As Chinese President Xi Jinping and a host of other leaders gather in Kazan, Russia, for the 16th BRICS summit, the world is once again turning its limelight on the burgeoning international mechanism for how it will push forward self-development and respond to global woes. A steadfast champion of BRICS cooperation, Xi once compared its five members back then to the five fingers of one hand: They are short and long if extended, but form a powerful fist if clenched…

The New BRICS Development Bank (NDB) is set to launch payments in local currencies to invest in the private sector of the economies of the grouping’s member states, according to a statement by the financial institution’s president Dilma Rousseff. This is reported by Brasil 247, a partner of TV BRICS. The NDB director identified three main areas of focus for the bank in the coming years: sustainable development and technology transfer. The second is the expansion of the bank’s activities in…

The year 2023 marked the 10th anniversary of the Belt and Road Initiative (BRI) and the 10th year since Chinese President Xi Jinping visited Africa in 2013, his first foreign visit after taking office, during which he proposed the principles of sincerity, real results, amity and good faith for China’s Africa policy and the principle of upholding justice while pursuing shared interests. It also marked the opening chapter of China-Africa joint efforts towards modernisation following the 20th National Congress of…

Ethiopia will benefit immensely from formally joining the BRICS co-operation mechanism as the move will lead to increased investment and be a source of increased trade and economic exchanges, according to former Ethiopian President Mulatu Teshome. This is reported by CCTV+, a partner of TV BRICS. At the 15th BRICS summit held in South Africa in August, Ethiopia, as well as Argentina, Egypt, Iran, Saudi Arabia, Iran, Saudi Arabia and the United Arab Emirates (UAE) were invited to join BRICS,…

On the eve of the 15th BRICS Summit in Johannesburg in August, Chinese President Xi Jinping met his South African counterpart, President Cyril Ramaphosa. After the pomp and ceremony at the Union Buildings in Pretoria, the two leaders and their ministers announced a raft of bilateral agreements across many fields.  One of the agreements, signed by South African Minister of Agriculture, Land Reform and Rural Development Thoko Didiza and Chinese Minister of Foreign Affairs Wang Yi, allowed South African farmers…

South African President Cyril Ramaphosa has said that creating a single payment system using the national currencies of the BRICS countries will be on the agenda of the 2024 summit in Kazan, Russia. The head of state remarked while addressing the National Council of Provinces (upper house of parliament) on October `13.  “The BRICS group intends to further expand the use of member states’ national currencies in international trade. Finance ministers and Central Bank governors are now working on the…

BRICS leaders have invited six new members to join the powerful economic alliance of developing nations, marking the rise of the Global South in geopolitics and the world’s new political and financial architecture.  Saudi Arabia, the United Arab Emirates (UAE), Egypt, Ethiopia, Iran and Argentina officially join BRICS in January next year – in a paradigm shift that would rearrange international politics, dent the petro-dollar system and expedite the demise of the United States of America’s (U.S) empire.   The move…

The leaders of the BRICS countries approved the final declaration of the 15th summit of the association, called “Johannesburg-2”, said South African President Cyril Ramaphosa, which paved the way for Argentina, Egypt, Ethiopia, Iran, Saudi Arabia and UAE to join the economic alliance.  The text of the Johannesburg Declaration is published on the official website of the South African Department of International Relations and Cooperation. “As five BRICS countries, we have reached an agreement on the guiding principles, standards, criteria…

BRICS leaders presented a united front at the Johannesburg summit, promising to deliberate on the bloc’s expansion, push for a common currency and reform global governance systems in favour of the Global South. South African President Cyril Ramaphosa, his Chinese counterpart Xi Jinping, Russia’s Vladimir Putin, Indian Prime Minister Narendra Modi and Brazilian leader Lula da Silva vowed to tackle global challenges together without forcing members to choose between BRICS and Western political and economic blocs such as the Group…

South Africa and China have taken their political and economic ties to the next level, signing several trade agreements and agreeing to “consult closely” on issues of common concern within BRICS and other multilateral forums.  Speaking to the media at the Union Buildings during Chinese President Xi Jinping’s state visit on Tuesday, President Cyril Ramaphosa said he and Xi had agreed to adopt a joint approach to global issues of common interest.  This included reforming the United Nations Security Council…