The upcoming summit of the nascent Brazil, Russia, India, China and South Africa (BRICS) bloc, which will take place on China’s island province of Hainan on April 14 and 15, could add political and diplomatic meat to the bones of what has hitherto been a loose economic concept, first coined by an investment banker ten years ago.
Even the decision to open the grouping up to South Africa has been acknowledged as a “political choice”, designed primarily to ensure that Africa’s voice is represented in what could eventually evolve into a powerful new developing-economy platform.
This political dimension was emphasised by all the participants at a pre-summit briefing, which was hosted in Johannesburg on Monday.
Brazilian ambassador Jose Vicente De Sa Pimentel said that the summit would seek to give “political” organisation to the concept, coined by Goldman Sachs’ Jim O'Neill in 2001.
China’s chargé d’affaires Weiqing Chen added that South Africa’s inclusion would make the bloc “even more representative”, while Russian ambassador Anatolievich Makarov argued the enlargement signalled the grouping’s “growing potential” and “increased relevance internationally”, particularly on matters being raised at the G20.
The summit precedes the G20 meeting, which is scheduled in for Cannes, France, in November. Therefore, the five emerging giants could well exchange views on issues that may be raised at Cannes in a bid to influence the global response on issues such as commodity price fluctuations, currency wars and developments in North Africa and the Middle East.
South Africa’s International Relations and Cooperation Minister Maite Nkoana-Mashabane also hinted at bolstering BRICS’ diplomatic influence on issues ranging from UN Security Council enlargement and reform to ensuring that emerging markets played a bigger role in shaping the international agenda, from trade to the environment.
The integration of this international relations dimension also arguably provides the context for South Africa’s inclusion in BRICS, notwithstanding its relatively puny economic position and population size.
Nkoana-Mashabane argues that South Africa’s inclusion was appropriate, owing to the fact that it is the largest and most diverse economy on the continent.
But together with the other speakers she acknowledged that its inclusion was premised on offering Africa, rather than South Africa, a “voice” in shaping the agenda of an emerging-market club.
De Sa Pimentel dismissed suggestions that it was unfair to expect South Africa to play such a role for its continent, adding that none of the other countries in the BRICS were “just for themselves”.
“The fact is they [the BRICS countries] represent things beyond narrow national and commercial interests, which is why the grouping is becoming so important,” he told Engineering News Online, stressing that it was not some form of new cartel.
He argues that it could emerge as the nucleus for understanding of the emerging world’s needs and interests, as well as promoting those interests.
“It’s a diplomatic initiative,” De Sa Pimentel elaborated, adding that it was also still a “work in progress”, with minimum consensus still outstanding on a range of matters.
“So, it’s not about merely opening up our markets,” he added, while acknowledging that economic questions will still probably dominate the agenda in Hainan.
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