World / BRICS summit

New agreements expected in upcoming BRICS Summit

(Xinhua) Updated: 2016-10-09 09:22

JOHANNESBURG - BRICS leaders will address matters of common interest and are expected to sign agreements at the next BRICS Summit to be held in India in mid-October, a senior South African government official said on Saturday.

India has placed emphasis on a people-centred approach to the upcoming Summit, said Anil Sooklal, Director-General for Asia and the Middle East of South Africa's Department of International Relations and Cooperation.

Sooklal said in an interview with Xinhua that South Africa will participate in all events building up to the Summit.

"We anticipate that BRICS leaders will review progress achieved by the New Development Bank (NDB) and Contingency Reserve Agreement (CRA) and discuss its next phase of operations. They will also review implementation of Strategy of BRICS Economic Partnership and sign various agreements," Sooklal said.

Discussions will also be held on global political and economic issues of common interest, according to the official.

The establishment of the CRA and NDB as well as the announcement of its first tranche of funding for green and sustainable projects for all five BRICS members shows that the bloc is growing, Sooklal said.

"We are heartened by the fact that our levels of synergy in assuming major positions in the BRICS context is strengthening annually, as can be seen in the annual Summit declarations and media notes that the BRICS leaders issue," he said.

Sooklal noted that BRICS has developed strategic cooperation mechanisms on various issues, with some having been implemented already while others, like health, population and education, are ongoing issues for dialogue.

BRICS will also continue to advocate for the change in the global organizations, Sooklal said.

"BRICS is intensifying joint efforts to amplify our voice in respect of agenda-setting as well as rule-making in international fora. Among the outcomes of the recently held G20 Hangzhou Summit were undertakings to make greater contribution to boosting world economic growth, improving global economic governance, promoting international trade and investment, and achieving sustainable development," Sooklal said.

BRICS countries are in the forefront of diplomatic initiatives as was evidenced at the G20 in Hangzhou, China, where the host enhanced the agenda of the global South, Sooklal said.

"The BRICS was formed, based on shared values of the need to restructure the global political, economic and financial architecture to be more equitable, balanced and resting on the important pillars of multilateralism and international law," he said.

"BRICS leaders repeatedly call for the reform of international financial institutions to make them more representative and to reflect the growing weight and relevance of BRICS and other developing countries," Sooklal said.

The BRICS groups Brazil, Russia, India, China and South Africa.

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