Why in News?
At the BRICS virtual summit (September 2025), External Affairs Minister S. Jaishankar criticized the linking of trade measures to non-trade issues, emphasizing the need for fair, transparent, and predictable trade and investment environments, amid US tariff actions on India.
Description:
Expansion & Participation:
- New Members: Indonesia joined as a BRICS member.
- Partner Countries: Belarus, Bolivia, Kazakhstan, Cuba, Nigeria, Malaysia, Thailand, Vietnam, Uganda, Uzbekistan.
Health Cooperation:
- Partnership for Elimination of Socially Determined Diseases (SDDs) launched.
- SDDs are linked to poverty, inequality, and poor living conditions.
Climate Finance:
- BRICS Framework Declaration on Climate Finance aims to mobilize resources for climate action.
- Developed countries are urged to provide USD 300 billion annually by 2035 to developing nations.
- Tropical Forest Forever Fund (TFFF): Innovative financing for forest conservation (~USD 4 billion/year).
Digital & AI Governance:
- Declaration on Global Governance of AI emphasizes:
- Digital sovereignty
- UN-based multilateralism
- Responsible, ethical, and resource-efficient AI
- Fair competition and equitable data governance
Global Governance & Multilateralism:
- Calls for UN reforms, including Security Council expansion.
- Supports Brazil and India’s greater role in global decision-making.
- Emphasizes multipolarity and the role of the Global South.
Trade & Economic Cooperation:
- Concerns raised over unilateral tariffs and non-tariff barriers.
- Reiterates support for WTO-led, rules-based, fair, inclusive trade system.
- Launch of BRICS Multilateral Guarantees (BMG) pilot under the New Development Bank to de-risk investments.
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