The BRICS group of five major emerging economies on Monday pledged to fight terrorism and corruption while expressing concern about protectionism.
The member countries -- Brazil, Russia, India, China, and South Africa -- released a joint declaration following the BRICS summit’s plenary session in the southeastern Chinese port city of Xiamen emphasizing “fairness and justice to safeguard international and regional peace and stability”.
The declaration vowed to “promote exchanges of good practices and experiences on development, and facilitate market inter-linkages as well as infrastructure and financial integration to achieve interconnected development.”
“We will enhance communication and coordination in improving global economic governance to foster a more just and equitable international economic order,” it said.
Stressing corruption’s negative impact on sustainable development, it said the illegal flow of the proceeds of corruption “impairs impaired economic development and financial stability.”
“We support the strengthening of international cooperation against corruption,” it added.
- Modern tax system
The 43-page joint declaration said the member states will work to promote a more equitable, pro-growth, and efficient international tax system.
“We reaffirm our commitment to achieving a fair and modern global tax system and promoting a more equitable, pro-growth, and efficient international tax environment, including deepening cooperation on addressing Base Erosion and Profit Shifting (BEPS), promoting exchange of tax information, and improving capacity-building in developing countries.”
- Inclusive world economy
The BRICS member states also highlighted “the importance of an open and resilient financial system to sustainable growth and development.
“We emphasize and agree to better leverage the benefits of capital flows and manage the risks stemming from excessive cross-border capital flows and fluctuation.”
They also stressed the importance of an open and inclusive world economy that enables all countries and peoples to share in the benefits of globalization.
“We remain firmly committed to a rules-based, transparent, non-discriminatory, open and inclusive multilateral trading system as embodied in the WTO” or World Trade Organization, said the declaration.
- Latest North Korean nuclear test
The BRICS also condemned the latest nuclear test by North Korea, saying: “We express deep concern over the ongoing tension and prolonged nuclear issue on the Korean Peninsula, and emphasize that it should only be settled through peaceful means and direct dialogue of all the parties concerned.”
The group reiterated its commitment to safeguarding world peace and security and upholding the basic norms of international law, and the purposes and principles of the UN Charter, including sovereign equality and non-interference in other countries’ internal affairs.
They expressed solidarity and resolve in the fight against terrorism, adding that “those responsible for committing, organizing, or supporting terrorist acts must be held accountable.”
The BRICS members called on all nations to “adopt a comprehensive approach in combating terrorism, which should include countering radicalization, recruitment, and movement of terrorists.”
It said the fight against terrorism “must be conducted in accordance with international law, including the Charter of the United Nations, international refugee and humanitarian law, human rights, and fundamental freedoms”.
By Sorwar Alam