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NATION SEPTEMBER 01, 2023 | The Indian Eye 6

After BRICS expansion, group eyes reforms in

UN Security Council and Bretton Woods system

The world has changed and so global governance must change with it. It must

represent today’s power and economic relations, says UN chief

OUR BUREAU
Johannesburg (South Africa)

n a major global development,
the BRICS group of nations on
IThursday decided to include six
new members- Argentina, Ethiopia,
Egypt, Iran, Saudi Arabia and the
UAE. The new membership will be ef-
fective from January 1, 2024. Leaders
from Brazil, Russia, India, China and
South Africa (BRICS) supported the
expansion of the grouping, the first
such expansion since 2010 when South
Africa was inducted into the group.
South Africa’s President Cyr-
il Ramaphosa said that Argentina,
Egypt, Ethiopia, Iran, Saudi Arabia
and UAE have been invited to join
the BRICS as part of the first phase
of expansion. With this expansion, six
of the world’s nine largest oil produc-
ers are now part of BRICS.
Ramaphosa made the announce- Prime Minister Narendra Modi participates in the BRICS-Africa Outreach and BRICS Plus Dialogue during the 15th BRICS Summit, in Johannes-
ment while issuing the Johannesburg burg on Thursday. South African President Cyril Ramaphosa and Brazilian President Lula da Silva are also present (ANI)
Declaration of 15th BRICS Summit.
Prime Minister Narendra Modi
said that “India has always supported global governance, so that it rep- in which I believe two areas require and inclusive supply chains. We all
the expansion of BRICS and has al- resents today’s power and economic a particularly important reform ef- saw during COVID-19, how the dis-
ways believed that adding new mem- relations, and not that of 1945 when fort. One is the Security Council, the ruption in the pharmaceutical sup-
bers will strengthen BRICS as an the institutions were initially formed. second, the Bretton Woods system,” ply chains was so adversely affected.
organization. President Ramaphosa, Addressing a press conference at Guterres said. Many countries efforts to provide
as chair of the Summit and of BRICS the 15th BRICS summit in Johannes- At a Ministry of External Af- health security to their citizens. “
made the announcement in his open- burg, South Africa, Guterres empha- fairs (MEA) press briefing, Foreign Kwatra said the PM entailed the
ing statement and thereafter the sized that the two areas that require Secretary Vinay Kwatra said that in significance of India’s growth story
President invited his counterparts reforms particularly are the Security the BRICS summit which concluded and the value of Intra-BRICS coop-
and colleagues from the BRICS Council and the Bretton Woods sys- under the presidency of South Africa eration through the modality of the
member states to also present their tem. “The world has changed and so in Johannesburg, Prime Minister Na- BRICS business forum.
statements. global governance must change with rendra Modi highlighted the BRICS He said, “PM touched on the as-
“This summit reaffirmed the im- it. It must represent today’s power Business Forum as one of the key pil- pect of what is the significance of In-
portance of BRICS, people-to-peo- and economic relations and not the lars of intra-BRICS partnership. dia’s growth story, and what is its value
ple exchanges & enhancing friend- power and economic relations of Giving details, Foreign Secre- for intra-BRICS cooperation through
ship & cooperation...We adopted 1945. That is why I have been advo- tary Vinay Kwatra said, “PM Modi the modality of the BRICS business
the Johannesburg two declarations cating deep reforms to make global highlighted that the BRICS Business forum. The opportunities that the
which reflect key BRICS messages frameworks truly universal and rep- Forum is one of the key pillars of In- India Grow story presents, the value
on matters of global economic, fi- resentative of today’s realities,” Gu- tra-BRICS partnership, amongst the proposition that it brings whether it
nancial and political importance. It terres said. BRICS countries”. is in the forms of trade, technolo-
demonstrates the shared values & He further stressed having more He added that PM also em- gy, capital or all elements of that.”
common interests that underlie our inclusive institutions and making braced the need to develop resilient Foreign Secretary Vinay Kwatra
mutually beneficial cooperation as sure that they reassume true univer- and inclusive supply chains to avoid added, “The major outcome of the
the five BRICS countries...” Rama- sal character. disruptions in pharmaceutical supply BRICS Summit is the decision of the
phosa said. “We need more inclusive institu- chains. BRICS leaders to expand its mem-
Also, United Nations Secre- tions at every level, including greater He further added, “He (PM) bership to include six new members,
tary-General Antonio Guterres on representation of women and young also spoke about an important ele- Argentina, Egypt, Iran, Ethiopia,
Thursday stressed on reforms in people. But all these in the context ment, the need to develop resilient Saudi Arabia and UAE”.

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