The ongoing war between Russia and Ukraine, cooperation in the fight against terrorism, trade, food and energy security and the global economy will be at the top of the agenda of the 14e BRICS summit on Thursday. The expansion of BRICS is another issue that will be discussed at the Summit. China is keen to expand the BRICS and Russia supports the Chinese initiative to include new members in the grouping.
“The situation in Ukraine and the global COVID-19 pandemic have both brought the global economy closer to a crisis. The supply chain disruption has put inflationary pressure on the global economy. The supply of two basic products – energy and food grains – is threatened. Many experts predict that the global economy could experience a recession in the coming months. Therefore, the main objective of the BRICS would be to repair the supply chain and restore trade and commerce to the extent possible,” believes Professor Rajan Kumar, School of International Studies, JNU.
Agenda as announced by the Ministry of Foreign Affairs
According to the Ministry of External Affairs (MEA), at the invitation of Chinese President Xi Jinping, Prime Minister Narendra Modi will attend the summit virtually on June 23-24.
This year, the BRICS summit is hosted by China via a virtual format and on June 24, there will be a high-level dialogue on global development with invited countries.
BRICS member countries will also discuss issues such as reform of the multilateral system, agriculture, technology, combating the COVID-19 pandemic, S&T and innovation, health, medicine, among others. traditional education, environment, vocational education and training and MSMEs.
Prior to the summit, the Prime Minister participated, through a recorded keynote address, in the opening ceremony of the BRICS Business Forum on Wednesday, June 22, 2022.
The BRICS have become an important forum for India to engage with non-Western countries. It accredits its policy of multi-engagement where it engages with all the powers concerned by its national interests.
Why the 14e Does the BRICS summit matter?
Sharing his views with Financial Express Online, Professor Rajan said: “The 2022 BRICS summit will address three main global governance concerns: a) the looming global economic crisis, b) the pitfalls of the ongoing war in Ukraine and c) the expansion of BRICS.
Will the Ukraine issue have an impact on the BRICS?
According to him, “the crisis in Ukraine has created a strange dilemma for the BRICS states. The BRICS states have avoided condemning Russia, but they are not happy with the economic pitfalls of this crisis. The economic crisis can have a devastating impact on their stability. They want a quick resolution to the crisis. They will push for a quick, negotiated settlement. But the role of the BRICS is limited because neither Ukraine nor the West are represented there.
Expansion of the BRICS
“Other members, while not rejecting the idea of expansion on principle, are more cautious and reserved in their approaches. New Delhi has not yet spelled out the terms under which it would support the entry of a new member. A consensus on the procedure would be necessary to facilitate the entry of new members. Argentina, Egypt, Indonesia, Kazakhstan, Nigeria, Saudi Arabia and Mexico are seen as potential BRICS candidates,” he adds.
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