May 14, 2021
2 mins read

BRICS nations discuss social security pact

According to a press release issued by the Ministry of Labour and Employment on Thursday, representatives of International Labour Organization (ILO) and International Social Security Agency (ISSA) expressed willingness to provide technical support in facilitating conclusion of a Social Security Agreement (SSA)…reports Asian Lite News Desk.

BRICS member nations have resolved to enter into dialogue and discussion with each other to finalize a Social Security Agreement for the labour sector.

Participating in the 1st BRICS Employment Working Group (EWG) held earlier this week, the members – Brazil, Russia, India, China and South Africa – also discussed formalization of labour markets and participation of women in the labour force.

According to a press release issued by the Ministry of Labour and Employment on Thursday, representatives of International Labour Organization (ILO) and International Social Security Agency (ISSA)
expressed willingness to provide technical support in facilitating conclusion of a Social Security Agreement (SSA).

Member Nations also converged on devising multilateral framework for the same on a later stage.

“Social Security Agreement would help the international workers to port their benefit to their home countries thereby preventing loss of their hard earned money. Further, they will be exempted from contributing both in home as well as host countries,” the official release said.

At the same time, the member countries resolved to promote participation of women in remunerative, productive and decent work and to extend social security cover to the women workers engaged in informal sector.

The impact of the Covid-19 pandemic on the participation of women in labour force was also discussed.

Focusing on the formalization of the labour market, member nations discussed various initiatives taken by them towards formalization of jobs and how Covid-19 has enhanced informalization risk.

The two-day meeting, held in a virtual format on Tuesday and Wednesday, also discussed the role of gig and platform workers in the labour market.

Osaka – Japão, 28/06/2019) Presidente da República, Jair Bolsonaro, durante foto de família dos Líderes dos BRICS. Foto: Alan Santos / PR

The member nations noted how the proliferation of Digital Labour Platforms was transforming the labour processes in the world of work.

“Challenges faced by them and various measures being taken by member nations including extension of social protection system were also discussed,” the ministry release said.

Apart from representatives of member nations Brazil, Russia, India, China and South Africa, the representatives of International Labour Organization (ILO) and International Social Security Agency (ISSA) also made valuable interventions and suggestions on the agenda issues. (INN)

ALSO READ-Putin Praises BRICS For Int’l Coordination

READ MORE-India calls for tariff reform among BRICS

Previous Story

Devi Shetty to head Karnataka task force

Next Story

Aid continues to pour in from East Asia, Europe

Latest from -Top News

Trump tariffs send world markets into panic

US benchmark crude oil shed $2.70 to $64.25 a barrel after major oil producers announced they plan to increase production. Brent crude, the international standard, was down $2.63 at $67.51 a barrel

EU prepares retaliation for Trump’s tariffs

The European Commission is assembling a fresh round of counter-tariffs aimed at US goods, adding to two existing lists of potential targets—one of which includes products that were hit by suspended tariffs

US, EU slam China’s war games near Taiwan

US President Donald Trump underscored the need to maintain peace in the Taiwan Strait, advocating for a diplomatic approach to cross-strait tensions while warning against the use of force The United States

£13.9 billion of R&D fund to boost innovation, jobs

Funding outlined to support transformational R&D in areas like life sciences, green energy, engineering and beyond More UK innovators like those developing treatment-transforming dementia tests or building world-leading testing facilities to power

OPEC+ accelerates oil output hikes

Despite the production boost, the group emphasised that future adjustments remain flexible and could be paused or reversed depending on market conditions. Eight OPEC+ nations have unexpectedly decided to accelerate their oil
Go toTop

Don't Miss

Sitharaman to present Union Budget on July 23

The government on Saturday announced the dates of the budget

‘India Can’t Afford Another Inflation Surge’

The global economy, despite its uneven growth, remains resilient, with