The leaders of the five-member BRICS group — Brazil, Russia, India, China, and South Africa — began a three-day summit in Johannesburg on Tuesday to discuss expanding the club, which aspires to be a geopolitical alternative to Western-led forums like the Group of 7.
What is the Main Objective of BRICS
Cooperation, development, and global influence are central to the BRICS goals. Among the main BRICS objectives are the following:
Economic Cooperation
Encouraging trade, cooperation and growth among members, as well as improving BRICS economies’ access to markets.
Development Financing
Establishing institutions like the CRA and the NDB to finance infrastructure and development projects in member countries.
Political Coordination
Strengthening political discourse and coordination on international issues, such as changing global governance institutions to account for the changing global economic landscape and to give emerging economies a stronger voice and representation.
Social and Cultural Exchanges
Promoting interpersonal relationships and mutual respect for one another’s cultures, while also increasing social and cultural exchanges among member countries.
Peace and Security
Promoting local and international peace, stability, and security while addressing shared security issues and risks such as terrorism.
South–South Cooperation
Increasing cooperation and collaboration among developing countries, sharing best practices, and supporting initiatives that contribute to the Global South’s overall development.
What is the Key Issue Being Discussed At The BRICS Conference
The leaders are expected to discuss BRICS expansion by adding new members, including admission criteria and guiding principles, which is likely to be the most important and contentious issue.
However, disagreements among BRICS members over criteria for admitting new members may prevent any major announcements from being made at the summit, as the bloc operates by consensus.
The main driver of expansion is China, which is seeking to bolster its geopolitical might at a time of tension with the United States. Russia is also embracing it as a means of overcoming isolation as a result of the Ukraine war, and India is warming to the idea. Brazil is the most opposed to enlargement.
South Africa, the smallest country in terms of economic clout and population, was the first to benefit from the bloc’s expansion ambitions when it officially attended the first BRIC members summit in 2011.
The BRICS group represents more than 40% of the global population and approximately 26% of the global economy, and it provides an alternative forum for countries outside of diplomatic channels that are perceived to be dominated by traditional Western powers. More nations are eager to join due to its influence and economic clout.
Which Countries Have Indicated Interest to Join BRICS
over 40 countries have indicated interest to join BRICS group of nations. These countries include Iran, Saudi Arabia, United Arab Emirates, Argentina, Algeria, Bolivia, Indonesia, Egypt, Ethiopia, Cuba, Democratic Republic of Congo, Comoros, Gabon, and Kazakhstan
Why Did It Attract So Much Interest in 2023
The Interested countries see BRICS as a viable alternative to global organizations dominated by traditional Western powers, and they hope that membership will unlock benefits such as development finance and increased trade and investment.
Follow the Summit Live here:
Check These Out
- Ousmane Dembele Inherits Neymar’s Shirt Number at PSG
- Tiktok Star Caleb Coffee Has Fractured His Spine After Falling Off a Cliff
