New Delhi/Cape Town, June 1 (UNI) Amid the backdrop of several countries seeking to join the bloc, EAM S Jaishankar on Thursday said the level of interest in BRICS is testimony of its growing influence, and urged that the grouping must send out a “strong message that the world is multipolar, and it is rebalancing, and that old ways cannot address new situations”.
In his opening remarks at the BRICS – Brazil, Russia, India, China, South Africa – Foreign Ministers’ Meeting in Cape Town, EAM said:
“The global environment today, demands that we, the BRICS nations, approach key contemporary issues seriously, constructively and collectively. Our gathering must send out a strong message that the world is multipolar, that it is rebalancing, and that old ways cannot address new situations. We are a symbol of change and must act accordingly.”
He said that the devastating after-effects of the Covid pandemic, the stresses arising from the Ukraine conflict, and the economic distress of the Global South puts greater responsibility on the grouping.
The current crises “underline the deep shortcomings of the current international architecture which does not reflect today’s politics, economics, demographics or indeed aspirations”.
Referring to the demand from India and other countries for reform of the UN, he said that BRICS Members must demonstrate sincerity in regard to reforming global decision making, including that of the UN Security Council.
Referring obliquely to China, he said “At the heart of the problems we face, is economic concentration that leaves too many nations at the mercy of too few. This may be in regard to production, resources, services or connectivity” – in reference to the supply chains from China being affected during the lockdown period due to Covid.
Referring to the Voice of the Global South conference held by India in January, EAM said “We urge that BRICS give it particular consideration and promote the economic decentralization that is so essential to political democratization.”
Mentioning terrorism, he said “All nations must take resolute measures against this menace, including its financing and propaganda. It must be combated in all its forms and manifestations and never be condoned under any circumstances.”
On Millets, he said the UN has declared 2023 as the International Year of Millets, and said millets needs to be encouraged, as well as the Lifestyle for Environment (LiFE) initiative, tabled by India, as an important step towards sustainability.
“..The level of interest in this grouping is a matter of satisfaction and a testimony of our growing influence. For that very reason, decisions we take have far reaching consequences. They will also enhance our mutually beneficial cooperation in the times to come,” EAM said.
The BRICS countries represent 43% of the world’s population, 16% of the world’s trade, and a larger share of the world’s GDP than the G7.
Several countries have applied to join BRICS or expressed interest in doing so, including Venezuela, Argentina, Iran, Algeria, Saudi Arabia and the United Arab Emirates.
Asked about the BRICS' potential expansion at a routine press conference on Thursday, Mao Ning, spokesperson for the Chinese Foreign Ministry, said that "China has always maintained that BRICS is an open and inclusive mechanism. We support the expansion of BRICS and welcome more like-minded partners to join the BRICS family at an early date."
The BRICS New Development Bank (NDB), also known as the "BRICS bank," has been expanding steadily, with Bangladesh, the United Arab Emirates, Egypt and Uruguay having joined. Saudi Arabia is also reportedly in talks to join the NDB.
Another major factor is the rising trend of de-dollarization and the talk of BRICS coming out with its own currency.
UNI RN