Russia, India and China could voice together in favor of reforming the International Monetary Fund (IMF) and preserving the World Trade Organization (WTO)’s universal role of a fundamental trade structure.
Russian President Vladimir Putin said this on Friday at his meeting with Chinese President Xi Jinping and Indian Prime Minister Narendra Modi, held on the sidelines of the G20 summit in Osaka.
Russia, China and India coordinate their approaches to the activities of key international bodies, including the United Nations, the BRICS nations comprising Brazil, Russia, India, China, and South Africa, the Shanghai Cooperation Organisation, and G20, Putin stressed
“As I see it, our countries could voice together in favour of strengthening the prestige of the WTO and preserving its role of a universal structure regulating international trade … Supporting effort to reform the IMF is another important task,” Putin said.
News Agency of Nigeria (NAN) reports that the BRICS nations at the Xiamen Summit in China in 2017 resolved to strengthen multilateral trading system and called upon member countries of the World Trade Organisation to abide by the rules, amid ongoing trade disputes between major economies.
India, China, Brazil, Russia and South Africa also re-affirmed the centrality of the “rules-based, transparent, non-discriminatory, open and inclusive multilateral trading system”.
