The BRICS New Delhi Declaration has reaffirmed support for WTO reform, supply chain resilience and greater access to trade finance for MSMEs across member and partner economies.
The BRICS New Delhi Declaration, titled “Building for Resilience, Innovation, Cooperation and Sustainability,” has reaffirmed member countries’ unwavering support for reform of the World Trade Organization and the strengthening of a non-discriminatory, open, equitable and rules-based multilateral trading system with the WTO at its core. The declaration called for the immediate restoration of a fully functioning, two-tier binding WTO dispute settlement mechanism and the appointment of new Appellate Body members without further delay. It also expressed strong support for Ethiopia and Iran’s bids for accession to the WTO and voiced serious concern over the rise of unilateral tariff and non-tariff measures that distort trade and are inconsistent with WTO rules, condemning unilateral coercive measures including economic sanctions and secondary sanctions as contrary to international law.
On supply chains, the declaration reaffirmed the importance of ensuring that global value chains are resilient, efficient, transparent and inclusive, welcoming efforts towards digitisation and encouraging technical cooperation on trade facilitation, capacity building and enhanced connectivity. It welcomed the BRICS Guiding Principles for Credit Assessment Frameworks for export-oriented MSMEs, acknowledging that access to affordable finance remains a primary bottleneck limiting MSMEs’ participation in trade and integration into global value chains, and called for innovative financing mechanisms including digital and platform-based solutions to expand access to trade finance for underserved MSMEs. The declaration also supported the further development of the BRICS Global Value Chain Action Plan 2026-2030 and called for discussions on facilitating intra-BRICS trade of agricultural products through resilient and non-discriminatory supply chains.
