Informal BRICS Leaders’ Meeting on the Margins of the G20 Summit

Heads of State and Government of the Federative Republic of Brazil, the Russian Federation, the Republic of India, the People’s Republic of China and the Republic of South Africa, met on 30 November 2018 for the annual Informal BRICS Leaders’ Meeting on the margins of the G20 Summit in Buenos Aires, Argentina.

The leaders exchanged views on international political, security and global economic-financial issues, as well as challenges facing sustainable development. They committed themselves to a world of peace and stability, the central role of the United Nations, the purposes and principles enshrined in the UN Charter, and respect for international law, the promotion of democracy and the rule of law.

Full support for the rules-based multilateral trading system, as embodied in the WTO, to ensure transparent, non-discriminatory, open and inclusive international trade was reaffirmed. It was discussed that spirit and rules of the WTO run counter to unilateral and protectionist measures. Leaders made a plea to all members to oppose such WTO inconsistent measures, stand by their commitments undertaken in the WTO and rollback such measures of a discriminatory and restrictive nature. It was reiterated that the core values and fundamental principles of the WTO should be preserved and interests of all WTO members should be reflected, in particular those of the developing members.

The dispute settlement mechanism of the WTO is essential for its proper functioning. Its effective functioning will give members the required confidence to engage in future negotiating in the WTO. The leaders urged that the Appellate Body selection process be initiated immediately, as an essential prerequisite for the stable and effective functioning of the WTO dispute settlement system. All heads of state reaffirmed their commitment to enhance our communication and cooperation and work jointly and collaboratively with other members to enable the WTO to keep up with the changing times, promote inclusive growth and participation of all countries in international trade and play a meaningful role in global economic governance.

They welcomed the G20 Argentine Presidency’s theme of Building Consensus for Fair and Sustainable Development and its focus on the Future of Work, Infrastructure for Development and Food Security for Sustainable Future.

The joint statement said that “We recognize the importance of infrastructure for development and commit to contribute to bridging the global infrastructure gap, also by mobilizing resources for sustainable and disaster resilient infrastructure through national and collective initiatives, including the New Development Bank.

We reinforce our commitment to the implementation of the 2030 Agenda for Sustainable Development and the Sustainable Development Goals that would provide equitable, inclusive, open, all-round innovation-driven and sustainable development, in its three dimensions – economic, social and environmental – in a balanced and integrated manner, towards the ultimate goal of eradicating poverty by 2030. We urge developed countries to honour their ODA commitments fully, in time and to provide additional development resources to developing countries in accordance with the Addis Ababa Action Agenda.”

Regarding Climate Change, they leaders restated their commitment to the full implementation of the Paris Agreement adopted under the principles of the UNFCCC including the principles of common but differentiated responsibilities and respective capabilities, and urged developed countries to provide financial, technological and capacity-building support to developing countries to enhance their capability in mitigation and adaptation.