BRICS to form WTO consultation mechanism for fairer trade rules

BRICS member countries will establish a consultation mechanism on World Trade Organisation (WTO) issues to create fairer global economic rules, Russian President Vladimir Putin announced at the BRICS summit on Wednesday.

This initiative aims to develop a unified stance on reforming the international financial system and enhancing supply chain sustainability, countering protectionism, and promoting e-commerce.

Putin highlighted that BRICS has agreed on several key initiatives over the past year, emphasising the importance of special economic zones in fostering economic cooperation.

The new consultation mechanism is expected to strengthen BRICS’ influence in shaping global trade policies.