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The tenth edition of the BRICS Summit will be held in Johannesburg on Thursday, in the presence of Prime Minister Narendra Modi, who will complete his three-stage African tour. Modi will seek to take advantage of this opportunity to continue its "make in India" mission and to bring member nations together on a common ground against terrorism and trade wars
BRICS is a group of five major emerging economies: Brazil, Russia , India, China and South Africa. Originally, the first four were grouped under the name "BRIC" before the South Africa's inauguration in 2010. Members are expected this year to deliberate on issues such as the international peace and security, global governance and trade wars.
BRICS leaders at the 2018 summit. Reuters
The theme of this year's summit is "BRICS in Africa: Collaboration for Inclusive Growth and Shared Prosperity in the World". 4th industrial revolution ". India's relations with South Africa go back centuries, with India being at the vanguard of the international community in its support for the anti-apartheid movement in Africa. The year 2018 also marks 25 years since the resumption of India's diplomatic relations with South Africa in 1993. The South African community of Indian origin has about 1.5 million of people and represents about 3% of the total population of South Africa.
position
Modi, however, will make an act of balance of cooperation and parity with all other members. On the one hand, it will seek new markets for India, and on the other hand, it will ensure that member countries reach consensus on key issues like commercial tariffs and terrorism.
Overall: multilateralism, global governance, health and vaccines, women's socio-economic empowerment, peacekeeping, science network, parks and technology, inclusive growth, sustainable development, and infrastructure. But for the first time, a BRICS leadership retreat is being organized during which the leaders will deliberate and take stock of the BRICS cooperation during the decade and its future prospects, the Foreign Ministry said in a statement. his press release
. The idea of a BRICS rating agency will also be discussed at this year's summit, said TS Tirumurti, secretary for economic relations at MEA. India had urged the BRICS countries to create an independent five-member rating agency at the first meeting of BRICS Finance Ministers and Central Bank Governors on the sidelines of the IMF and IMF Spring Meetings. World Bank in April 2018.
Whereas at the informal meeting of BRICS leaders on the margins of the G20 Summit in 2017, Modi also stated that prompt steps should be taken to establish the rating agency credit BRICS while affirming that BRICS should be a voice of stability, reform, progress and governance on the world stage
Key issues and agenda of members
The summit could Also see the five nations fight against the protectionist trade policies of US President Donald Trump as indicated by the standards relating to financial and economic integration. to the facilitation of investment, a report Business Standard said:
According to the report, nations are also ready to take discussions on the facilitation of BRICS investments, a mechanism intended to facilitate investment between member countries. However, India and China are at the two extremes of the investment facilitation debate, with Beijing actively pushing for a trade facilitation agreement on investment at the WTO and in insisting India. on the fact that such a decision should only be taken by consensus. At the BRICS Finance Ministers meeting in 2018, the BRICS countries agreed to "fight against trade protectionism together".
Even in BRICS 2017, four documents, including one on economic and commercial cooperation, were signed by the five BRICS. country in order to deepen the commercial links between the members of the group. But, the agenda for 2018 could largely be based on some key factors like trade wars.
First of all, this summit is held in the context of the American trade war that will probably affect the five nations of the group. The focus will therefore be on consolidating intra-BRICS trade through reduced tariffs. Secondly, Russia and China may not have the best relations with the United States and the rest of Europe, but President Xi Jinping and President Vladimir Putin will seek to consolidate their leadership for closer cooperation within the BRICS.
on Wednesday urged BRICS members to support multilateralism and improve global governance. "We should urge all parties to fully respect the international rules adopted collectively, and we should treat all countries as equals regardless of their size," Xi said. He called on the BRICS countries to promote common, comprehensive, cooperative and sustainable security and to engage actively in mediation efforts to solve geopolitical problems. "It is important for us to strongly support the multilateral trade regime, to advance the reform of global economic governance and to increase the voice and voice of emerging markets and developing countries," Xi said. . Thus, the threat of a global trade war that worsens will be at the center of this year's summit priorities. Russian Economy Minister Maxim Oreshkin said before the meeting that "this summit is about the context – we are at a time when the United States and China are announcing new measures almost every week". He said that much of the discussion with China would focus on what is happening with the United States. "It's a trade war, so leaders' discussions are particularly important in coordinating our positions," Oreshkin said.
Meanwhile, China is committed to strengthening its cooperation with other countries. It will do so in response to "the challenges posed by the changing policies of some developed countries," said Chinese Vice Foreign Minister Zhang Jun.
Therefore, Johannesburg will focus on the consolidation of tariff members' business relations. It will also boost trade between member countries, which has stagnated or declined in recent years.
For India, the agenda will be twofold. First, he must use his influence to cultivate the Russia-China axis in order to counterbalance the United States, which is becoming more and more introverted. Secondly, India will have to present its market also widely open for a higher level of investment from these countries.
In addition, Africa and sustainable development will also receive a lot of attention at the top of this year. Despite the list of heavyweight delegates, South African leader Cyril Ramaphosa will stand out as the host and novice president. As the economy of Africa is plagued by corruption problems, Ramaphosa hopes to obtain from his counterparts additional investment and trade agreements.
The leaders of other African countries and institutions also participate in this summit. program, following visits to the region by the Indian Prime Minister and the Chinese President.
Meanwhile, the Brazilian delegation will seek new forms of cooperation that can benefit their sluggish economy, which is threatened by the great threat hanging over it. American Trade and the Currency War
As for Russia, its substantial political influence will be its main card to play at a time when Russia is about to be ruled out for some countries. President Putin would seek to demonstrate warm relations with other members. In addition, following Putin's recent bilateral talks with US President Donald Trump, the summit is a chance for Russia to strengthen its global position and undermine Western containment, including the economic sanctions imposed after the crisis in Crimea in 2014. In fact, China will also be a theme, after China's foreign minister recently described them as "at their best in history", Eyewitness News reported
Role of Turkey
Moreover, a significant additional feature of this year's summit is the participation of Turkey. "The summit presents an important opportunity for its member countries and Turkey to develop closer cooperation," said Turkish President Recep Tayyip Erdogan.
Before traveling to South Africa, Erdogan made these remarks at a press conference at Ankara Airport. , adding that BRICS member countries have contributed over the last decade to 50% of global economic growth. And, although Turkey is not a member of the BRICS, Erdogan will attend a special session of the event in his capacity as current president of the Organization of Islamic Cooperation, Xinhua . Turkish cooperation has increased considerably in recent years and the two countries are seeking to work together on Syrian issues to find a peaceful solution to the crisis on the Turkish border.
However, will the BRICS members become a credible capable bloc of the United States, the EU, the G7 and OPEC, which will remain to be seen after the Johannesburg summit?
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