New Delhi [India], September 12 (ANI): BRICS nations have called for the immediate restoration of a fully functioning, two-tier World Trade Organization (WTO) dispute settlement mechanism and the appointment of new Appellate Body members, as the bloc pushed for reforms to strengthen the global trading system.
In the New Delhi Declaration adopted at the 18th BRICS Summit, the member countries reaffirmed their support for WTO reform and a non-discriminatory, open, equitable, transparent and rules-based multilateral trading system, with the WTO at its core.
“We strongly advocate for the immediate restoration of an accessible, effective, fully functioning, two-tier binding WTO dispute settlement mechanism as a foundation for trust and predictability for all WTO members,” the declaration said.
BRICS nations also called for the appointment of new members to the WTO Appellate Body “without further delay” and said they would continue engaging constructively on reforms aimed at improving the organisation's authority, effectiveness, inclusiveness and relevance.
The declaration said BRICS would remain committed to resolving outstanding WTO issues and implementing the outcomes of the 14th Ministerial Conference. The grouping will also strengthen coordination through its Informal Consultative Framework on challenges affecting the effectiveness and credibility of the WTO.
The call comes as BRICS nations raised concerns over increasing trade-restrictive measures, including tariffs and non-tariff measures, saying these could disrupt global trade and supply chains and create uncertainty for international economic and trade activity.
“We voice serious concerns about the rise of unilateral tariff and non-tariff measures which distort trade and are inconsistent with WTO rules,” the declaration said.
BRICS said it would work together to make the WTO more responsive to trade disruptions and the needs and priorities of emerging markets and developing economies, while supporting “balanced, inclusive and concrete outcomes” to strengthen the multilateral trading system.
The grouping also strongly supported Ethiopia and Iran's bids to join the WTO, saying this would help advance the aspirations of the Global South to become fully integrated into the multilateral trading system.
Separately, BRICS acknowledged China's expansion of zero-tariff treatment to 53 African countries with which it has diplomatic ties.
The declaration also called for exploring forward-looking rules within the WTO framework and appropriate pathways for plurilateral initiatives, particularly on development-oriented issues.
The push for WTO reform forms part of BRICS' broader effort to strengthen multilateral economic cooperation and secure greater representation for emerging and developing economies in global economic governance. (ANI)
BRICS calls for immediate restoration of WTO dispute settlement mechanism
