President Cyril Ramaphosa has called on BRICS countries to strengthen their partnership to peacefully resolve conflicts around the world. He says the focus has been shifted from global issues like climate change and diseases around the world.
Addressing the opening of the BRICS forum, Ramaphosa says sanctions on certain countries have negatively affected the global economy.
China is hosting the summit virtually. It has been held as the global economy is on the brink of recession, energy prices have gone up and basic commodities are expensive.
Ramaphosa says this meeting must come up with actions that will enhance member states’ economies.
“As BRICS, we will continue our constructive engagement with the World Trade Organisation to foster inclusivity industrialisation and development. We must oppose attempts to shape global economies through unilateral sanctions and other coercive measures.”
Kremlin to boost trade with member nations
Chinese President Xi Jinping says developed countries should adopt responsible economic policies and avoid negative spillovers that may affect the developing world.
Xi addressed the BRICS business forum ahead of the official start of the growing economies gathering.
The BRICS Summit is taking place as one of its members Russia has been slapped with sanctions by the West for invading Ukraine.
Xi says to politicise the global economy and turn it into one’s tool or weapon and willfully imposing sanctions by one’s primary position in the international financial systems will hurt one’s interest and inflict suffering on everyone.
Russian President Vladimir Putin says the Kremlin will boost its trade with BRICS members like China, India, Brazil, and South Africa. Meanwhile, South Africa is looking forward to deepening cooperation with BRICS members.