11th BRICS Summit: Boost to Multilateralism
The 11th BRICS Summit which has the theme ‘Economic Growth for an Innovative Future’ was held recently in Brazil.
Highlights of the Brasilia Declaration
- Reforming Multilateral Systems: There is an urgent need to strengthen and reform the United Nations and other multilateral organizations like World Trade Organization (WTO) and International Monetary Fund (IMF).
- Support to Multilateralism: The trade war between China and the U.S. and rising protectionism is hurting the global economy. Multilateralism is crucial for emerging countries to protect their own interests.
- Free Trade: Interest in open and free trade was reiterated, despite growing protectionist tendencies.
- BRICS Business Council: The ....
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