Finance Ministers and Central Bank Governors from BRICS nations have strongly condemned the use of tariffs and non-tariff measures that contravene WTO rules. During their first meeting under Brazil’s leadership, the group emphasized their unified stance against such practices. The meeting reinforced the dedication to a trading system that is fair, open, and inclusive. The ministers highlighted the resilience of BRICS member states amid global economic uncertainty, and expressed their commitment to preventing trade wars. They also reiterated the importance of central banks’ price stability mandates. Furthermore, they discussed strategies for de-escalating trade tensions, fostering balanced global growth, and addressing debt concerns in Emerging Markets and Developing Economies. Prime Minister Narendra Modi is in Brazil to participate in the 17th BRICS Summit, where they will discuss several global challenges.
