RT.com
25 Nov 2022, 19:43 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 Travel Trade 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 Travel Trade.
More InformationOTTAWA, Canada: With Canada Post struggling to maintain operations amid labour unrest, rivals like FedEx and UPS are stepping in to...
NEW YORK, New York - U.S. and global markets showed a mixed performance in Tuesday's trading session, with some indices edging higher...
PARIS, France: French military and intelligence officials have accused China of orchestrating a covert campaign to damage the reputation...
NEW DELHI, India: Birkenstock is stepping up its efforts to protect its iconic sandals in India, as local legal representatives conducted...
HONG KONG: China has fired back at the European Union in an escalating trade dispute by imposing new restrictions on medical device...
NEW YORK, New York - Monday's trading session saw mixed performances across U.S. and global markets, with several major indices posting...
PARIS, France: French military and intelligence officials have accused China of orchestrating a covert campaign to damage the reputation...
PARIS, France: A strike by French air traffic controllers demanding improved working conditions caused significant disruptions during...
WASHINGTON, D.C.: The U.S. government has granted GE Aerospace permission to resume jet engine shipments to China's COMAC, a person...
CAIRO, July 9 (Xinhua) -- Under the strategic guidance of leaders of the two countries, China-Egypt relations have, over the past years,...
New Delhi [India], July 9 (ANI): The Parliamentary Standing Committee on Transport, Tourism and Culture is holding a meeting at Parliament...
Bengaluru (Karnataka) [India], July 9 (ANI): Principal Secretary to Prime Minister P K Mishra visited the Hindustan Aeronautics Limited...