BRICS nations pledge unity against US trade war threat

The heads of the so-called BRICS -- Brazil, Russia, India, China and South Africa -- met for an annual summit dominated by the risk of a global US-led trade war, although leaders did not publicly mention President Donald Trump by name.

BRICS nations pledge unity against US trade war threat

World Bulletin / News Desk

Five of the biggest emerging economies on Thursday stood by the multilateral system and vowed to strengthen economic cooperation in the face of US tariff threats and unilateralism.

"We should stay committed to multilateralism," China's President Xi Jinping said on the second day of the Johannesburg talks. 

"The escalation of protectionism and unilateralism are directly affecting... emerging markets," he said in a statement in the day's opening session.

"Closer economic cooperation for shared prosperity is the original purpose and priority of BRICS."

Russian President Vladimir Putin, who held a controversial meeting with Trump last week, echoed the calls for closer ties among BRICS members and for stronger trade within group.

"BRICS has a unique place in the global economy -- this is the largest market in the world, the joint GDP is 42 percent of the global GDP and it keeps growing," Putin said.

"In 2017, the trade with our BRICS countries has grown 30 percent, and we are aiming at further developing this kind of partnership."

Last Mod: 26 Temmuz 2018, 17:20
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