Under the theme "BRICS and Africa: Partnership for Mutually Accelerated Growth, Sustainable Development, and Inclusive Multilateralism," the 15th Summit of the BRICS group began in this city on Tuesday.
Johannesburg, South Africa.- With the participation of leaders from Brazil, Russia, India, China, and South Africa (BRICS), experts interviewed by Prensa Latina stated that the Summit could initiate a new economic and, to some extent, geopolitical restructuring of the world.
They anticipate that it could define the guidelines that a large part of world trade will follow in the coming decades under a completely different political sign, just as the Bretton Woods Conference, which established the US dollar as the world’s reference currency, did in 1944.
In June, the foreign ministers of the bloc’s five member countries stressed the importance of promoting local currencies in international trade and financial transactions among BRICS members and with their trading partners.
The Summit occurs amid a de-dollarization process in international trade, which may now coincide with the foreseeable expansion of BRICS membership.
However, South Africa’s Minister of International Relations and Cooperation, Naledi Pandor, clarified that the fact that the BRICS bloc advocates for greater use of local currencies in its trade transactions does not mean it is seeking to replace the US dollar in that role.
After protocol activities and a closed-door retreat this Tuesday afternoon, BRICS leaders expect to deliver speeches on August 23, while the BRICS Plus Dialogue and the BRICS-Africa Outreach, events involving nations from the so-called Global South and the African continent, will take place on August 24. Pandor recalled that Brazil, Russia, India, China, and South Africa account for about 42 percent of the world’s population, nearly 30 percent of its territory, and about 27 percent of the global Gross Domestic Product (GDP).
Ahead of the Summit, President Cyril Ramaphosa said, without naming nations, that more than 20 countries have formally requested to join the BRICS bloc while “several others” have expressed interest in joining.
SERBIAN LEADER SEES BRICS AS AN ALTERNATIVE TO THE WEST
Belgrade.- The expansion of the BRICS will be a historic moment, and the bloc will enhance its status to that of a global player that seeks to become an alternative to the collective West, the President of Serbia, Alexandar Vucic, said.
“The summit with the participation of leaders or senior officials from Brazil, Russia, India, China, and South Africa begins today, and I think it will be a historic step for them if their members decide to expand the body,” the Serbian leader was quoted as saying by the local television. In his opinion, the global geopolitical game is becoming “more and more interesting”.
The BRICS group meeting will take place from August 22nd to 24th in Johannesburg, South Africa, which is chairing the bloc this year.
According to South African sources, some 30 states are interested in joining the bloc, with some of them already having submitted official requests, including, but not limited to, Algeria, Bangladesh, Egypt, and Ethiopia.
According to sources from the Indian Business Standard newspaper, Argentina, Egypt, Indonesia, the United Arab Emirates, and Saudi Arabia may be admitted to the BRICS summit.
The presidency of the association will pass to the Russian Federation in 2024. (PL)
