Emerging bloc has challenges and missions ahead

As a multilateral cooperation platform for Brazil, Russia, India, China and South Africa, BRICS has become an active player in global governance. The 10th BRICS summit in Johannesburg, South Africa, from July 25 to 27 is significant, because it brings together the leading emerging economies which are committed to safeguarding and promoting globalization and free trade amid growing unilateralism and trade protectionism in many parts of the world.

As important members of the G20, the BRICS states are helping reform the global governance mechanism to make it fairer and more representative of the changing world marked by the emergence of developing countries as vital drivers of global growth.

Within a decade, the BRICS group's proportion in the global economic aggregate has increased from 12 percent to 23 percent, contributing to about half of global growth. As such, the deepening of cooperation among its members will make BRICS an even bigger driver for global trade and investment.