Home OPINIONS How BRICS is helping to form a new world order

How BRICS is helping to form a new world order

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Over the past year, BRICS cooperation has marked significant progress, solidifying its role as a powerful consortium comprising Brazil, Russia, India, China and South Africa (BRICS).

This collaboration has expanded the BRICS mechanism, ushering in a new era where emerging economies of the Global South unite to bolster their global influence and economic prowess.

With increasing appeal and influence, BRICS has strengthened its reputation as a pivotal voice in global affairs, fostering mutual success among its diverse member nations.

The expansion of BRICS has brought together countries representing nearly half of the world’s population and a substantial share of global trade.

These nations now collectively surpass the combined economic output of the G7 countries when measured by purchasing power parity. In the first quarter of this year alone, China’s trade with its BRICS partners surged by more than 11 per cent year-on-year.

Solidarity among BRICS nations was prominently displayed through initiatives like the Extraordinary Joint Meeting on the Middle East, which addressed critical issues such as the situation in Gaza.

This collective action underscored their commitment to safeguarding the interests of developing countries within prominent multilateral frameworks like the G20, amplifying their unified voice on pressing international matters.

BRICS also champions dialogue among civilizations, as exemplified by the United Nations’ designation of June 10 as the International Day for Dialogue among Civilizations.

This initiative, guided by President Xi Jinping’s Global Civilization Initiative, promotes mutual learning, respect for diversity and common progress among nations.

BRICS faces the imperative to elevate its role and vision. It confronts persistent Cold War mentalities and geopolitical bloc formations that undermine multilateral mechanisms like the UN Security Council.

BRICS advocates for fairness, justice, and adherence to international rules in the face of politicized economic issues, stretched national security concerns, and escalating unilateral actions and technology barriers. BRICS stands for fairness and inclusivity, advocating for balanced and globally beneficial economic globalisation.

The group aims to assume greater responsibilities and make substantial contributions on the global stage. Central to their agenda is reaffirming confidence in multilateralism, defending the UN-centered international system and countering attempts to disrupt global order.

Important upcoming international events, including the UN Summit of the Future and COP30 where BRICS countries will host the G20 summit, underscore the need for strengthened coordination and collaboration to prioritise development and equitable participation in global governance.

BRICS commits to fostering peace and security by promoting political settlements for global hotspots.

Recognising the futility of Cold War mentalities and bloc confrontations, BRICS advocates for dialogue and consultation to resolve conflicts such as those in Gaza and Ukraine.

They support comprehensive ceasefires, humanitarian aid, and the pursuit of long-term peace solutions such as the two-state solution in the Middle East and impartial international peace conferences for Ukraine.

The group reaffirms its founding principles of openness, inclusiveness and win-win cooperation.

Emphasising finance and trade cooperation, they aim to expand market opportunities, facilitate trade and investment, and enhance financial stability through mechanisms like local currency settlement.

Energy and food security are also prioritised to ensure stable global supply chains and sustainable development practices.

Innovation-driven cooperation is another cornerstone of the BRICS strategy, focusing on advancements in AI, industrialisation, digital education and connectivity. Initiatives like China’s AI development centre for BRICS countries illustrate their commitment to leveraging technology for mutual benefit and capacity building among member nations.

People-to-people exchanges play a crucial role in strengthening bonds between BRICS countries, fostering cultural understanding and promoting shared values.

Events such as sports and cultural festivals, alongside initiatives in areas like media, youth, and governance cooperation, enhance mutual respect and collaboration among diverse civilizations within BRICS.

BRICS is poised to shape a more equitable and prosperous global order. By upholding principles of multilateralism, BRICS nations are actively contributing to a world where all nations can thrive.

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