BRICS Expansion Gains Support, But Doubts Persist

South African President Cyril Ramaphosa expressed support for an expansion of the BRICS group of emerging market powers, but India wants the process to be gradual

South African police officers walk in front of an event banner outside the venue for the BRICS summit at the Sandton Convention Center in the Sandton district of Johannesburg, South Africa, on Monday, Aug. 21, 2023. The summit of BRICS leaders is scheduled to take place from Aug. 22-24 in Johannesburg, where they will discuss whether to admit more nations to its ranks.
By S'thembile Cele - Monique Vanek
August 22, 2023 | 04:00 AM

Bloomberg — South African President Cyril Ramaphosa expressed support for an expansion of the BRICS group of emerging market powers, which will gather for its annual summit in Johannesburg this week.

“An expanded BRICS will represent a diverse group of nations which share a common desire to have a more balanced world order,” Ramaphosa said in a televised address to the nation on Sunday.

This week’s summit will be attended by United Nations Secretary-General Antonio Guterres and more than 30 African heads of state, as well as others from the Global South.

The leaders of BRICS — Brazil, Russia, India, China and South Africa — are due to hold three days of talks starting August 22, with a possible expansion high on the agenda.

PUBLICIDAD

More than 20 nations have formally applied to join, Ramaphosa said.

Chinese President Xi Jinping, in an op-ed published in several South African media outlets on Monday, said his country and South Africa, as “natural members” of the Global South, should push for developing countries to have more sway in international affairs.

India, however, wants the process to be gradual, and is concerned the group would become a mouthpiece for China — with which the country is opposed on a number of major issues.

PUBLICIDAD

“We will urge the international community to refocus on development issues, promote a greater role by the BRICS cooperation mechanism in global governance, and make the voice of BRICS stronger,” Xi said.

Formed officially in 2009-10, BRICS has struggled to have the kind of geopolitical influence that matches its collective economic reach. The bloc’s current members represent more than 42% of the world’s population and account for 23% of global gross domestic product and 18% of trade.

Ramaphosa reiterated that South Africa’s foreign policy will be driven by its national interest and that it favors a negotiated settlement to Russia’s invasion of Ukraine and other conflicts.

“While some of our detractors prefer overt support for their political and ideological choices, we will not be drawn into a contest between global powers,” he said. “Our country strives to work with all countries for global peace and development.”

PUBLICIDAD

Other speech highlights:

  • The BRICS summit will be preceded by a state visit to South Africa by Chinese Premier Xi Jinping, during which several agreements will be signed.
  • South Africa wants to build a partnership between BRICS and Africa to to bolster trade and investment.
  • A European Union-South Africa summit will be held in South Africa later this year.
  • South Africa will assume the presidency of the Group of 20 nations in 2025.
  • South Africa has invited more than 30 African trade ministers and senior US administration and congressional representatives to the the African Growth and Opportunity Act forum scheduled for November
VIEW +
M&A Activity In Latin America Seen Picking Up In Second Half

Read more at Bloomberg.com