MOSCOW,(ST)_ Russian President Vladimir Putin stressed in a statement to the Russian News Agency Itar- Tass on Friday on the eve of convening BRICS Summit in South Africa that there are a number of long-term factors working on BRICS’ success.
“We share approaches to the pressing international issues, including the Syrian crisis, the situation around Iran, and Middle East settlement.” President Putin emphasized.
He said that for the last two decades the economies of Brazil, Russia, India, China and South Africa have been in the lead of global economic growth. Thus, in 2012, the average GDP growth rate in the group amounted to 4%, while for the G7 this index was estimated at 0.7%. In addition, GDP of the BRICS countries derived from the national currency purchasing power parity is currently over 27% of the global GDP and its share continues to increase.
BRICS is a key element of the emerging multipolar world. The Group of Five has repeatedly affirmed its commitment to the fundamental principles of the international law and contributed to strengthening the United Nations central role. Our countries do not accept power politics or violation of other countries’ sovereignty.
He continued that the BRICS’ credibility and influence in the world is translated into its growing contribution to the efforts to stimulate global development. This important matter will be specifically addressed at the BRICS Leaders – Africa Dialogue Forum to be held on the sidelines of the Durban summit.
BRICS members advocate the creation of a more balanced and just system of global economic relations. The emerging markets are interested in long-term sustainable economic growth worldwide and reforms of the financial and economic architecture to make it more efficient. This is reflected in last year’s joint decision to contribute $75 billion to the IMF lending programme, thus increasing the participation of the fastest growing economies in the Fund’s authorised capital.
Russia, as the initiator of the BRICS format and chair at its first summit in Yekaterinburg in 2009, sees the work within this group among its foreign policy priorities.
This year, “I have approved the Concept of the Russian Federation’s Participation in the BRICS group, which sets forth strategic goals we seek to achieve through interaction with our partners from Brazil, China, India and South Africa.” He noted
Such cooperation in international affairs, trade, capital exchange and humanitarian sphere facilitates the creation of the most favourable environment for further growth of Russian economy, improvement of its investment climate, quality of life and well-being of our citizens. ” Our membership in this association”, the Russian President went on, helps foster privileged bilateral relations with the BRICS nations based on the principles of good neighbourliness and mutually beneficial cooperation. He expressed belief that it is crucial to increase Russia’s linguistic, cultural and information presence in the BRICS member nations, as well as expand educational exchanges and personal contact.
T. Fateh