Exploring BRICS' role in addressing global challenges and fostering dialogue
Image: Oupa Mokoena / Independent Newspapers
The role of BRICS in the world has been hailed as a positive force driving dialogue and creating strategic conditions for development, rather than opposing any particular nation, including the US.
This message was delivered at the Russia-Africa conference, co-hosted by the Valdai Discussion Club and the South African Institute of International Affairs in Pretoria.
The conference, titled 'Realpolitik Responses in a Fractured World: Rethinking Russia-South Africa Ties in Global and African Context', brought together top government officials and academics to share their perspectives on 'G20 and BRICS: Assessing Strategic Roles in an Evolving Global Order'.
Dmitry Birichevsky, director of the Department of Economic Cooperation at the Russian Ministry of Foreign Affairs, noted that the BRICS leadership cycle in the G20 has coincided with a strengthening of its economic positions.
Video Player is loading.
Play Video
Play
Unmute
Current Time
0:00
/
Duration
-:-
Loaded :
0%
Stream Type LIVE
Seek to live, currently behind live
LIVE
Remaining Time
-
0:00
This is a modal window.
Beginning of dialog window. Escape will cancel and close the window.
Text Color White Black Red Green Blue Yellow Magenta Cyan
Transparency Opaque Semi-Transparent Background Color Black White Red Green Blue Yellow Magenta Cyan
Transparency Opaque Semi-Transparent Transparent Window Color Black White Red Green Blue Yellow Magenta Cyan
Transparency Transparent Semi-Transparent Opaque
Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Dropshadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps
Reset
restore all settings to the default values Done
Close Modal Dialog
End of dialog window.
Advertisement
Video Player is loading.
Play Video
Play
Unmute
Current Time
0:00
/
Duration
-:-
Loaded :
0%
Stream Type LIVE
Seek to live, currently behind live
LIVE
Remaining Time
-
0:00
This is a modal window.
Beginning of dialog window. Escape will cancel and close the window.
Text Color White Black Red Green Blue Yellow Magenta Cyan
Transparency Opaque Semi-Transparent Background Color Black White Red Green Blue Yellow Magenta Cyan
Transparency Opaque Semi-Transparent Transparent Window Color Black White Red Green Blue Yellow Magenta Cyan
Transparency Transparent Semi-Transparent Opaque
Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Dropshadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps
Reset
restore all settings to the default values Done
Close Modal Dialog
End of dialog window.
Next
Stay
Close ✕
'The mounting influence of BRICS has asserted itself as a centre for growth, innovation and one of the main pillars of a new and more just world order,' he said.
He added that BRICS' principles of consensus, equality, and mutual consideration of each other's interests resonate with the growing number of countries in the Global South.
Key issues on the BRICS agenda include making economic governance more democratic and bridging the digital and ecological divide between the Global North and the Global South.
Birichevsky reiterated Russia's support for the South African presidency, saying it has predictably placed G20 emphasis on the African agenda amid the alarming development in the global economy.
Philani Mthembu, executive director of the Institute for Global Dialogue, noted that the recent presidencies of BRICS and G20 have coincided with a rapidly shifting geopolitical landscape, which has heightened the focus on these forums.
He stressed that the low level of participation or absence of the US should not be the only thing on their radar.
'The participation of the US will not make or break South Africa's G20 presidency. The US must be seen in a broader context where the US is pursuing what it views as America first,' he said.
Mthembu added that BRICS should aim to reform international institutions from within while also applying external pressure.
Elena Maslova, associate professor at MGIMO University's Department of Integration Studies, recommended that BRICS delve into issues such as climate change.
Image: Oupa Mokoena / Independent Newspapers
Elena Maslova, associate professor at MGIMO University's Department of Integration Studies, suggested that BRICS should explore topics such as climate change, highlighting the declaration on climate finance as a significant step forward.
'BRICS is gradually becoming a key platform for climate dialogue as well. BRICS should strive to create its single space for climate finance implementation to make it possible to reduce emissions,' she said.
Maslova emphasised that BRICS is not a confrontational tool, but rather a valuable platform for tackling global challenges.
