Left Menu
Development News Edition

BRICS leaders declare common stand on WTO reform


Leaders of the emerging economies' bloc BRICS declared their common stand on the reform of the World Trade Organisation (WTO) here on Friday.

A communique was issued after Brazilian President Michel Temer, Russian President Vladimir Putin, Indian Prime Minister Narendra Modi, Chinese President Xi Jinping and South African President Cyril Ramaphosa held an informal meeting on the sidelines of G-20 Summit.

BRICS countries agreed that full support should be given to the rules-based multilateral trading system represented by the WTO and to ensure transparent, non-discriminatory, open and inclusive international trade, according to the document, Xinhua news agency reported.

The document called on all WTO members to oppose unilateral and protectionist measures that disaccord with WTO rules and withdraw such measures that are restrictive and discriminatory in their nature.

BRICS countries pledged to support the improvement of the WTO, increase its relevance and validity and safeguard the core values and basic principles of the WTO, and agreed that the WTO should embody the interests of all members, developing economies in particular.

They stressed the importance of the dispute settlement mechanism in the smooth operation of the WTO, calling for starting, as soon as possible, the selection process to fill the vacancies in the Appellate Body, so as to maintain the stable and valid operation of the dispute settlement system.

BRICS countries, according to the document, vowed to strengthen communication and cooperation and work with other members to ensure the WTO keep abreast of the times, advance inclusive growth and the participation of various countries in international trade, and play a significant part in global governance.

In the meantime, BRICS countries reiterated their commitment to world peace and stability and support for the central role played by the UN.

They pledged joint efforts to strengthen multilateralism, strive for an international order that is fair, just, equal, democratic and representative and implement the UN 2030 Agenda for Sustainable Development and the Paris Agreement on climate change.

BRICS countries reiterated that they would strengthen their strategic partnership and implement the achievements in their cooperation such as the Partnership on New Industrial Revolution, the document read.

The common stand demonstrated the constructive and responsible role played by BRICS countries in international affairs.

It also showed the aspiration of emerging market economies and developing countries to strengthen unity and cooperation and safeguard common interests.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)


TRENDING

OPINION/BLOG/INTERVIEW

JNU Administration's 100-meter challenge before JNUSU

For the first time in its history, Jawaharlal Nehru University JNU Administration is seeking permanent deployment of local police to keep protesting students at 100 meters away from the Administrative Block. It would be interesting to see h...

Sentiment Analysis of Twitter users during COP25: Governments losing trust on Climate Action

Sentiment analysis of Twitter users during COP25 in Madrid, being held from December 2-13, shows widespread fear on climate change due to global warming but almost no trust on governments in meeting the emission targets. In the analysis the...

These innovators are making humanitarian response more efficient

These alarming trends prompt a call for the world to not only address the ongoing crisis but also to adopt innovative approaches to fulfill the growing humanitarian needs in such emergencies. ...

Hyderabad Encounter: A sentiment analysis of public mood on day of encounter

Sentiment analysis of twitter users revealed that they showered salutes on Hyderabad police for eliminating alleged gang rapists of the veterinary doctor but only a few believe in cops version of successive events leading to encounter....

Videos

Latest News

Delhi's air quality improves marginally after increase in wind speed

Due to an increase in the wind speed and light showers, the pollution levels of the national capital slightly improved to the poor category on Saturday with overall air quality index AQI at 280, said System of Air Quality and Weather Foreca...

Giannis pours in 37 as Bucks with 17th straight

Giannis Antetokounmpo returned from a one-game absence to post 37 points and 11 rebounds, and the visiting Milwaukee Bucks rallied past the Memphis Grizzlies 127-114 for their 17th consecutive win. Milwaukee now has the second-longest winni...

BCCI confirms Shardul Thakur as Bhuvneshwar's replacement for West Indies ODIs

Mumbai pacer Shardul Thakur has been named as replacement for the injured Bhuvneshwar Kumar for the three-match ODI series against West Indies, beginning here on Sunday. A BCCI press release on Saturday said the All-India Senior Selection C...

New Zealand divers attempt to recover last 2 volcano victims

Police divers returned to the waters around New Zealands volcanic White Island at dawn Saturday to search for the remaining two victims of an eruption that left at least 16 dead and dozens severely burned. Military specialists on Friday rec...

Give Feedback