Expansion of BRICS tops agenda

BEIJING. – The discussion on expanding BRICS, the grouping of Brazil, Russia, India, China and South Africa, is expected to be high on the agenda of an upcoming meeting of senior officials to prepare for the BRICS Summit in August, observers said.

They also said that since its inception in 2006 as BRIC (South Africa was added in 2010), the group of emerging economies has upheld the spirit of openness, inclusiveness and win-win cooperation, practiced true multilateralism and achieved solid results in pragmatic cooperation, thus becoming increasingly attractive to other countries.

Chin sent Wang Yi, director of the Office of the Foreign Affairs Commission of the Communist Party of China Central Committee, to attend this week’s 13th Meeting of BRICS National Security Advisers and High Representatives on National Security in Johannesburg.

South Africa is this year’s BRICS chair. According to Anil Sooklal, the country’s ambassador to the group, more than 40 countries, including all the major developing Global South countries, have expressed interest in becoming BRICS members, and 22 countries have formally asked to join.

South African President Cyril Ramaphosa has also invited the heads of all African countries to the upcoming BRICS Summit in Johannesburg to engage in dialogue with BRICS leaders.

“With the joining of more developing countries, BRICS is expected to better represent the Global South with a louder voice on the world stage,” said Yao Jinxiang, an assistant researcher at the China Institute of International Studies.

While BRICS members account for 42 percent of the world’s population, they have less than 15 percent of voting rights in the World Bank and the International Monetary Fund.

“African countries and BRICS nations share similar views and interests in improving and reforming the current international order and global governance system. Africa as a whole can make a joint call with BRICS for accelerating reforms in financial, monetary and other sectors,” Yao said.

He Wenping, a senior researcher at the Chinese Academy of Social Sciences’ Institute of West-Asian and African Studies, said that to join or cooperate with BRICS will help Africa expand cooperation with more emerging economies and developing countries.

“For example, the BRICS New Development Bank can provide Africa with more opportunities in trade and economy, investment and financial assistance, among other things,” she said. – ChinaDaily.com