RT.com
26 Nov 2022, 00:13 GMT+10
The trade bloc offers a new model of growth entailing equal rights and opportunities for members, Purnima Anand says
The role of BRICS on the global stage is increasing every day and many countries are attracted to the economic bloc by the new solutions and stability it offers, believes the president of the BRICS International Forum, Purnima Anand, who spoke exclusively to RT this week.
The BRICS group of emerging economies currently consists of Brazil, Russia, India, China, and South Africa. The bloc accounts for more than 40% of the world's population and nearly a quarter of global GDP.
With Western economies in decline, many countries, even members of OPEC and OECD, are now interested in the stability that BRICS has to offer, Anand noted. In particular, she mentioned OECD member Türkiye, which is currently applying for BRICS membership.
Many countries that are friendly to BRICS are joining the bloc, she said, adding "So, this is [the] time when power is shifting from West to East."
The official, however, stressed that BRICS is not "a competitor of the Western economy." BRICS nations cooperate and have a common perspective, because "we don't want to develop another model of the Western economy and democratic process; we want a new model where all the members have equal rights and opportunities to grow together."
Anand argued that for a long time Western powers had been using the whole planet in their interests, exploiting both the human and natural resources of other countries and continents. In the Western economic growth model, some countries "are very high, while others very low and don't get an opportunity for their economic development," she noted.
Today, the countries comprising the Eastern world understand what the West is doing and what is good for them, Anand said.
The BRICS forum president emphasized that the whole world is currently in a very "disturbing" situation, with inflation running high and countries looking for solutions. Meanwhile, China, Russia, and India have started transitioning to using their local currencies in trade, which shows that there are alternative solutions within the BRICS bloc.
Talking about Western sanctions against Russia, she said the restrictions are creating an opportunity for BRICS economies. "This is very high time for BRICS partners and alliances to create good structure ... to understand where we are moving, what cooperation is required, and what new dimensions are developing by the participation of new members," Anand said.
For more stories on economy & finance visit RT's business section
(RT.com)
Get a daily dose of Sports Sun news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Sports Sun.
More InformationThe Cleveland Cavaliers look to bounce back from a rare home loss when they host the Memphis Grizzlies on Thursday. ...
The Boston Celtics didn't do much wrong in the opening quarter and breezed to a 139-96 home victory over the ...
Dejounte Murray recorded 21 points, eight assists and six rebounds and the Atlanta Hawks never trailed while drubbing the host ...
Lauri Markkanen scored 28 points and grabbed 13 rebounds and rookie Walker Kessler had a big game on both ends ...
Los Angeles Dodgers CEO Stan Kasten and president of baseball operations Andrew Friedman expressed no regrets Wednesday about the team's ...
Lauri Markkanen scored 28 points and grabbed 13 rebounds and rookie Walker Kessler flirted with a triple-double en route to ...
The PGA Tour makes the 14th of 44 regular-season stops in the FedEx Cup season at one of the world's ...
Hall of Fame NFL executive Bobby Beathard, an architect of four Super Bowl titles for two different teams, has died ...
Buffalo Bills safety Damar Hamlin is teaming up with the American Heart Association on an initiative promoting CPR. Hamlin had ...
He inspired, confounded and dominated peers for 23 years in the NFL, but Tom Brady insists he's leaving for real ...
The San Francisco quarterback room just got smaller as 49ers head coach Kyle Shanahan signaled Wednesday that Jimmy Garoppolo will ...
Field Level Media's Golf Glance provides weekly news and storylines from each of the major North American golf tours. PGA ...