New BRICS Members’ Perspectives on Exploiting Potential Benefits
来源：moderndiplomacy.eu;发表于:2024-04-12;人气指数:52
Friday, April
12, 2024
New BRICS Members’ Perspectives on
Exploiting Potential Benefits
By Kester Kenn Klomegah
Under Russia’s presidency in 2024,
BRICS, which is an informal association consisting of Brazil, Russia, India,
China and South Africa, and together with its five new members, is being
discussed, beyond measure, most often focusing on its expansion and as a
mechanism for uplifting the Global South. By strategically forging new
alliances, for instance, African members can unlock their individual and
collective potential on the global stage.
Long before that, critics have argued
and considered BRICS as a tool to counterbalance western hegemony,
re-configurate away from the unipolar world, away from the control and
domination of United States. Now emphasis is also laid on supporting Asian and
African countries to have a strong voice on the global stage. As a result, many
African countries, expecting tremendous economic benefits, have lined up to
join prestigious BRICS. It has currently Ethiopia, Egypt and South Africa.
Some researchers often say BRICS offers
African countries the potential for increased economic cooperation through
fostering cross-border trade, investment, and technology transfer. This
partnership can foster sustainable industrial development, promote job
creation, and foster innovation, ultimately contributing to Africa’s long-term
economic growth. By joining BRICS, African countries can tap into resources and
economic opportunities of wealthy members, while other fear begging-bowling
African countries will display their over-reliance by aligning with BRICS.
At the end of the XV BRICS summit in
South Africa from 22-24 August 2023, the joint statement and communique called
for reforms within the International Monetary Fund (IMF), World Bank and other
global financial institutions. Those collective heightened criticisms and
intense debates over restructuring of the global economic architecture shifted
blames to the wealthy nations. Records show that wealthy nations have provided
support to debt-saddled developing countries, and helped many vulnerable
nations to deal with poverty and aspects of economy development. In some cases,
funds for development ventures have been misappropriated by African
politicians.
In order to address this disparity,
BRICS established the New Development Bank (NDB) to undertake similar functions
as IMF and Bank. The BRICS’s (NDB), for now focuses on assisting its members,
and consequently put developing countries on its waiting agenda. But in an
idealistic view of South African based independent researcher, Dr. Seife
Tadelle Kidane, the African continent stands at a crossroads amid the
geopolitical changes.
“Traditional development models often
prescribed by international institutions have frequently fallen short in
addressing Africa’s unique socio-economic context. The continent must challenge
conventional wisdom and embrace innovative approaches that prioritize the needs
and aspirations of its people. This entails moving away from a
one-size-fits-all approach towards tailored solutions that are context-specific
and culturally relevant,” he wrote in Opps article titled “Rethinking Africa’s
Development Strategy” in March 2024 in The Reporter Ethiopia.
According to him, as Africa undertakes
the reassessment of its development strategy, it is crucial to recognize and
address the diverse threats and opportunities that shape its trajectory. By
tackling challenges such as political instability, governance weaknesses, and
economic vulnerabilities, while harnessing opportunities like demographic
dividends, regional integration, and technological innovation, Africa can chart
a path towards sustainable development, resilience, and prosperity for all its
citizens.
The researcher indicated that
fragmentation and the lack of connectivity hinder Africa’s integration into the
global economy. It is vital for unlocking the continent’s economic potential.
Removing trade barriers, harmonizing regulations, and investing in cross-border
infrastructure facilitate the creation of larger and more competitive markets,
benefiting producers and consumers alike.
Dr. Seife Tadelle Kidane, seemingly,
suggested that in addition of racing to join new emerging association such
BRICS, there is equally the necessity advocating for initiatives like the
African Continental Free Trade Area (AfCFTA) and promoting stakeholder
participation can advance regional integration. Additionally, empowering young
women entrepreneurs and leaders and advocating for the unrestricted movement of
goods and people across Africa align with the principles of Pan-Africanism and
the African Renaissance.
Next in line is another criticisms that
could, more or less, feature as weakness from the combined sociological and
cultural facts presented in mid-March 2024 by Jude Osakwe, a professor at the
Namibian University of Science and Technology (NUST), focusing on BRICS+ and
the Global South collaboration. He explained that BRICS+ has the potential to
drive significant economic growth and development in the region. However, there
are also challenges that must be addressed in order to fully realize the potential
benefits of this collaboration with the Global South.
One of the key problems facing BRICS+
and the Global South collaboration is the diversity of the countries involved.
While this diversity can be a source of strength, it can also create challenges
in terms of aligning priorities and interests. Differences in political
systems, economic structures, and cultural norms can make it difficult for
countries to work together effectively. Additionally, the members of BRICS+
vary significantly in terms of their level of economic development and
political influence, which can further complicate efforts to create a cohesive
alliance.
Despite the challenging arguments, Prof.
Jude Osakwe, however concluded that BRICS+ and the Global South collaboration
has the potential to drive significant economic growth and development in the
region. However, in order to fully realize these benefits, member countries
must address the challenges of diversity, power dynamics, and unequal
distribution of resources. By prioritizing dialogue, transparency, and mutual
respect, these countries can build a stronger and more effective alliance that
can positively impact the lives of millions of people in the Global South.
Nevertheless, with many developing
countries racing to join BRICS is an explicit indication of the association
importance in the emerging multipolar world. It also demonstrates that the
regional processes will inevitably be accompanied by the revival of the global
process. BRICS can play a harmonising and unifying role in this. Of course, it
takes great diplomatic skill to bring them together, according to Russian
Foreign Minister Sergey Lavrov.
Quite recently on March 28, in an
interview with Izvestia Multimedia Information Centre, Sergey Lavrov underlined
thus: “We are preparing to introduce a new status, partner countries, at the
next summit. About 30 countries are standing in line. The BRICS association has
acquired a global dimension not only in terms of its agenda and geography – it
represents nearly all the main regions – but also by the number of countries.
This is the development paradigm of diplomacy today. Globalization, which the
Americans forced on everyone based on their own rules, has shown that nobody
can set it hopes or rely on the United States.”
Russian Deputy Prime Minister Alexey
Overchuk also noted at the Boao Forum, which was established by the Chinese
government in 2001, that BRICS as a platform for multisided cooperation with
the participation of countries of the Global South. “BRICS may virtually become
a platform where countries of the Global South will be taking decisions,
expressing their views,” he said at the Boao Forum for Asia as he commented on
the prospects of cooperation between members of the integration and other
states. “And Russia’s presence in particular will ensure interdependence, which
is necessary for our joint development relying on the principles of consensus
and mutual respect,” the official stressed.
Russia is chairing the BRICS association
this year. It is more active contributing towards global stability and security
in collaboration with other international organizations including the United
Nations. Russia is generally playing a key role in shaping a multipolar world
order. The 2024 BRICS (Brazil, Russia, India, China and South Africa) summit
will take place in Kazan, capital of the Republic of Tatarstan.
According to the records, Ethiopia and
Egypt (Africa), Iran, Saudi Arabia and the United Arab Emirates became
full-fledged members of BRICS on January 1, and thus strengthening its
numerical strength of the original members Brazil, Russia, India, China and
South Africa. The BRICS, established in 2006, first expanded in 2011, when
South Africa joined the four founding nations of Brazil, Russia, India and
China.
Kester Kenn Klomegah is an independent
researcher and writer on African affairs in the EurAsian region and former
Soviet republics.
Modern Diplomacy
Source: moderndiplomacy.eu