On July 12, the Valdai Club hosted an expert discussion timed to coincide with the release of the new Valdai Paper “BRICS+: The Global South Responds to New Challenges (in the Context of China’s BRICS Presidency)”.
The BRICS summit conducted by China this year featured the meeting of BRICS+ leaders from 18 developing economies. The circle of friends of the BRICS is constantly expanding due to the chair countries’ commitments to deepen ties between regional integration associations and the BRICS platform. The BRICS+ Summit became an important milestone in the development of the BRICS and laid the foundations for a regional South-South integration platform. The demand for expanding the interaction of the five with regional associations of developing countries was emphasised during the BRICS+ meeting, said Russian President Vladimir Putin. Furthermore, countries such as Argentina and Iran applied for full-fledged membership raising the possibility of the expansion in the BRICS core.
China proposed the idea of BRICS+ five years ago. From the very beginning, the Valdai Club has taken a leading position among the world’s think tanks in promoting this initiative and its practical content. During the discussion, the participants will present the main theses of the new Valdai Paper, dedicated to the conceptual design of the idea of BRICS + following the results of this year’s BRICS summit.
What are the further ways in which BRICS+ can pursue development? What is the bloc’s priority — expanding the BRICS core or BRICS+? Apart from Argentina and Iran, which countries can become full-fledged BRICS members in the future? Will the BRICS aim for more ambitious goals, such as creating a new reserve currency? Participants of the discussion will answer these and other questions.
Ekaterina Arapova, Director of the Center of Sanction Policy Expertise and Head of the Department of Academic Development at the Institute for International Studies, MGIMO University (co-author of the paper)
Pavel Knyazev, Ambassador-at-Large of the Russian Foreign Ministry, Sous-Sherpa of Russia to BRICS
Philani Mthembu, Executive Director at the Institute for Global Dialogue, South Africa
Nandan Unnikrishnan, Honorary Research Fellow, Observer Research Foundation
Wang Wen, Executive Dean of Chongyang Institute for Financial Studies (RDCY) and Deputy Dean of Silk Road School at China’s Renmin University.