International community eyes outcomes of BRICS Summit in Johannesburg

BEIJING- The 10th summit of Brazil, Russia, India, China and South Africa, or collectively BRICS, was held in Johannesburg from Wednesday to Friday, with the Johannesburg Declaration issued, mapping out a blueprint for the emerging-market bloc’s second “Golden Decade.”

The international community highly regarded the outcomes of the summit, saying that this summit marks that the BRICS countries are taking new steps in strengthening innovation and industrialization, sending a clear message for defending multilateralism and opposing trade protectionism, and it will further BRICS cooperation and play a key and positive role in boosting the world economic growth and improving global governance.

“For the BRICS as a whole, the strong emphasis on technology and the impact on manufacturing and employment was key in driving the group’s agenda forward,” said Cyril Prinsloo, a researcher at the South African Institute of International Affairs.

“There have been several important outcomes at this summit,” said Alissa Xinhe Wang, chair of BRICS Research Group based at the University of Toronto in Canada, adding that the establishment of the BRICS Partnership on New Industrial Revolution is a firm step made by the BRICS to catch the opportunities brought by the Fourth Industrial Revolution.

The BRICS mechanism has played a positive role in boosting the BRICS countries’ economies and international trade, said Ronnie Lins, director of the China-Brazil Centre for Research and Business.

The BRICS countries enjoy increasingly closer cooperation in financial and economic realms, with the economic cooperation remaining the focus, Lins said.

They will play a more important role in boosting global economic growth and establishing a new world financial and economic order in the future, he said.

In the Johannesburg Declaration issued on Thursday, BRICS leaders said that they will join hands to strengthen multilateralism and push for a fairer, more equal, more democratic and more representative world order.

Prinsloo believed that the Johannesburg Declaration reiterated the BRICS stance on the World Trade Organization (WTO) and expressed the BRICS resolve to strengthen the multilateral trade regime, which “signifies the BRICS intent in the face of increasing protectionism that threatens the global trading regime.”

“Over the past decade, the cooperation has matured and deepened. Presenting a unified voice and agenda on key issues impacting not only on BRICS, but equally (for) all countries globally, illustrates the BRICS’ commitment to forging a better world,” Prinsloo said.

It is encouraging that the BRICS countries have expressed their voice and joined hands to face challenges, said BRICS Business Council Co-Chair Onkar Kanwar.

Source: Ghana News Agency