The BRICS summit in its Johannesburg Declaration has reaffirmed the principles of democracy and inclusiveness, implementation of the UN charter and respect for Rule of law.
Brazil, Russia, India, China and South Africa at their 2nd day of three-day summit in South Africa yesterday also agreed to fight unilateralism and protectionism.
Leaders of the BRICS bloc of emerging economies reaffirmed the centrality of the rules-based, transparent, non-discriminatory, open and inclusive multilateral trading system, as embodied in the World Trade Organisation, that promotes a predictable trade environment and the centrality of the WTO.
The decleration has called for definite stand on corruption and extradition of economic offenders and fugitives and their asset recovery. Declaration also called for fighting international terrorism and early implementation of the Comprehensive Convention on International Terrorism.
Earlier, Prime Minister Narendra Modi addressed the 10th BRICS summit. He said that the fourth industrial revolution presents both opportunities and challenges for the BRICS nations.
He said there is need to be vigilant about the adverse impact of the disruptive technologies on the economies of the developing nations. Mr Modi said that there is need to focus on skill development and vocational training to reap the benefits of 4th industrial revolution.
In his concluding remarks, the Prime Minister said that there is a need to share best practices and policies among BRICS countries.
The Prime Minister also had bilateral meetings on the sidelines of the Summit with the leaders of China, South Africa, Argentina and Angola.
Our correspondent reports that it was Mr Modi’s third meeting with Chinese President Xi Zinping in last 3 months .
On the final day of the summit today, the BRICS leaders will take part in the BRICS Outreach session to take stock of the progress made by them during last ten years.