BEIJING, Oct. 26, 2024 /PRNewswire/ – Practical cooperation has always been the foundation of the BRICS mechanism, of which the establishment of the New Development Bank (NDB) is a good example.
The Shanghai-based NDB was founded jointly by Brazil, Russia, India, China and South Africa in 2014 to mobilize resources for infrastructure and sustainable development projects in BRICS member states and other emerging and developing countries.
By approving more than 100 projects in all member countries worth approximately $35 billion by the end of 2023, the NDB has ensured the economic development of BRICS member countries and contributed to the improvement and development of the global economic governance system.
“The collective rise of the Global South is a characteristic feature of the world’s great transformation,” Chinese President Xi Jinping said during the BRICS Plus leadership dialogue in Kazan, Russia, on Thursday.
He called on the countries of the Global South to harness their collective wisdom and strength and embrace their responsibility to build a community with a shared future for humanity.
Striving for common security, exchange between civilizations
BRICS-Plus countries should be a stabilizing force for peace, strengthen global security governance and find ways to address both the symptoms and causes of trouble spots, Xi said.
In connection with the Ukraine crisis, China has repeatedly sent special envoys to create the conditions for ceasefire talks as part of shuttle diplomacy. Since the end of July, Li Hui, a special representative of the Chinese government for Eurasian affairs, has visited Brazil, South Africa and Indonesia – important members of the Global South.
China and Brazil have also jointly adopted a six-point consensus and launched the “Friends for Peace” group to address the crisis together with other countries in the global south.
Meanwhile, the Palestinian factions, brokered by China, reconciled in Beijing in July, marking an important step toward peace in the Middle East.
Xi urged early de-escalation to pave the way for a political solution to the Ukraine crisis and called for a comprehensive ceasefire in Gaza and a revival of the two-state solution.
People-to-people and cultural exchanges between BRICS countries have been in full swing in recent years, with events such as film festivals, sports games and documentaries building bridges that connect people.
At the end of September, the BRICS Civilization Dialogue took place in Kazan, which called for actively implementing the Global Civilization Initiative and using BRICS Plus cooperation as a platform for the continuous deepening of cultural exchange.
Xi pointed out that the diversity of civilizations is an innate quality of the world, and called for promoting exchanges among civilizations and improving communication and dialogue to promote the development of all civilizations and seek harmony among them to strive for them.
Prosperity through development
Given the changing development needs of the BRICS countries, Xi proposed the BRICS Plus program at the 2017 summit in the Chinese coastal city of Xiamen, which envisages greater participation from other emerging and developing countries.
“Under the new circumstances, it is even more important for BRICS countries to pursue development with open doors and promote cooperation with open arms,” Xi said at the 14th BRICS Summit in 2022.
As one of the world’s major economies, China has supported other developing countries in their economic and social development and plays an important role in the BRICS cooperation mechanism.
Since its launch three years ago, the Global Development Initiative has helped deliver nearly $20 billion in development funding and launched more than 1,100 projects.
China has announced the upgrading of the South-South Cooperation Fund to a Global Development and South-South Cooperation Fund and increasing its total funding to $4 billion, which has already supported more than 150 projects. In addition, a competence center of the Global Alliance on Artificial Intelligence for Industry and Manufacturing was set up in Shanghai.
The Global South arises for development and prospers through development, Xi said, calling on BRICS-Plus countries to make themselves the main driving force for common development.
He added that China will also build a World Smart Customs Community Portal and a BRICS Customs Center of Excellence to enable the active participation of all countries.
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