BRICS seeks a stronger financial safety net

The declaration called for fair supply chains, benefit sharing and value addition in resource-rich countries while preserving sovereignty over mineral resources.

Leaders welcomed principles for assessing export-oriented MSME credit and a Jaipur agreement to study invoice discounting for working capital. The financing mechanism was a study, not a live...

Leaders recognized task-force work on interoperability and local-currency settlements, inviting further discussion of accessible low-cost payment options; no single BRICS currency was launched.

The declaration noted voluntary discussions of an Insurance Resilience Centre and an Indian proposal for a Risk Lab, without saying either was operational.

Leaders noted progress on a proposed New Investment Platform and discussions about a study group, using a phased, consensus-based and member-driven approach.

Leaders backed work on a UN tax convention and welcomed working groups on transfer pricing and revenue statistics and networks for tax knowledge sharing.

The declaration welcomed a BRICS–NDB portal to share development experiences, policy lessons and projects across chairships.

Leaders urged the NDB to diversify funding sources and expand local-currency finance for infrastructure, sustainability and development priorities.

The declaration called for the return of heritage and objects of spiritual, ancestral, historical and cultural value to countries of origin, as well as cooperation among museums and archives.

Leaders welcomed common principles for landscape greening and wildfire preparedness while recognizing the conservation role of tropical forests and mangroves.