BRICS has entered its second decade of existence and the outcomes of the first decade were positive.
BRICS has entered its second decade of existence and the outcomes of the first decade were positive. The group highlighted South-South cooperation as “an important element of international efforts in the field of development” (Joint Communiqué, 2008), reiterated the “central role” of the G20 for global governance (Joint Statement, 2009) and advocated reform of international institutions – especially the IMF, the World Bank, and the UN – in order to reflect the new reality of the international system and increase the participation of emerging economies in international decision-making processes in a way compatible with the relevance of the economies.
Each year, the agenda of the BRICS has become wider and the Summit in South Africa in 2018 brought important contributions, particularly in the area of people-to-people exchanges and research and innovation, signaling these as important vectors of action of the group for the future.
Aiming to maximize the opportunities and address the challenges arising from the fourth Industrial Revolution, the 10th Summit of the BRICS decided to give full operationalization to the establishment of the BRICS partnership on New Industrial Revolution (PartNIR). PartNIR intends to create science parks and technology business incubators. The five countries also agreed to establish the BRICS Energy Research Cooperation Platform and also the BRICS Agricultural Research Platform (ARP) with the last one initiated by India in 2016. These initiatives are in line with the outcomes of the BRICS Environment Ministers’ Meetings, including the implementation of the Environmentally Friendly Technology Platform.
This story is from the January 2019 edition of China Today (English).
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This story is from the January 2019 edition of China Today (English).
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
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