BRICS trade union leaders recommend to establish BRICS rating agency and stock exchange

UFA, July 9. /TASS/. The BRICS trade union summit has recommended the member states’ governments to establish a BRICS own rating agency and a stock exchange. "Trade unions recommend the governments of the BRICS countries to set up a BRICS own rating agency and a stock exchange. It will furnish them with tools of influencing the global economy," the trade union leaders said in a declaration on Thursday. Participants in the trade union forum agreed revenues must be used to bolster investments in the real production sector, infrastructure projects, education, healthcare, science and technology, professional training and professional enhancement. "Investments should be used to create worthy jobs and ensure higher wages," the declaration said. The BRICS trade union leaders pointed to a threat of a ‘neoliberal globalization’ spread. "The expanding neoliberal globalization leads to the reduction of jobs and destruction of the Earth’s ecosystem," they said. Thus, according to the declaration, in 2014 one percent of the global population possessed 48 percent of the global wealth. By 2016, this "golden percent" will possess more than a half. The declaration said that BRICS working people considered the association as a new, fairer model of global relations that is to be built over the traditional watersheds East-West and North-South. The declaration said that BRICS strengthening was playing a key role in the democratization of international ties, without violating sovereignty and the nations’ right to self-determination. The leaders however expressed concern over encroachment upon fundamental rights of trade unions, such as collective bargaining and the right to strike. Read more