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JOHANNESBURG • The leaders of the Brics block of emerging economies, meeting the threat threats of US President Donald Trump, yesterday signed a declaration supporting an open and inclusive multilateral trading system according to the rules of the World Organization Trade (WTO). Brazil, Russia, India, China and South Africa have agreed at their three-day summit in South Africa to fight unilateralism and protectionism. "19659002" We reaffirm the centrality of the rules, transparent, non-discriminatory, open and inclusive. the multilateral trading system, as embodied by the World Trade Organization, which promotes a predictable business environment and the centrality of the WTO, "said the statement signed by the five leaders: "We recognize that the multilateral trading system is facing unprecedented challenges We emphasize the importance of an open world economy," said leaders
.They also called on all members of the 39 WTO to abide by the rules of the WTO
These leaders are the first since the US administration launched an effort to rebalance the trade multilateralism that Mr. Trump deemed unjust – relations that the United States formerly defended.
Yesterday, Chinese President Xi Jinping called as the UN and the WTO to fight against unilateralism and protectionism.
Mr. Xi, who directs he second world economy, also called for dialogue to settle disputes over world trade, highlighting the remarks he made at the opening of the summit. previous day. "We need to work together … to safeguard the rules-based multilateral trading regime, promote trade and investment, globalization and facilitation, and simply reject protectionism," he said.
Russian President Vladimir Putin, who held a controversial meeting with Trump last week, echoed calls for closer ties between Brics members and increased trade within the group. 19659002] "Brics has a unique place in the global economy – it is the largest market in the world, the common GDP (Gross Domestic Product) represents 42% of global GDP and it keeps growing", said Putin. ] "In 2017, trade with our Brics countries had increased by 30%, and we aim to develop this type of partnership."
Indian Prime Minister Narendra Modi called on the bloc's members to exploit technology to develop their economies
The Bri This group, which represents more than 40% of the world's population, represents some of the largest emerging economies, but it was hard to find a unified voice
Analysts believe that US trade policy could give the group a renewed sense. "Trade agreements between associations of countries like Brics have become increasingly important," said Kenneth Creamer, an economist at Wits University in Johannesburg. "South Africa and Africa can benefit from growing exports to fast-growing countries like India and China, which have the strategic potential to reshape global trade."
A handful of protesters gathered near the conference room. was in progress. Their leader, activist Trevor Ngwane, said: "None of these heads of state speak for the working class or the poor."
He handed a list of complaints to the South African minister Public Works, Thilas Nxesi. attract investment and create jobs.
REUTERS, FRANCE-PRESS AGENCY
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