Brics bloc is gaining momentum internationally

THE BRICS bloc grouping Brazil, Russia, India, China and South Africa has gained certain momentum in its co-operation and growth, seeing its influence increase at both the regional and international levels, an Indian expert has said. “In the last eight (annual) summits, Brics has acquired certain momentum in international relations,” said Srikanth Kondapalli, professor at the Center for East Asia Studies of the New Delhi-based Jawaharlal Nehru University. “It has advocated dialogue and peaceful resolution of disputes, in addition to lifting any curbs on trade and investments,” he said on Sunday. As the bloc’s five emerging economies “are getting integrated in the global economy, it has advocated a certain balance in dealing with the Western countries and the institutions such as the IMF (International Monetary Fund)/World Bank or universally accepted norms,” the Indian expert added. “It tries to protect the interests of developing countries,” he noted. Macroeconomic stability, institutional effectiveness and openness are among the factors that enable the bloc to attract global attention and to play a larger role in global governance and growth, according to the expert. “Formation of Brics and the regular summit meetings and the pronouncements so far have provided scope for expanding its influence at the global and regional levels,” Kondapalli noted. – Xinhua