New Delhi:
BRICS leaders on Saturday adopted the New Delhi Declarationwith Prime Minister Narendra Modi announcing the consensus document at the bloc’s summit in New Delhi.
The declaration called for reforms of multilateral institutions, including a “structural update” of the United Nations Security Council (UNSC), and strongly condemned terrorism. It also denounced “unilateral acts of war” and stressed the need to ensure safety of seafarers and commercial navigation amid the ongoing military aggression in the Middle East.
China and Russia, the two permanent members of the Security Council represented at the summit, reiterated their support for the aspirations of Brazil and India to play a greater role at the United Nations, including on the Security Council.
The declaration stated intra-BRICS trade should increasingly be conducted in local currencies rather than the US dollar. The declaration specifically called for reform of the UN Security Council, with greater representation for developing countries from Africa, Asia and Latin America and the Caribbean.
“Today’s discussion makes it evident that the changing world cannot be steered by outdated institutions; reforms are essential in representation, responsiveness and rule-making,” PM Modi said in his concluding remarks. “We also emphasised that the Global South must have equal participation in the development of future technologies and the rules governing them.”
“The New Delhi Declaration adopted today provides a clear direction for our shared resolve. It is now our responsibility to translate these resolutions into tangible results,” he added.
PM Modi welcomed world leaders, including Russian President Vladimir Putin and Chinese President Xi Jinping, to the summit on Saturday. The gathering brought together leaders from across the BRICS grouping.
The declaration comes as BRICS marks two decades since its creation and after the grouping expanded beyond its original membership.
BRICS reaffirmed its support for reform of the World Trade Organization (WTO) and for an open, transparent, equitable and rules-based global trading system.
“We note that the multilateral trading system has long been at a crossroads. The proliferation of trade-restrictive actions that are inconsistent with WTO rules, whether in the form of indiscriminate rising of tariffs and non-tariff measures, or protectionism under the guise of environmental objectives, threatens to further reduce global trade, disrupt global supply chains, and introduce uncertainty into international economic and trade activities, potentially exacerbating existing economic disparities and negatively affecting prospects for global economic development,” the Declaration read.
“We voice serious concerns about the rise of unilateral tariff and non-tariff measures which distort trade and are inconsistent with WTO rules. We will work together to enhance the WTO’s responsiveness to trade disruptions and the needs and priorities of emerging markets and developing economies (EMDEs), as well as advance discussions on outstanding issues, and support balanced, inclusive and concrete outcomes that strengthen the multilateral trading system and enable it to better address evolving global challenges,” it continued.
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