STOCK MARKET BSE NSE

BRICS leaders vow to strengthen multilateralism, fight terror together

They also demanded the Appellate Body selection process be initiated immediately as an "essential prerequisite" for the stable and effective functioning of the WTO's dispute settlement system.

Published: 01st December 2018 01:19 AM  |   Last Updated: 01st December 2018 01:19 AM   |  A+A-

Informal BRICS Leaders' Meeting on the Margins of the G20 Summit. (Photo: Twitter / MEAIndia)

By IANS

BUENOS AIRES: The BRICS leaders on Friday vowed to strengthen multilateralism and promote a fair and equitable international order and called for "concerted efforts" to counter terrorism.

Meeting on the sidelines of the G-20 summit here, the leaders of Brazil, Russia, India, China and South Africa called for opposing unilateral and protectionist trade measures which run contrary to the "spirit and rules of the WTO (World Trade Organisation)".

In a joint statement after the meet, the BRICS leaders said: "We reiterate our commitment to working together to strengthen multi-lateralism and promote a fair, just, equitable, democratic and representative international order."

ALSO READ | PM Modi, Trump, Shinzo Abe discuss major issues of global interests on G-20 sidelines

Deploring the continued terrorist attacks, including against some BRICS countries, they said that they condemn terrorism in "all forms and manifestations, wherever committed and by whomsoever".

"We urge concerted efforts to counter terrorism under the UN auspices on a firm international legal basis. We call upon all nations to adopt a comprehensive approach in combating terrorism, including all the elements identified in the Johannesburg Declaration," the joint statement said.

The leaders reaffirmed their "full support" for the "rules-based multilateral trading system as embodied in the WTO" to ensure transparent, non-discriminatory, open and inclusive international trade.

"The spirit and rules of the WTO run counter to unilateral and protectionist measures. We call on all members to oppose such WTO inconsistent measures, stand by their commitments undertaken in the WTO and roll back such measures of a discriminatory and restrictive nature," the statement read.

To enhance the relevance and effectiveness of the WTO, the BRICS leaders underlined that a new and improved WTO, while preserving its core value and fundamental principles, should reflect interests of all members, in particular those of the developing nations.

They also demanded the Appellate Body selection process be initiated immediately as an "essential prerequisite" for the stable and effective functioning of the WTO's dispute settlement system.

"We advocate a strong global financial safety net with an adequately resourced, quota-based International Monetary Fund (IMF) at its centre.

ALSO READ | PM Modi meets Chinese President Xi Jinping on G20 summit sidelines

For combating the climate change, the leaders once again committed to fully implementing the Paris Agreement adopted under the principles of the UNFCCC and urged the developed countries to provide financial, technological and capacity-building support to developing countries to enhance their capability in mitigation and adaptation.

More from World.

Comments

Disclaimer : We respect your thoughts and views! But we need to be judicious while moderating your comments. All the comments will be moderated by the newindianexpress.com editorial. Abstain from posting comments that are obscene, defamatory or inflammatory, and do not indulge in personal attacks. Try to avoid outside hyperlinks inside the comment. Help us delete comments that do not follow these guidelines.

The views expressed in comments published on newindianexpress.com are those of the comment writers alone. They do not represent the views or opinions of newindianexpress.com or its staff, nor do they represent the views or opinions of The New Indian Express Group, or any entity of, or affiliated with, The New Indian Express Group. newindianexpress.com reserves the right to take any or all comments down at any time.

IPL_2020
flipboard facebook twitter whatsapp