"More than 40 countries have expressed interest in joining the BRICS group of countries, 22 of which have formally submitted applications," said Anil Soklal, South African delegate to the BRICS group. For some, it may be great news that many countries are eager to join this bloc. But for many, this is just a natural consequence.
From the day the original four emerging market countries - Brazil, Russia, India and China - embraced South Africa, turning "BRIC" into "BRICS", the group has been strengthening its ties with developing countries and emerging economies. Thanks to its practical collaboration and strong representation of the developing world, Brix has become so attractive that it is growing into a new framework of Brix Plus. Its popularity lies in three words as follows.
-- cooperation
Over the past two decades, a variety of cooperation mechanisms have been formulated in the areas of trade, finance, science and technology, agriculture, culture, education, health, think tanks, and more. Among them were the New Development Bank and the BRICS emergency reserve arrangement mechanism.
Information panels of the 15th BRICS summit are seen on a street in Johannesburg, South Africa, on August 17, 2023. (Xinhua)
Since its launch in 2015, the New Development Bank has approved nearly 100 loan projects worth more than 30 billion US dollars, providing a strong guarantee for infrastructure construction and sustainable development in emerging market and developing economies and contributing to global growth.
To promote common development for all, the bank also plans to provide $30 billion in financial support from 2022 to 2026, which targets the needs of developing countries. As Dilma Rousseff, President of the New Development Bank and former Brazilian President, said, “The New Development Bank listens to the voices of all member countries equally. It reflects the close ties between the BRICS countries and their shared commitment to South-South cooperation.”
With the New Development Bank providing more financial leverage and supporting more projects, the influence of BRICS has gone beyond the five countries. It has become an important cooperation platform for more developing countries, helping each other and driving global growth. This could also help improve global governance, and would lead to more democracy in international relations.
- pluralism
At present, BRICS countries account for nearly 42 percent of the world's population, 25 percent of the world economy and 20 percent of world trade. Since 2022, the five countries together have more than 14 percent of the voting power in the World Bank, and more than 14 percent of the total share in the International Monetary Fund.
This photo taken on April 1, 2019 shows a view of Cape Town, where the 15th BRICS summit will be held in South Africa this month, in the far south of the African continent. (Xinhua)
An expansion of the BRICS Plus framework would give it a greater say in the international arena. Thanks to the efforts of the BRICS, the long-ignored demands of the developing world will be more appreciated.
In contrast to the ideologically driven G-7 and Cold War-born NATO, the BRICS have no interest in geopolitical games or zero-sum thinking. Where some major powers are addicted to hegemony and unilateralism, the BRICS show what true multilateralism means - decisions about world affairs should not be made by one country or group of countries, but debated by all countries, big or small.
In 2010, after prodding from the BRICS countries, the developed economies agreed to transfer 3.13 percent of the voting rights in the World Bank and 6 percent of the quota in the International Monetary Fund to the developing members. This major change in the global economic landscape represents a major advance in reforming the global economic governance structure. Thus, the representation and voice of emerging markets and developing countries has greatly increased.
Cuban President Miguel Diaz-Canel said, "By defending multilateralism, the BRICS countries confront the concept of the Cold War and offer the possibility of establishing a more just and equitable international economic order."
-- equality
The BRICS countries advocate a new type of international relations featuring mutual respect, fairness, justice and win-win cooperation. More importantly, it recognizes that different countries have different national circumstances; Its core interests and major concerns must be respected; They must not interfere with the development paths and models they choose themselves.
As the United States has exploited its global economic dominance for decades, and failure to comply with the White House's orders will lead to sanctions or financial blackmail, cooperation with BRICS countries in investment and trade without imposing preconditions is more and more desirable for an increasing number of countries.
It is true that differences may exist between the BRICS countries, but this does not prevent the cooperation mechanism from working. The BRICS concepts and principles are in stark contrast to the style of some countries, which proceed from a position of strength and impose their will on others.
Precisely because BRICS advocates openness and inclusiveness, it welcomes countries with different civilizations, systems and development paths.
Since its birth, BRICS has symbolized the development prospects of emerging markets and developing economies. It is expected that BRICS will not only succeed in enlarging its membership, but also push multilateral cooperation to a higher level. BRICS plus will lead more countries to the development path of unity, inclusiveness and common prosperity.
