BRICS countries companions on journey of development

BEIJING, Oct. 20, 2024 /PRNewswire/ -- A report from People's Daily: The 16th BRICS summit is expected to be held later this month in Kazan, Russia. It will be the first summit of the expanded BRICS.

The BRICS cooperation mechanism is an important platform for cooperation among emerging markets and developing countries. Since its founding in 2006, the mechanism has continuously strengthened its cohesiveness, consolidated its foundation for cooperation, expanded its scope of cooperation and improved its influence. It has become a positive and stable force for good in international affairs.

The mechanism has developed a multi-level framework for practical cooperation in dozens of areas, including economy and trade, finance, science and technology, agriculture, culture, education, health, think tank and sister city development, becoming a constructive force in promoting global growth, improving global governance and promoting greater democracy in international relations.

By Jan. 1 this year, BRICS has expanded the number of its member countries to 10, which account for nearly half of the global population and 1/5 of the global trade. Their total economic output has overtaken that of G7 in PPP terms.

BRICS countries and the Global South share a natural bond of friendship and broad common interests. China supports BRICS countries in pursuing development and cooperation with an open mind, and welcomes more like-minded partners to join the BRICS family. Together, they can be the core driving force for open development, the construction team of global governance, the staunch for for peace, and the advocates for exchange among civilizations, thus contributing to the building of a community with a shared future for mankind.

Strengthening solidarity and development is a consensus of the BRICS family. Today, unilateralism and protectionism are emerging, and the Cold-War mentality and zero-sum game mindset rising. Hegemonism and power politics are posing threats to world peace and stability.

Against such backdrop, the common aspiration for strengthening solidarity and cooperation, as well as upholding equity and justice is rising among emerging markets and developing countries.

Together, BRICS countries convened the Extraordinary Joint Meeting of BRICS Leaders and Leaders of Invited BRICS Members on the Situation in the Middle East with Particular Reference to Gaza, and jointly defended the common interests of the developing world in such multilateral mechanisms as the G20.

China has stressed for times that development is an inalienable right of all countries, not a privilege reserved for a few. Facing challenges, BRICS countries should be fellow companions on the journey of development and revitalization.

The BRICS family is seeing closer trade exchanges. On Sept. 22, a chemical company based in east China's Jiangsu province shipped a batch of dyestuff worth 1.76 million yuan ($249,250) to Brazil. Thanks to the BRICS mechanism, the company deepened cooperation with its Brazilian partners. In the first eight months of this year, its exports to Brazil reached 60 million yuan. According to the Nanjing Customs in the provincial capital, Jiangsu's exports to other BRICS countries totaled 417.23 billion yuan in the January-August period this year, up 9.7 percent year on year.

In the first quarter of this year, China's trade with other nine BRICS countries totaled 1.49 trillion yuan, a year-on-year increase of 11.3 percent, accounting for 14.7 percent of China's total foreign trade volume during the same period.

The BRICS family is committed to practical cooperation. Recently, the BRICS New Development Bank approved a loan of up to $1 billion to finance water and sanitation infrastructure development in South Africa. Since its founding, the bank has provided infrastructure and sustainable development investment worth around $35 billion to BRICS countries, with the portfolio covering clean energy, energy efficiency, transport infrastructure, water and sanitation, environmental protection, digital infrastructure and social infrastructure.

Besides, BRICS countries are also deepening their exchanges and cooperation in connectivity, aerospace and aviation, ecological conservation and dialogue on civilization.

As stressed by United Nations Secretary-General Antonio Guterres, cooperation remains the only choice in the world full of serious crises and divides. The emerging markets and developing countries, represented by the BRICS countries, are working actively to achieve win-win results and implement the Global Development Initiative, becoming an important force promoting peace, stabilizing development and safeguarding security. It is believed that this force will be joined by more countries.

SOURCE People's Daily