BRICS/Meanwhile, BRICS is Alive and Well

19.11.2019, NEO New Eastern Outlook (Russia) https://journal-neo.org/2019/11/19/meanwhile-brics-is-alive-and-well/ 

Vladimir Platov*

There’s been no shortage of interest towards the recently concluded ninth BRICS summit in Brazil. This association brings together a total of five countries, with its name being an acronym coined to represent the combined economies of Brazil, Russia, India, China and South Africa. This block represents 23% of the world’s economic output and some 18% of world trade, with a combined GDP of a mind-boggling 15.435 trillion dollars. However, what is even more important, some may argue, is that it represents 42% of the world’s population.

This year’s summit was held under the motto “Stronger Partnership for a Brighter Future.” This motto pretty much pre-determined heated discussions on the most urgent challenges the international community faces – instability, regional insecurity, the state of the world economy, the state of affairs in trade and finance.

In addition to opening speeches by the leaders of each member state, there was

BRICS, Russia/Vladimir Putin’s news conference following the G20 summit

June 29, 2019, 10:50, President of Russia http://en.kremlin.ru/events/president/news (Russia) http://en.kremlin.ru/events/president/news/60857

Following the G20 summit, the President of Russia answered journalists’ questions.

Osaka, Japan

President of Russia Vladimir Putin: Good afternoon. Let us begin. Go ahead, please.

Question: Good afternoon, Mr President. We would like to ask, since I am the first to ask a question, about your personal results of the summit. There was a lot of scepticism prior to it, coming both from other leaders and expressed by you, concerning the possible results of the summit. Was the scepticism justified? What are the outcomes for world trade and the global economy?

And the second question, if I may: what were Russia’s objectives here at the G20, and were the results achieved?

Vladimir Putin: There was certain scepticism, it is true, and not from me alone. Yet on the whole the G20 summit has proved its relevance, we have to admit that, and it was effective in all the major areas of work. The result has been achieved. I think we can congratulate the Japanese presidency on that. Japan did a lot for the summit’s success, and its efforts paid off.

I would like to single out four major fields where the needed agreements have been reached. It is true that there were no breakthrough decisions. However, all the participants reconfirmed their commitment to continue efforts to improve the global trade system, including work to reform the WTO. The very fact that everyone confirmed the need for the process and reaffirmed their readiness to work along the lines is a positive development in itself.

Positions have been coordinated, except for the United States, which always has a special opinion. In fact, the US