BRICS Summit to shape new world order

South Africa hosts the 15th BRICS Summit with heads of state of the bloc and more than 50 leaders of global south countries expected to attend.

The summit is one of the largest gatherings of developing countries, and on the agenda will be geopolitical and geo-economic issues. these issues will determine the shape of what is effectively being described as a new world order.

The summit will shape the future of discussions on the expansion of BRICS more than 30 countries, including the uAE, Argentina and Egypt.

With the majority of the global population, BRICS countries and any expanded grouping should have the ability to shape global trade and to resolve global conflict through peaceful resolution.

The countries that are already part of the grouping have already committed to share their knowledge and expertise to help other developing countries emerge from stagnant economic climates and to contribute to the benefits of improved trade.

President Cyril Ramaphosa during a plenary session in the second Russia-Africa summit in St Petersburg in the Russian Federation said the summit is an opportunity to promote enhanced global co-operation to achieve common prosperity for all the nations of Africa.

The BRICS partners are significant investors in Africa.

The Summit will therefore give particular attention to infrastructure development, supported by the New Development Bank, and the African Continental Free trade Area.

“The African Continental Free trade Area, once fully operational, will unlock the benefits of the continental market and generate mutually beneficial opportunities for both African and BRICS countries,” Ramaphosa said. he said African countries seek reciprocal trade and investment, and for the goods, products and services from Africa to compete on an equal footing in the global economy.

“Respect and mutual benefit underpin our international relations.

“African countries should, as sovereign states, be able to pursue independent foreign policy approaches that are not beholden to any of the major global powers or blocs.

“The continent’s resources must be used for the continent’s benefit.”

South African President Cyril Ramaphosa and Russian President Vladimir Putin at the Russian-Africa Summit in St Petersburg. | Pavel Bednyakov/AFP

“The African Continental Free Trade Area, once fully operational, will unlock the benefits of the continental market and generate mutually beneficial opportunities for both African and BRICS countries.”