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BRICS leaders urge fighting protectionism

November 30, 18:58 UTC+3 BUENOS AIRES

The member states believe that the spirit and rules of the WTO run counter to unilateral and protectionist measures

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BUENOS AIRES, November 30. /TASS/. The leaders of the BRICS countries (Russia, Brazil, India, China, South Africa) called on all member states of the World Trade Organization to combat unilateral and protectionist measures that run counter to the WTO rules.

This is according to the joint statement the BRICS leader published after their informal meeting on the margins of the G-20 summit.

"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 rollback such measures of a discriminatory and restrictive nature," the statement says.

The leaders of the BRICS countries 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."

"We express our common readiness to engage in frank and result-oriented discussions with other WTO members with a view to improving the functioning of the WTO," the BRICS leaders say.

"In this work the core value and fundamental principles of the WTO should be preserved and interests of all WTO members should be reflected, in particular those of the developing members," they stress.

According to the statement, "the dispute settlement mechanism of the WTO is essential for its proper functioning."

"Its effective functioning will give members the required confidence to engage in future negotiating in the WTO. We therefore urge that the Appellate Body selection process be initiated immediately, as an essential prerequisite for the stable and effective functioning of the WTO dispute settlement system," the document stresses.

"We reaffirm our commitment to enhance our communication and cooperation and work jointly and collaboratively with other members to enable the WTO to keep up with the changing times, promote inclusive growth and participation of all countries in international trade and play a meaningful role in global economic governance," the leaders of BRICS state.

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