoU allows the sharing of knowledge and the implementation of collaborative projects and programmes in matters of Labour and Employment, Social Security and Social dialogue.
Another benefit of the MoU is the networking of international Training Centre of International Labour Organisation (ILO). Also the BRICS Network of Labour Institutes providing a strong focus on Youth Employment and new type of employment.