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Brazilian President Luiz Inácio Lula da Silva has called for the BRICS meeting to discuss tariffs imposed by US President Donald Trump
External Affairs Minister S Jaishankar on Monday addressed the BRICS Summit and said economic practices must be fair, transparent and to everyone’s benefit in the environment of global uncertainty.
Speaking at the virtual meeting, Jaishankar said that the BRICS’s objective should be to create a more resilient supply chain at this juncture when there are multiple disruptions.
“The world as a collective is seeking a predictable and stable environment for trade and investment. At the same time, it is imperative that economic practices are fair, transparent and to everyone’s benefit. When there are multiple disruptions, our objective should be to prove it against all shorts, which means creating a more resilient supply chain. It is also essential we democratise manufacturing and production," Jaishankar said.
Brazilian President Luiz Inácio Lula da Silva has called for the BRICS meeting to discuss tariffs imposed by US President Donald Trump.
The EAM said that the multilateral system appears to be failing the world in the face of challenges in the last few years.
“The state of the world is a cause of genuine concern. The last few years have witnessed a devastating impact of Covid pandemic, major conflicts in Ukraine and Middle East (west asia), volality in trade and investment flows, extreme climate events and a slowdown of SDG agenda. In the face of these challenges, the multilateral system appears to be failing the world… It is now this cumulative concern that BRICS is discussing. The members of BRICS represent a broad diversity of societies who are nevertheless deeply affected by these developments. Even our endeavour has been to find common grounds between our respective national policies and to act on that basis. Today, the focus is on stabilising the international economy and world order. But it is equally essential to turn our attention to ongoing conflicts, not least because they have direct supply chain implications. Furthermore, as we head towards the next UN General Assembly session and exchanging views on multilateralism would be appropriate," he said.
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