BRICS Raises Alarms Over Unilateral Trade Measures

Pretoria: BRICS has expressed concern over the rise in unilateral tariff and non-tariff measures, asserting that such actions disrupt trade and conflict with World Trade Organization (WTO) rules. The BRICS New Delhi declaration emphasized that the growing trend of trade-restrictive actions, justified under various guises including environmental objectives, risks further reducing global trade, disrupting supply chains, and exacerbating economic disparities. According to South African Government News Agency, the WTO is the institution responsible for overseeing the global rules-based trading system among nations. India is currently hosting the 18th BRICS Summit under the theme 'Building for Resilience, Innovation, Cooperation and Sustainability', which reflects a people-centred and humanity-first approach. The declaration was adopted on the first day of the Summit, highlighting that the multilateral trading system is facing significant challenges. BRICS reiterated its concerns about the increase in unilateral tariff and non-tariff measures that distort trade and contravene WTO rules. The group committed to working together to enhance the WTO's ability to respond to trade disruptions, address the needs of emerging markets and developing economies, and pursue balanced outcomes that strengthen the multilateral trading system. The declaration reaffirmed BRICS' support for reforming the WTO to ensure a non-discriminatory, open, equitable, and rules-based multilateral trading system. BRICS also emphasized principles like Most-Favoured-Nation Treatment and Special and Differential Treatment for developing members, notably least-developed countries. BRICS has grown from its original members-Brazil, Russia, India, China, and South Africa-to include Egypt, Ethiopia, Iran, Saudi Arabia, the United Arab Emirates, and Indonesia as full members. The 2025 partner-country framework will further expand to include Belarus, Bolivia, Cuba, Kazakhstan, Malaysia, Nigeria, Thailand, Uganda, Uzbekistan, and Vietnam. According to India 's BRICS Presidency, the 11 member countries represent around 49.5% of the world's population, 40% of global GDP, and 26% of global trade. The grouping offers a platform for consultation on global and regional issues, spanning political, economic, financial, and people-to-people cooperation.