Nourhan ElSheikh, professor of International Relations at Cairo University, stated that the Global South's influence has surged over the past decade, largely due to BRICS and G20, which are driving forces behind the emerging new world order.
'The Global South matters a lot not only for competition among colonial powers but also as a global player in international politics,' she said.
ElSheikh remarked that the Global South has matured to the point where it can identify its own interests, rather than automatically aligning with the US, which is still trying to maintain its global dominance.
'Now we have the Global South saying 'no' and that this is not in our favour or interest and we have the right to choose our way,' she said.
Cape Times
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
The Citizen
3 hours ago
- The Citizen
24 hours in pictures, 1 August 2025
24 hours in pictures, 1 August 2025 Through the lens: The Citizen's Picture Editors select the best news photographs from South Africa and around the world. Congress activists burn an effigy of US President Donald Trump and Indian Prime Minister Narendra Modi as they protest against the Indo-US trade deal, after the former imposed 25 percent tariffs on Indian goods, during a demonstration in Kolkata on August 1, 2025. President Trump labelled Russia and US ally India 'dead economies,' indicating that his threat to ramp up tariffs on New Delhi will now go ahead. India will face 25 percent tariffs while also announcing an unspecified 'penalty' over New Delhi's purchases of Russian weapons and energy. (Photo by Dibyangshu SARKAR / AFP) Participants attend the launch of Ghana's Affirmative Action (Gender Equality) Act at the Accra International Conference Centre, in Accra, Ghana, 31 July 2025. 31 July marks the official launch of Ghana's Affirmative Action Act which was passed a year ago by Ghana's Parliament. Ghana's Affirmative Action (Gender Equality) Act, 2024, mandates a minimum of 30 percent women's representation across public institutions, increasing to 50 percent by 2030. It also introduces penalties for non-compliance, tax incentives for private sector adherence, and applies to political parties, trade unions, the judiciary, and public agencies. Picture: EPA/FRANK KPORFOR Cowboy boots are seen at the Rio of Mercedes cowboy boot factory, on July 31, 2025, in Mercedes, Texas. In an unusual consequence of Donald Trump's tariffs, cowboy boots 'made in the USA' will suffer from the 30% tariff due to come into force on August 1 targeting South Africa, which produces the overwhelming majority of the ostrich leather so prized for these boots. (Photo by RONALDO SCHEMIDT / AFP) (L-R) Silver medallist South Africa's swimmer Pieter Coetze, gold medallist Hungary's swimmer Hubert Kos and bronze medallist France's swimmer Yohann Ndoye-Brouard celebrate on the podium of the men's 200m backstroke swimming event during the 2025 World Aquatics Championships in Singapore on August 1, 2025. (Photo by MANAN VATSYAYANA / AFP) This handout photo taken over Gaza and released on August 1, 2025 by the Spanish Ministry of Defence shows the release of humanitarian aid from a Spanish Air Force Airbus A400M Atlas airplane over Gaza. (Photo by HANDOUT / Spain Defence Ministry / AFP) Festival-goers attend the first day of the Pol'and'Rock Festival in Czaplinek, north-western Poland, 31 July 2025. The festival will run until 02 August. Picture: EPA/JERZY MUSZYNSKI A fisherman smokes a beedi, a hand-rolled cigarette, as he rests inside his boat on the banks of the Yamuna River in New Delhi on August 1, 2025. (Photo by Arun SANKAR / AFP) Hot air balloons are prepared to participate during the celebration of the XXV International Hot Air Balloon Regatta 'Haro, capital of Rioja' and the XLI Spanish Aerostation Championship, in Haro, La Rioja, Spain, 31 July 2025. The events take place from 30 July to 03 August. Picture: EPA/RAQUEL MANZANARES Members of the Gumatj clan of the Yolngu people from north-eastern Arnhem Land perform the Bunggul traditional dance during the 25th annual Garma Festival in Gulkula, Northern Territory, Australia, 01 August 2025. Garma Festival, Australia's most significant Indigenous cultural gathering, is held each year on Yolu Country in northeast Arnhem Land, uniting ceremony, community, and national dialogue as it celebrates a significant 25-year milestone in 2025. Picture: EPA/JAMES ROSS Soldiers of the Croatian Armed Forces take part in a military parade in Zagreb, Croatia, 31 July 2025. Croatia marked the 30th anniversary of Operation Storm, the last major battle of the Croatian War of Independence in August 1995, with a military parade featuring more than 3,500 soldiers and several hundred military vehicles. Picture: EPA/ANTONIO BAT A cosplayer in the character of Zhuge Liang of a video game poses during ChinaJoy, known as China Digital Entertainment Expo and Conference, at the Shanghai New International Expo Centre in Shanghai on August 1, 2025. (Photo by Hector RETAMAL / AFP) MORE: 24 hours in pictures, 31 July 2025
