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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