At the 15th BRICS Summit held in South Africa, President Cyril Ramaphosa welcomed the leaders of Brazil, Russia, India, China, and South Africa. He acknowledged the significant impact the bloc has had on global growth, trade, and investment. Ramaphosa emphasized the importance of solidarity, progress, inclusivity, and sustainable development. He asserted that the BRICS partnership aims to leverage the diverse histories, cultures, and systems of its member nations to promote shared prosperity.
Leveraging Partnership for Inclusive Economic Recovery
BRICS leaders are determined to leverage their partnership to drive an inclusive economic recovery. As South Africa takes the chairship of BRICS, advancing the African agenda becomes a strategic priority. The summit theme, “BRICS and Africa: Partnership for Mutually Accelerated Growth, Sustainable Development and Inclusive Multilateralism,” reflects the summit’s goals.
Partnership for Mutual Trade and Investment
In a spirit of partnership and mutual respect, BRICS countries continue to engage with Africa to boost reciprocal trade and investment. The African Continental Free Trade Area (AfCFTA), once fully operational, is expected to unlock the benefits of the continental market, creating mutually advantageous opportunities for both African and BRICS countries.
Commitment to Climate Change and Global Stability
BRICS nations are committed to ensuring a fair and just transition to a low-carbon, climate-resilient future, taking into account the differing national circumstances. These nations must champion the interests of the Global South and urge industrialized countries to support climate actions by developing economy countries. Peace and stability remain essential prerequisites for a better, more equitable world. South Africa advocates for diplomacy, dialogue, negotiation, and adherence to the United Nations Charter as pivotal tools to resolve disputes peacefully and justly.
Practical Measures for Trade and Investment
To facilitate trade and investment flows, BRICS nations are exploring practical measures to increase the use of local currencies. As the world changes, new economic, political, social, and technological realities necessitate greater cooperation among nations. Likewise, fundamental reform of global governance institutions is necessary to better represent and respond to the challenges facing humanity.
Advancing the Interests of the Global South
BRICS nations are firmly committed to advancing the interests of the Global South. However, they stand ready to collaborate with all countries aspiring to create a more inclusive international order. The 15th BRICS Summit inspires confidence in advancing the cause of common prosperity and progress and marks a significant step towards the realization of a more humane global community.
