As globalization continues to bring nations and regions closer together, the importance of partnerships and collaboration cannot be overemphasized. Among the significant partnerships that have emerged in recent years is BRICS, a group of five major emerging economies comprising Brazil, Russia, India, China, and South Africa. The BRICS-Africa Outreach and BRICS Plus Dialogue is a platform that seeks to foster cooperation between BRICS nations and African countries and the wider Global South.
Unity, Friendship, and Cooperation
Drawing inspiration from the historic Bandung Conference of 1955, which called for greater representation for developing nations in world affairs, the BRICS partnership aims to cultivate unity, friendship, and cooperation, with the ultimate goal of creating a fair and just world. The partnership envisions a world where barriers between North and South, East and West are non-existent, and collaboration is rooted in mutual respect. With the South African principle of Ubuntu as a guiding philosophy, the BRICS partnership recognizes that the success, prosperity, and well-being of each nation depend on those of others.
A Catalyst for Global Growth and Development
The BRICS partnership is committed to being a catalyst for global growth and development, addressing the needs of all nations. Africa and the Global South, in particular, are keen on fully benefiting from global trade and investment, which is critical to economic growth and the improvement of their people’s living conditions. African nations are eager to harness the continent’s vast resources to benefit and develop their economies.
AfCFTA and Development Financing
The African Continental Free Trade Area (AfCFTA) is a crucial step towards this goal, unlocking the benefits of the continental market and generating significant opportunities for African and other countries. To capitalize on these opportunities, Africa is looking to the BRICS partnership for support in infrastructure and development financing. This vision aligns with the founding principles of the New Development Bank, a financial institution established by the BRICS countries.
Promoting Fairness in Global Trading and Financial Systems
The New Development Bank is playing a leading role in strengthening the resilience of the Global South and striving for fairness in global trading and financial systems by strengthening the use of BRICS currencies. Reforms in global economic, financial, and political governance, including the multilateral trading system, are necessary to create a conducive environment for fair trade.
Renewed Impetus to Global Growth and Sustainable Development
While many countries in the Global South are witnessing progress in industrialization, technological development, innovation, and the digital economy, they have not yet fully realized the economic benefits. The BRICS partnership aims to give renewed impetus to global growth and sustainable development by working together, sharing skills and capabilities, and mobilizing resources.
Inclusion and Mutually Beneficial Economic Cooperation
The BRICS-Africa Outreach and BRICS Plus Dialogue aims to promote inclusion and mutually beneficial economic cooperation. As South African President Cyril Ramaphosa stated during his welcome remarks at the event, this dialogue is expected to provide leadership, vision, and hope as participants work together for a better Africa and a better world.
A Crucial Platform for Cooperation and Development
With the opportunities and challenges ahead, the BRICS-Africa Outreach and BRICS Plus Dialogue represents a crucial platform for fostering cooperation and development. By nurturing a spirit of unity, friendship, and cooperation, the BRICS partnership stands as a beacon of hope for a more prosperous and equitable global future.
