BRICS should create new global management system: Putin

Calling for an end to the era of single ‘pole’ based global management, Russian President Vladimir Putin has called upon the BRICS countries to step up its role to a new level and establish predictability and sustainability in international relations.

President Vladimir Putin has travelled to Fortaleza, Brazil, along with the leaders from India, South Africa, and China to take part in the sixth BRICS summit on July 15-16. The summit is expected to take a slew of important decisions, including concretising the idea of a BRICS Bank, creating a BRICS pool of foreign currency reserves, and spurring reforms of global governance architecture.

Speaking to ITAR-Tass, the Russian president was optimistic about the BRICS’ position in contemporary global politics, and added that it provided BRICS an opportune moment to enhance its role and make itself “an inalienable part if the global management system for sustainable development.”
“The modern world is indeed multipolar, complex, and dynamic-this is objective reality. Any attempts to create a model of international relations where all decision are made within a single ‘pole’ are ineffective, malfunction regularly, and are ultimately set to fail,” said Putin.

Given the economic rationale behind the origin of BRICS, this group of five emerging powers has tried to focus its energy on economic collaboration rather than political manoeuvring. Yet increasingly, the BRICS countries have shown matured understanding towards each other’s political sensitivities.

When the US imposed unilateral sanctions against Russia over Ukraine, it was the BRICS countries that stood by Moscow and criticised the Western sanctions — a gesture of solidarity that has not gone unacknowledged in Russia.

Pointing the finger squarely at the Washington and its allies for harassing countries which refuse to play by the rules set by the west, Putin called upon the BRICS to work together and prevent the hijacking of the global agenda by those countries.

While Putin stressed that there were no plans to form a military and political alliance among the BRICS, he underlined that that the BRICS countries intended to strengthen the political element of their cooperation.

The possibility of cooperation is wide-ranging, he added. He identified a host of areas for increased intra-BRICS cooperation, including strengthening international information security; coordination over issues of regional security, especially concerning Syria and Ukraine; IMF reform, improving the rule of international law, and expanding the UN’s leading role in the international system.

“Cooperation in setting rules of responsible behaviour is the global information space is an important issue. Such rules must be based on the principles of respect for a country’s sovereignty, non-interference in domestic affairs, observance of human rights and freedom, as well as equal rights for all countries to participate in internet management.”

Putin was also optimistic about several measures taken by the BRICS countries to increase trade and economic ties within the association. He said: “It is in our common interest to use the omplementarily of national economies to the maximum.”

Given the economic instability and slowdown, many experts feared that the volume of trade between BRICS countries would face stagnation, yet the volume of trade increased in 2013 and crossed the $300 billion mark.

Raising the bar for the BRICS process, the Russian president has highlighted the possible trajectories for this one-of-a- kind grouping. His call for reforming the global management system has been passionately echoed by many developing countries. It is now up to the leaders at Fortaleza to make most of this opportunity.

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