Rio de Janeiro, July 6 -- The Finance Ministers and Central Bank Governors (FMCBG) of the BRICS nations have voiced "serious concerns" about the unilateral imposition of tariffs and non-tariff measures, which they deem inconsistent with World Trade Organisation (WTO) rules.

In a joint statement following their first meeting under Brazil's chairmanship on Saturday, the group emphasised the resilience of the BRICS nations--Brazil, Russia, India, China, and South Africa--along with new members in the face of these challenges and pledged to safeguard a non-discriminatory, open, fair, inclusive, equitable, and rules-based multilateral trading system with the WTO at its core, underscoring a collective commitment to global economic stability. ...