26 February 2014, 16:21

BRICS is priority for Russian foreign policy and way to shape multipolar world - Russia's diplomat

BRICS is priority for Russian foreign policy and way to shape multipolar world - Russia's diplomat

The consolidated position of the BRICS has prevented a foreign military intervention in Syria and escalation of events in the Libyan scenario. This came as a statement by Russia's Ministry of Foreign Affairs Ambassador-at-large Vadim Lukov. Speaking before Russian senators at a meeting devoted to the upcoming chairmanship of Russia in the BRICS in 2015, the diplomat has noted that Moscow considered the Alliance of Brazil, Russia, India, China and South Africa to be one of the key directions of its foreign policy.

Almost 13 years of the BRICS's existence have shown that this is an influential international association, which represents 42 percent of the world population and about a quarter of the world economy. Today, we can assuredly say that this is an alliance of like-minded people, Vadim Lukov notes.

"We are like-minded in regards to supporting the principles of international law, the central role of the UN Security Council and the principles of non-use of force in international relations. This is why we are so actively performing in the sphere of settling regional conflicts. Frankly speaking, without the BRICS position, Syria would have long ago turned into Libya. We adhere to the same positions in the field of nonproliferation of weapons of mass destruction, the fight against international terrorism, as well as combating cybercrime that has recently become very important, including on the part of states. In this regard, I'd like to note that the BRICS is becoming an object of increased attention of the intelligence services of other states. And we feel it. Russia considers the BRICS as one of the key directions of our foreign policy and at the same time as a generator in shaping the future multipolar world," he said. 

An exceptional factor that unites Brazil, Russia, India, China and South Africa is their desire to use the complementarity of national economies to accelerate the development of the countries of the Alliance. Today, in total, there are more than 20 formats of cooperation within the BRICS, Vadim Lukov says.

"The scientific and technical group has come to an agreement about 11 prospective directions of cooperation, from aeronautics to bio- and nanotechnology, and joint research groups are already being created. The main task now is to develop economic cooperation. I'd like to note that the BRICS Stock Alliance has already been created. This is an agreement of five countries on cross-listing of almost 8 thousand companies with market capitalization of more than 8 trillion dollars. The launch of the Russian part of this platform was held last June."

The participants of the BRICS aim to modernize the global economic system, at the center of which stand the United States and the European Union. With this purpose, the leaders of Brazil, Russia, India, China and South Africa are creating their own Development Bank to finance large infrastructure projects. The volume of authorized capital and the principle of decision making are already agreed upon. Negotiations about the distribution of quotas between the participants and the location of the headquarters of the future financial body of the alliance are under way now, Deputy Finance Minister of Russia Sergei Storchak says.

"We've agreed that the capital of the bank will amount to 100 billion dollars. The BRICS countries have not yet agreed on the principles of the countries' participation in the bank's capital. There are two points of view: parity participation (when each country receives 20 percent), or participation on the principle of the economic weight of the states (the economically stronger power receives more shares and invests more money into the bank's capital). Russia supports the parity participation when each country invests 20 percent. The countries have also identified the issues, decisions on which can be taken only by consensus. In particular, this includes changing the Charter of the bank and admission of new members," he said.

At the same time, the issue of the enlargement of the BRICS, including the admission of new members, is not on the agenda of the Alliance so far. Now, there is a moratorium even on discussing it at the association. The reason is that, firstly, it is necessary to become stronger organizationally and debug all cooperation mechanisms. After that it will be possible to talk about expansion, representative of the Russian Foreign Ministry, coordinator for the BRICS affairs, Vadim Lukov says.

Today, "there is a queue of countries wishing to join the alliance," said the diplomat, adding that there are countries with different levels of economic development - from developing countries to solid economic powers.

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