New Delhi: In a significant step forward, the BRICS grouping comprising of Brazil, Russia, India, China, and South Africa have backed the India-South Africa joint proposal for COVID vaccine patent wavier at the World Trade Organisation or WTO. The grouping decided to back the proposal at the BRICS Foreign ministers virtual meet that was held under the chairmanship of India. BRICS is one of the first global multilateral groupings to come in the support of the proposal. The BRICS also called for urgent reforms at global bodies such as the United Nations and in a first released 'BRICS Joint Ministerial Statement on Strengthening and Reforming of the Multilateral System’. The statement not only focuses on reforms at the UN but also International Monetary Fund (IMF), World Bank (WB), World Trade Organization (WTO), World Health Organization (WHO).

Source: dna June 01, 2021 15:45 UTC