MOSCOW: In a move aimed at reshaping the global economic landscape, Russian President Vladimir Putin announced the launch of a BRICS consultation mechanism focused on World Trade Organization (WTO) issues. This initiative, unveiled at an expanded session of the BRICS summit, seeks to establish fairer rules in the international economy.

According to Azeri-Press news agency, Putin emphasized that this new mechanism would enable BRICS countries to develop a united stance on reforming the global financial system and enhancing economic cooperation. The Russian leader outlined several focus areas for the initiative, including strengthening supply chain resilience, countering protectionism, advancing e-commerce, and fostering connections through special economic zones.

Over the past year, BRICS nations have successfully collaborated on numerous initiatives across various sectors, Putin noted, highlighting the group’s commitment to addressing critical economic challenges on the world stage.