BRICS Nations Call For ‘Open’ Global Trade, Decry ‘Protectionism’

The five BRICS nations have reaffirmed their support for an "open world economy" based on the principles of the World Trade Organization (WTO), as the countries' leaders look to avoid a looming global trade war. The formal communique signed on July 26 at the 10th BRICS summit in the South African city of Johannesburg declared that "we recognize that the multilateral trading system is facing unprecedented challenges." “We underscore the importance of an open world economy," the document signed by the leaders of Brazil, Russia, India, China, and South Africa stated. "We call on all WTO members to abide by WTO rules," it said.................

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