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Brics advocate multilateralism in trade

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Countries issued final communique after meetings in Johannesburg

The fight against unilateralism and protectionism was defended by BRIC member countries, an economic bloc formed by Brazil, Russia, India, China and South Africa, in a joint statement released on Thursday (27), after the group’s 10th summit , in the South African city of Johannesburg.

“Under the rules of the World Trade Organization (WTO), we support and reaffirm transparent and multilateral trade,” the statement said, not quoting US President Donald Trump’s fees for foreign minerals. The statement also says that world trade faces unprecedented challenges and calls for an open world economy in which all countries and peoples can enjoy the benefits of globalization.

In a meeting last Thursday (26), the Brazilian president, Michel Temer, expressed interest in increasing exports of chicken and sugar to China, which imposes taxes on Brazilian products to stimulate the local market, despite the president’s “We have to reject unilateralism, the market and trade have to be opened up,” Xi said, referring to Trump’s economic policy.

The BRIC energy ministers also agreed on the founding of a collaborative energy research platform that will still be idealized. Another agreement provides for the installation of a regional office in Brazil of Novo Banco do Desenvolvimento, an institution created by the bloc to finance infrastructure projects. “We have signed this agreement and arrangements will be made immediately for installation, starting with the headquarters in São Paulo,” Foreign Minister Aloysio Nunes told Agência Brasil.

The member countries also committed to establish partnerships for the development of regional aviation and cooperation on environmental issues. The summit ends on Friday (27), with the meetings of the ministers of state invited by BRICS Plus, which brings together Argentina, Egypt, Jamaica and Turkey, and the “BRICS Africa Solidarity Session” with heads of state and ministers from African countries invited by the President of South Africa, Cyril Ramaphosa.