The Citizen
3 hours ago
- The Citizen
Weekly economic wrap: all about the tariffs
The week had good and bad news for South Africans with a 25 basis point cut in the repo rate but a US tariff of 30%. It was a busy economic week, but everybody agrees that everything else was overshadowed by the latest US tariff announcement from the White House, which slapped a 30% tariff on South Africa that will apply from 7 August. Tracey-Lee Solomon, an economist at the Bureau for Economic Research (BER), says the unanimous decision of the Monetary Policy Committee (MPC) of the South African Reserve Bank (Sarb) to cut the repo rate by 25 basis points to 7%, bringing the prime rate to 10.5%, was also important. Then the White House announced its sweeping new trade policy in the early hours of Friday morning, with a tariff of 30% for South Africa. This had an immediate effect on commodity prices and the rand. Solomon says Brent crude traded above $73 a barrel after President Donald Trump threatened to impose tariffs on Indian exports and penalties for its Russian oil purchases, she says. 'Trump also warned of tariffs on Moscow unless a swift truce in Ukraine is reached, potentially triggering secondary sanctions on buyers of Russian crude. This move would likely result in more demand for non-Russian crude, lifting prices.' 'The rand weakened by 2.8% against the US dollar, weighed down by broad dollar strength and South Africa's failure to secure a more favourable trade deal with the US, which likely added to negative sentiment.' ALSO READ: US tariff of 30%: Rand weakest in 3 months, thousands of jobs in danger US Fed, in middle of US tariff chaos, did not change repo rate Bianca Botes, director at Citadel Global, says at the centre of the chaos stood the US Federal Reserve, which held rates unchanged at 4.25% to 4.5%. 'The South African Reserve Bank (Sarb) delivered a 25 basis point cut. This was not a bold or symbolic move by the Sarb; just necessary.' She also noted that gold prices consolidated near $3,292/ounce, ending the week 2% softer after the stellar dollar run although support persisted for gold as a defensive asset, despite the selloff this week, as central banks and safe haven seekers continue to find security in its glimmer. 'Brent crude remained above $71/barrel, supported by anticipation of new trade agreements and supply constraints, including tightening conditions in the diesel market. Risks from potential new tariffs and weak consumer data in some major economies capped stronger gains.' Busisiwe Nkonki and Isaac Matshego, economists at the Nedbank Group Economic Unit, also believe the rand came under renewed pressure after the US tariff announcement that he would impose a further 10% import tariff on the Brics countries and any other economy aligned with the grouping. ALSO READ: Repo rate cut not a surprise but very welcome Reserve Bank lowers repo rate to 7% as expected Damian Maart, an economist at the BER, says, as expected, the MPC decided to lower the repo rate by 25 basis points in a unanimous decision that brings the repo rate to 7% and the prime rate to 10.5%. 'A key takeaway from the MPC press conference was the announcement that future MPC decisions would be anchored around the lower bound of the 3-6% target band. Sarb governor Lesetja Kganyago noted that this was not an official change in the target, as it would mandate approval from the National Treasury. 'June consumer inflation was in line with the preferred rate, but the Sarb expects inflation to pick up over the next few months. Looking ahead, the Sarb's Quarterly Projection Model based on the newly adopted 3% target suggests five more cuts over the medium term, although the MPC is not beholden to the 3% inflation target. Nkonki and Matshego say ultimately the interest rate path will depend on how quickly the Sarb can calibrate inflation expectations and price setting throughout the economy around the lower target. Mamello Matikinca-Ngwenya, Siphamandla Mkhwanazi, Thanda Sithole, and Koketso Mano, economists at FNB, say the MPC statement had few surprises. 