Since G20 in Rio, the defense of multilateralism has become urgent, says Haddad

Finance Minister Fernando Haddad defended multilateralism and globalization based on social development in his opening speech at the BRICS Ministerial Finance Meeting, which coordinates alongside Central Bank President Gabriel Galipolo.

“No country in isolation, however powerful, can give an effective response to global warming, or meet the legitimate aspirations of most humanity for a dignified life,” Haddad said. “The perspective of creating exclusionary islands of prosperity in the midst of contemporary polycrysis is morally unacceptable.”

Haddad’s speech was passed by the Farm Press Office, as the event was not broadcast. The presentation of Galipolo has not been made available so far.

The statements came to an apparent criticism of the United States, which have been established tariffs against products imported from other countries since the beginning of this year, after the victory of Republican Donald Trump in the presidential elections. Trump’s policy is often called “America First.”

Haddad pointed out that multilateralism was an important agenda at the G20 meeting in Rio in January last year -when the global alliance against hunger and poverty and the defense of progressive taxation of super rich was launched -but now it has become “urgent”. He also defended the importance of promoting a “21st century multilateralism.”

“This new multilateralism is nothing more than ‘sustainable reglobalization’, a new bet on globalization, this time based on the sustainable, economic and environmental development of humanity as a whole,” said the head of the farm.

According to Haddad, the BRICS has legitimacy to defend this new form of globalization, by the desire of its member countries to gain weight in the international financial system. “Together, we represent almost half of humanity, and we are at the forefront of industries that will determine the direction of human development. Brics are the face of the future,” he said.