Categories: News

President Cyril Ramaphosa Announces Outcomes of the XV BRICS Summit

President Cyril Ramaphosa has announced the outcomes of the XV BRICS Summit, which took place in Johannesburg, South Africa. The summit celebrated the partnership between Brazil, Russia, India, China, and South Africa, marking a significant milestone in their relationship. This was the first in-person gathering of the five leaders since the COVID-19 pandemic began.

Comprehensive Business Program

The summit featured a comprehensive business program aimed at promoting investment, collaboration, and opportunities within South Africa, Africa, and BRICS nations. Dilma Rousseff was appointed as the President of the New Development Bank, and she presented a clear vision for the bank’s role in infrastructure and sustainable development across Africa and the Global South.

Celebrating Achievements

The BRICS Summit also celebrated the 10th anniversary of the Business Council and welcomed its self-review and subsequent recommendations. The Women’s Business Alliance’s in-person meeting with leaders was also acknowledged, along with the participation of youth representatives.

Addressing Shared Global Challenges

The participants highlighted the importance of BRICS’ economic partnership in delivering practical benefits for their communities and addressing shared global challenges. They also reiterated their commitment to inclusive multilateralism and international law, as stated in the United Nations Charter.

Global Conflicts and Inequality

The summit expressed concerns about ongoing global conflicts and called for peaceful resolutions through dialogue and inclusive consultation. The leaders agreed that an unbalanced recovery from the COVID-19 pandemic is exacerbating inequality worldwide and urged financial institutions and international organizations to build a global consensus on economic policies.

Exploring Opportunities

BRICS leaders acknowledged the increasing importance of local currencies, alternative financial arrangements, and payment systems. They agreed to explore opportunities to improve stability, reliability, and fairness in the global financial architecture.

People-to-People Exchanges

The importance of people-to-people exchanges was emphasized, with progress made in media, culture, education, sports, arts, youth, civil society, and academic interactions.

Johannesburg II Declaration

The Johannesburg II Declaration was adopted, reflecting BRICS’ stance on global economic, financial, and political matters. The declaration showcases the shared values and common interests that drive the mutually beneficial cooperation between the member countries.

Guiding Principles

BRICS is a diverse group of nations with differing views but a shared vision for a better world. The leaders reached an agreement on the guiding principles, standards, criteria, and procedures for BRICS expansion. The first phase of expansion will include inviting Argentina, Egypt, Ethiopia, Iran, Saudi Arabia, and the United Arab Emirates as full members, effective from January 2024.

Partner-Country Model

The BRICS partner-country model was discussed, and foreign ministers were tasked to develop a list of potential partner countries to be reported at the next summit. Leaders from Africa and the Global South were also invited to engage in the BRICS-Africa Outreach and BRICS Plus Dialogue, promoting an inclusive discussion on issues affecting developing economies and identifying collective actions for a more equitable, inclusive, and representative world.

In conclusion, President Ramaphosa expressed gratitude to the leaders of Brazil, Russia, India, and China for their participation in the successful 15th BRICS Summit held in Johannesburg, South Africa. The summit marked a new chapter in the alliance’s efforts to create a fair, just, inclusive, and prosperous world.

Serjio Zakharoff

A Russian-Spanish journalist and Cape Town native, channels his lifelong passion for South Africa into captivating stories for his local blog. With a diverse background and 50 years of rich experiences, Serjio's unique voice resonates with readers seeking to explore Cape Town's vibrant culture. His love for the city shines through in every piece, making Serjio the go-to source for the latest in South African adventures.

Recent Posts

Battling Streetlight Vandalism in Kraaifontein: A Community’s Struggle and Hope

In Kraaifontein, a lively part of Cape Town, the community faces a tough battle against…

22 hours ago

The Good Hope Centre: A Legacy in Transformation

The Good Hope Centre in Cape Town is getting a fresh start! Plans are underway…

3 days ago

Discover the My Cape Town Market: A Celebration of Culture and Commerce

The My Cape Town Market is a lively summer event in the beautiful Company's Garden,…

3 days ago

Boatica Cape Town: A Celebration of Marine Innovation

Boatica Cape Town is Africa's biggest boating show, taking place from October 2527, 2024, at…

3 days ago

Navigating the Crime Landscape: South African Police Service’s Dynamic Approach

The South African Police Service (SAPS) is taking strong steps to fight crime and keep…

3 days ago

Unveiling Alexkor SOC Ltd: A Pillar of South Africa’s Mineral Legacy

Alexkor SOC Ltd is a stateowned company in South Africa that started in 1992, focusing…

3 days ago