India pledges to protect farmers' interests at BRICS
NEW DELHI, Aug. 8 -- Trade ministers of BRICS nations under India's chairship concluded their meeting in Jaipur on Friday, with New Delhi pledging to safeguard Indian farmers' interests, ensure food and livelihood security, and preserve special and differential treatment for developing nations in the multilateral trading system. The meeting concluded with a 20-page chair's statement and outcome document, explicitly noting that its "entire" text, including annexes, was agreed upon by all members, and that "the issue which could not reach consensus is not reflected" in the text. A chair's statement is typically issued when member states lack consensus on a joint declaration.
The document comprised four annexes covering the revitalization of the multilateral trading system, a work plan on the internationalisation of micro, small and medium enterprises (MSMEs), a work plan on BRICS shared understanding on global value chains (GVCs), and BRICS principles to facilitate digitally delivered services across borders. "The meeting gave a decisive push for small business entrepreneurs. Ministers issued the Jaipur Consensus to study a BRICS Invoice Discounting Mechanism and adopted the Guiding Principles for Credit Assessment Frameworks for Export-Oriented MSMEs, so that a firm is judged by its cash flow and not by its assets and collateral," a statement issued by India's commerce and industry ministry said.
Ministers also made progress toward finalising the strategy for the BRICS Economic Partnership 2030, spanning trade in services, the digital economy, industry, innovation, financial co-operation, and sustainable development....
To read the full article or to get the complete feed from this publication, please
Contact Us.