Moscow, March 26 IANS | 2 years ago

BRICS, a new global phenomenon, could become "a world game changer and stabilizer," head of a prominent Russian think tank has said.


"The development of BRICS in the last several years is remarkably dynamic and widely recognized," Georgy Toloraya, executive director of BRICS Research National Committee, told Xinhua in an interview.

Speaking of the March 26-27 BRICS summitld in South Africa, Toloraya said a wide range of issues would be on the table, and some important decisions were expected.

"The leaders will discuss the development of SA (South Africa) and the (African) continent as the theme this year is 'BRICS and Africa: Partnership for Development, Integration and Industrialization'."

He said the BRICS countries -- Brazil, Russia, India, China and South Africa -- could make joint efforts to promote the development of Africa, rather than competing with each other.

Other topics such as global governance, international financial architecture and cultural exchange would also be discussed, he said.

"We are in the process of establishing the guidelines for the future of BRICS, and it does have very sound potential to become an important factor in international affairs," the expert said.

As to the probable establishment of a BRICS development bank, Toloraya said the new institution would be "the first step to unify economic policies of the five emerging economies".

Consultations and discussions were important when differences arise among the BRICS members since each country has its national interests.

"There is no leader, or dominant power in BRICS," he added.

(Posted on 26-03-2013)