How to achieve high quality development after BRICS expansion? Dainik Savera Times


BRICS has expanded! On the morning of 24 August local time, the 15th BRICS Leaders’ Summit held a special press conference in Johannesburg, South Africa, announcing that Saudi Arabia, Egypt, the United Arab Emirates, Argentina, Iran and Ethiopia would Will be officially made a member of the BRICS family.

This is a historic expansion and one of the most important achievements of this BRICS summit, which reflects the determination of BRICS countries to unite and cooperate with developing countries. Relevant experts pointed out that these six new BRICS members have their own industrial advantages and are highly complementary in the economy, which will fully revive the cooperation potential of BRICS countries.

China has played an important leading role in the expansion of BRICS. At the 2017 Xiamen BRICS summit, China innovatively proposed the “BRICS+” cooperation model. At the 2022 Beijing BRICS Summit, the Chinese side clearly stated that the process of BRICS expansion should be promoted. Many emerging market and developing countries are very active, and more than 20 countries have applied to join.

Today, the BRICS expansion has taken a historic step, which not only confirms the attractiveness of the BRICS cooperation mechanism, but also reflects the expectations of emerging markets and developing countries for cooperation. At the Johannesburg summit, Chinese President Xi Jinping stressed that BRICS countries should deepen economic, trade and financial cooperation to promote economic development, and expand political and security cooperation to maintain peace .

Should strengthen cultural exchanges and promote mutual learning among civilizations, uphold fairness and justice, improve global governance. These four proposals will help BRICS countries strengthen cooperation, promote high-quality partnerships, and promote the development of global governance reform.

Forging a “high-quality partnership” by BRICS countries as representatives of emerging markets means that they have high-quality cooperation, which can meet the challenges of not only the weak pace of global economic recovery, but also the time and technological development. Can develop further according to the trend of In this summit, China stressed to promote exchanges in economic, trade and financial fields, especially focusing on practical cooperation in digital economy, green development, supply chain and other areas.

Political-security cooperation is another important aspect. “Supporting each other on issues related to each other’s core interests”, “Strengthening coordination on major international and regional issues”, “Cooling down hot issues”… China on expanding BRICS political and security cooperation The resolution reflects the common aspiration of the peace-loving people of the world.

At the same time, the high-quality cooperation of BRICS is also reflected in amplifying the voices of developing countries. “We must fulfill the role of the New Development Bank, promote reform of the international financial and monetary system, and enhance the representation and voice of developing countries.” So far, the loan amount of the New Development Bank has reached US$35 billion, and nearly 100 projects from member countries have been approved, providing a new alternative to the Western-dominated world financial system.

BRICS cooperation is moving towards high-quality development, which will further strengthen the power of world peace and development. As Chinese President Xi said at the “BRICS+” leaders’ dialogue on August 24, no country should be left behind in the process of world modernization!

(Credits-China Media Group, Beijing)

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