Source: CGTN    Published: 2024-10-18

By CGTN

The expansion of BRICS conforms to the historical trend of the rise of the Global South and reflects the yearning and demand of developing countries for a more just and reasonable international political and economic order, an expert told CGTN on Friday.

"In recent years, with the rapid rise in the economic sphere, the Global South countries have become an important force on the global stage. However, their international status or influence has not changed much, which is seriously unreasonable," said Wang Yiwei, director of the Institute of International Affairs and also director of the Center for European Studies at Renmin University of China.

The 2024 BRICS Summit will take place in Kazan, Russia, from October 22 to 24. This summit is the first gathering of BRICS countries since it doubled its size at the turn of the year. Saudi Arabia, Egypt, the UAE, Iran and Ethiopia became members of BRICS on January 1, joining China, Russia, Brazil, India and South Africa.

With more than 40 countries showing interest or formally applying to join the relatively nascent cooperation mechanism, BRICS' rising influence is being widely perceived as a testament to the rise of a multipolar world.

"For a long time, Western nations have dominated the process of setting trade and economic rules for countries in the Global South, which are actually not suitable for the latter," Wang continued.

"The Global South is now trying to strengthen collaboration between themselves to form a common voice and expand their common interests with a new mechanism," the expert noted.

Alexander Zhukov, first deputy chairman of the Russian State Duma, said at the BRICS Expert Forum in June that BRICS countries respect sovereign equality and the right to choose development paths independently. They take into account mutual interests, adhere to principles of openness and consensus, and strive to establish a multipolar world order and a fair global financial and trade system, collectively addressing the most pressing issues of the day.

The mechanism has become a model for inter-state cooperation, he noted, adding that Russia, as the rotating chair of BRICS this year, is hosting a series of events focusing on topics including politics, security, economy, finance, and education and culture.