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BRICS nations call for cancellation of unilateral trade measures — Russian minister

Russian Minister of Economic Development Maxim Oreshkin said "any unilateral actions must be canceled as they negatively impact global development"

© Mikhail Klimentyev/Russian Presidential Press and Information Office/TASS

BUENOS AIRES, November 30. /TASS/. The BRICS (Brazil, Russia, India, China and South Africa) nations share the opinion that all unilaterally imposed trade measures should be canceled, Russian Minister of Economic Development Maxim Oreshkin said on Friday.

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WTO needs reforms, but its role should not be weakened — Medvedev

"The position that has been declared is that all unilateral measures that have been adopted and used in the recent years, should be canceled. This is a common position of the BRICS nations," he told journalists at the G20 summit.

The BRICS nations plan to agree on an initiative at the G20 summit to modernize existing trade instruments, in particular the World Trade Organization (WTO). "It [WTO] should be developed. The key principle is that the World Trade Organization remains the only platform authorized to set global trade rules and any unilateral actions must be canceled as they negatively impact global development," Oreshkin stressed.

This position, in his words, was elaborated by Russia jointly with China. "In the past several weeks, we have been working actively to persuade others that these wordings, these positions are right. We have managed to do that, so it is a common position of the BRICS nations on the situation in global trade," he said, adding that there are no guarantees that these proposals would be included in the final statement.

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