South Africa looks forward to strengthening economic cooperation at the BRICS Summit and is considering launching a common currency

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An interview with Anil suklal, the representative of South Africa in the BRICS group, published by BRICS TV on Wednesday, highlights the agenda and priorities of the upcoming BRICS summit to be held in Johannesburg from August 22 to 24. The BRICS consists of five members: Brazil, Russia, India, China and South Africa. All the leaders of the member states will be invited to attend the summit, which will be the first face-to-face summit in four years.

Suklal explained that BRICS as a global alliance is based on three main axes, namely political security, economic and financial development and social interaction between member states. He stressed that all these axes are necessary to create a just and just global political architecture,and to provide a safe and stable environment for all. On the economic and financial side, he pointed out the importance of a stable global financial architecture and a global financial sphere, therefore he considers that trading in local currencies is necessary.

The BRICS leaders are expected to discuss the launch of a common currency during the summit in August, as some predict that the BRICS common currency will undermine the dominance of the US dollar as countries increasingly tend to get rid of it.

Regarding the goals of the upcoming BRICS summit, suklal explained that strengthening economic cooperation is one of the priorities. He added that the group adopted the second version of the BRICS Economic Partnership Strategy. “The document identifies the main areas of cooperation between the BRICS countries until 2025 in the areas of trade, investment, finance, digital economy and sustainable development,”he said.

As for the forecast about the economic recession in the world, where the World Bank and the IMF have indicated that two-thirds of the world economy will be in recession this year, suklal expressed his opinion that this forecast will not affect the BRICS countries. “We will witness a positive dynamic, as India and China are among the fastest growing economies, and they contribute to stimulating the BRICS economies and the global economy in general,”he added.

As for the growing interest in joining the BRICS group, suklal revealed that BRICS leaders have asked them to study the expansion of the association and set guidelines for accepting new members. It was recently revealed that 19 countries have applied to join or expressed interest in joining BRICS. He stressed that this is a positive thing for the group, as it reflects the confidence of the global south in the leadership of the association.

The upcoming BRICS summit looks forward to strengthening economic cooperation between member states and expanding cooperation in areas such as trade, investment, finance, digital economy and sustainable development. It is also exploring the possibility of launching a common BRICS currency, reflecting the global trend towards taking the US dollar out of control and strengthening the financial independence of BRICS. It is expected that the BRICS countries will continue to achieve positive growth and stimulate global economies through the economic prosperity of India, China and other member states.

The BRICS group is also moving towards expansion and acceptance of other countries as new members. It reflects the confidence of 19 countries in the global south in the strong leadership of BRICS and its important role in the global scene.

In general, the BRICS leaders aim to strengthen economic cooperation and promote justice and equality in the world, by establishing a sustainable global political architecture and providing a safe and stable environment for all. The upcoming BRICS summit will be an important occasion to achieve these goals and strengthen cooperation between member states.

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