'This repo rate cut highlighted the MPC's ability to focus on local dynamics given the limited impact of global volatility on the rand and, by extension, monetary policy.' ALSO READ: Good news for GDP: Manufacturing PMI reaches above 50 points, but employment levels still weak Producer price picked up in June According to Statistics SA, the producer price index (PPI) increased by 0.6% in June, up from 0.1% in May. The uptick was primarily driven by higher producer prices for food, beverages, and tobacco products, which increased by 4% and contributed 1.2 percentage points to overall producer inflation. In contrast, prices for coke, petroleum, chemical, rubber and plastic products declined by 4.7%, subtracting 1%. On a monthly basis, PPI rose by 0.2% in June. Nkonki and Matshego say the PPI outcome was slightly lower than their forecast of 0.8% but aligned with the market's expectations. 'The main driver of the rise was the 'food, beverages and tobacco products category, which rose by 4% with upward pressure coming from meat prices. Elsewhere, price pressures remained relatively subdued or fell further.' Matikinca-Ngwenya, Mkhwanazi, Sithole and Mano say they expect producer inflation to gradually rise in the second half of 2025 but remain benign, averaging around 1.2% this year.
Mail & Guardian
4 hours ago
- Mail & Guardian
Ramaphosa says talks with US on tariffs ongoing as measures are delayed for seven days
President Cyril @CyrilRamaphosa/X President Cyril Ramaphosa has expressed concern over the 30% tariff imposed by the US on South African exports, despite a seven-day reprieve from implementation of the measure which had been set to kick in on Friday. South Africa is among several countries facing punitive tariffs from the US as it moves to protect its own manufacturers and labour force. On Friday, Ramaphosa said his government was finalising a package to support companies that are vulnerable to the reciprocal tariffs, adding that the details would be announced 'in due course'. He said Pretoria had submitted a framework deal to Washington in an effort to strengthen 'mutually beneficial trade and investment ties'. 'South Africa and US trade relations are complementary in nature and South African exports do not pose a threat to US industry. Importantly, SA exports to the US contain inputs from the African continent and contribute to intra-Africa trade,' he said. Ramaphosa said his government would pursue all diplomatic avenues to safeguard the country's national interests. 'It is important that, as a country, we keep our people at work and our companies producing some of the high-quality products destined for many parts of the world.' Trump's administration claims that a lack of reciprocity in trade relations has eroded the US's manufacturing base, disrupted supply chains and weakened its defence industrial base. Earlier this week, Department of Trade, Industry and Competition said South Africa It has set up an export support desk as part of a diversification strategy 'to create resilience' in the economy. The desk is collaborating with export councils, industry associations and major exporters to the US to assist in accessing alternative markets. 'We also want to reiterate that we have no intention of decoupling from the United States either. Our view is that negotiations remain the best tool to deal with the issues that are on the table,' it said. Pretoria is still waiting for a response from Washington on its proposed framework deal, which includes substantial trade and investment incentives. These include the import of between 750 and Other elements include the import of US blueberries and a commitment by South Africa to invest $3.3 billion in US industries such as mining, metals recycling, critical minerals, pharmaceuticals and The deal includes exemptions from reciprocal tariffs in key sectors, including shipbuilding, counter-seasonal agriculture and exports by micro, small and medium enterprises with annual exports of less than $1 million. The trade department said it had been in 'intense negotiations' with the US and had signed a condition precedent document, with inputs ready for inclusion in a template expected from Washington. 'Despite the challenges that have been presented by this period, we have put our best foot forward, bringing together the subject specialists within our ranks that have dug deep to ensure that our country is adequately prepared for a number of potential scenarios,' it said.
