BRICS takes South-South cooperation to a new level

South Africa will be hosting the 15th BRICS Summit in August this year. This will be the second time the summit will be hosted on South African shores since 2018. As the BRICS Chair, South Africa will host the BRICS High Level Dialogue and also set the agenda for the summit, as reported by Pretoria News, a partner of TV BRICS.

In its 15 years of existence, the BRICS group has become a platform for voicing and advancing the interests of the Global South countries and promoting South-South co-operation in trade, investment, technology, and security among other areas. Collectively controlling 26% of the global economy and being home to 40% of the global population, BRICS has the economic muscle to push through its agenda.

Its consistent advocacy for a new global order is in line with Africa’s long-term demands for the reform of global institutions such as the International Monetary Fund (IMF), the World Bank, and the United Nations Security Council (UNSC). African leaders have long decried the continent’s under-representation in these institutions which shape the global economic and political trajectory with direct implications on the continent.

As the only African representative in the group, South Africa has vowed to advance continental interests. BRICS’ insistence on South-South cooperation presents an opportunity for Africa to escape its neo-colonial and one-sided relationship with the West which has exacerbated the underdevelopment of the continent. This shift is already happening with China being Africa’s biggest trading partner since 2009. In 2022, trade between China and Africa reached a record $254 billion. The continent has also seen growing trade and investment ties with India, Russia, and Brazil.

Plans and discussions have been under way for a long time to expand the BRICS group by adding new members. Other key emerging markets such as Saudi Arabia, Argentina, Iran, Senegal and Turkey among others have shown interest in joining the group. During the 2022 Summit, BRICS countries declared their support promoting discussions among BRICS members on BRICS expansion process.

South Africa should use its position as the Chair of the bloc to push for the admission of an African country from the few that have shown interest such as Senegal and Egypt. Having another African country would go a long way in ensuring the inclusion of African interests in the BRICS agenda.

Also high on the agenda of the BRICS Summit will be co-operation on addressing climate change whose impact in the Global South is becoming increasingly devastating. Hundreds of millions of people in the Global South including Africa are suffering from the damage caused by climate change events which have worsened food insecurity, led to massive displacements and destroyed critical infrastructure.

If left unattended, this situation is likely to metamorphose into a deadly security crisis. Hence, it is important that BRICS countries use the upcoming summit to explore measures to address the impact of climate change and also coordinate their positions for this year’s United Nations’ 28th Conference of Parties where climate change is discussed at the global level.

Photo: IStock