RIO DE JANEIRO: Chinese Foreign Minister Wang Yi on Monday stressed the importance of unity and collaboration among BRICS countries and outlined four suggestions to enhance global governance systems to reflect the collective interests of the Global South.
Addressing the BRICS Foreign Ministers’ Meeting in Brazil’s Rio de Janeiro, Wang called on BRICS countries to uphold multilateral trade rules. He voiced opposition to all forms of protectionism and stressed the importance of maintaining a rule-based multilateral trading system centered around the World Trade Organization (WTO).
He urged BRICS countries to actively participate in WTO reform, uphold its core values and principles, and push for the restoration of the dispute settlement mechanism. He also emphasized the need for continued practical cooperation in trade, facilitating trade liberalization and ease of access.
Wang called on BRICS countries to strengthen global financial governance. He advocated for reforming the international financial architecture to better reflect changes in the global economic landscape and to support the growth of economies in the Global South. He called for a review of the World Bank shareholding and a reform of the International Monetary Fund (IMF) quotas to address the historical imbalance in representation and influence for the Global South.
Additionally, the foreign minister emphasized the importance of pursuing a green transformation. He called for the full and effective implementation of the Paris Agreement, urging developed countries to honor their commitments to climate action. At the same time, he highlighted the need for deeper cooperation among BRICS nations in low-carbon energy transition, noting that such efforts would contribute to higher-quality, more sustainable growth. He also voiced strong support for Brazil’s leadership in hosting the 30th Conference of the Parties to the UN Framework Convention on Climate Change (COP30), which he hopes will advance global climate governance toward greater justice and cooperation.
Lastly, Wang called for sharing digital opportunities. He emphasized the importance of advancing the UN’s Global Digital Compact to bridge the digital divide and create common rules for cyberspace. He advocated for improved global governance of artificial intelligence, promoting fairness, inclusivity, safety and collaborative management. He also welcomed BRICS countries’ participation in the upcoming 2025 World Artificial Intelligence Conference to be held in Shanghai in July.
