BRICS leaders eye new world positioning
Cape Town, South Africa (PANA) – Leaders of the BRICS (Brazil, Russia, India, China, South Africa) have reaffirmed their commitment to boosting the bloc to ensure they exert a combined influence on international affairs.
The BRICS Summit which is underway in Sandton, is being held under the theme “BRICS in Africa: Collaboration for Inclusive Growth and Shared Prosperity in the 4th Industrial Revolution”.
The three day summit is taking place amid rising tensions following Russia’s invasion of Ukraine, and fierce competition between the United States and China over trade and human rights issues.
South African President Cyril Ramaphosa, who chairs the summit, on Tuesday night said member nations need to reaffirm their position that economic growth must be underpinned by transparency and inclusiveness.
“It must be compatible with a multilateral trading system that supports a developmental agenda. We require a fundamental reform of the global financial institutions so that they can be more agile and responsive to the challenges facing developing economies," he said.
Ramaphosa said the summit is expected to be the most significant in the group's history and could impact Africa's relationship with other countries and its position globally.
“These factors all position Africa as the next frontier of productivity and growth. The BRICS countries have an opportunity to contribute and participate in Africa's growth story that can be achieved through greater cooperation in areas such as infrastructure, agriculture, manufacturing, new energy and the digital economy,” he said.
Chinese President Xi Jinping urged South Africa to join him in boosting the countries’ combined influence on international affairs in the Global South. “We support substantive progress in the G20 and support South Africa employing a greater role,” he said.
Xi has been pressing for additions to the five-nation group. Ramaphosa publicly gave his backing to the plan in a televised address to the nation on Sunday.
More than 20 nations have formally applied to join, including Argentina, Saudi Arabia, Indonesia and Egypt. The three day summit ends on Thursday.
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