BRICS (Brazil, Russia, India, China, and South Africa) is the new name for the BRIC group, which was renamed after South Africa was admitted as a full member during the BRIC Foreign Ministers meeting in New York in September 2010. As a result, on April 14, 2011, South Africa participated in the third BRICS Summit in Sanya, China.
With 41% of the world’s population, 24% of its GDP, and more than 16% of global trade, the BRICS is a significant organization that brings together the world’s leading emerging economies. The BRICS countries have historically been the main forces behind economic progress on a global scale. Under the three pillars of political and security, economic and financial, and cultural and people-to-people contacts, the BRICS nations have come together over time to deliberate on key issues.
On January 1, 2023, South Africa assumed the role of BRICS Chair with the theme “BRICS and Africa: Partnership for Mutually Accelerated Growth, Sustainable Development, and Inclusive Multilateralism”. On February 1, 2023, South Africa received the official BRICS chair gavel from China at the first Sherpa and Sous-Sherpa Meeting. The theme briefs about the five priorities of the Chair for 2023:
Developing a Partnership Toward an Equitable Just Transition:
No region of the world is exempt from drastic climatic changes and harsh weather catastrophes. To combat climate change, all economic sectors must undergo urgent, major, and transformative reform. Opportunities must be investigated in order to control the hazards brought on by climate change while also enhancing the lives and prospects of individuals working in the targeted industries.
Transforming Education and Skills Development For the Future:
Long-term approaches to development and avoiding poverty include education and ongoing skill development. To open doors for the future, existing collaboration and initiatives for knowledge generation and exchange must be strengthened.
Unlocking Opportunities Through the African Continental Free Trade Area:
For commerce and investments in Africa, especially in infrastructure development, the African Continental Free Trade Area establishes a stable environment. Members of the BRICS are trustworthy allies in trade, development, and cooperation. The partnership between BRICS and Africa must concentrate on opening up prospects that are mutually beneficial for expanded trade, investment, and infrastructure development in order to operationalize the African Continental Free Trade Area in accordance with its aims and objectives.
Strengthening Post-Pandemic Socio-Economic Recovery and the Attainment of the 2030 Agenda for Sustainable Development:
The economic strategies and plans must be executed with the aim of placing the economies of the BRICS at the center of sustained global economic growth. A recognition of common, equity, and fairness but distinct responsibilities, and respective capacities should underly the response.
Strengthening Multilateralism, Including Working Towards Real Reform of Global Governance Institutions and Strengthening the Meaningful Participation of Women in Peace Processes
A more equal, fair, balanced, just, and representative global political, economic, and financial system is a goal shared by the BRICS, although this goal is met with global opposition from powerful groups. Recent reform achievements perform as the foundation for continuous efforts in order to channel the collective voices and influence of the BRICS where changes can be made. The marginalization of women in the processes of peace is required to be addressed. Without including women in conflict resolution and post-war reconstruction, it is impossible to create lasting peace, security, and sustainable development.
