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    US, EU Concerned by BRICS Becoming ‘Serious Factor’ in Global Politics – Russia’s EU Envoy

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    The BRICS group of emerging economies is becoming a “serious factor” in global politics and the European Union and the United States are concerned about it, Russia’s envoy to the EU Vladimir Chizhov said Friday.

    MOSCOW, August 1 (RIA Novosti) - The BRICS group of emerging economies is becoming a “serious factor” in global politics and the European Union and the United States are concerned about it, Russia’s envoy to the EU Vladimir Chizhov said Friday.

    “The emergence of such intercontinental entity of five states, which includes one quarter of the global population, is a serious factor that cannot but bring about certain concerns in the European Union, the United States and other traditional centers of global influence,” Chizhov said.

    The group, comprised of Brazil, Russia, India, China and South Africa, has adopted a declaration that sets out the nations’ common goals on the global arena, seeking a unified approach to international affairs. The BRICS are also seeking cooperation in other sectors.

    In July, during a BRICS summit the members of the group signed a deal on the establishment of the New Development Bank (NDB) and the Contingency Reserve Agreement (CRA), which are intended to help emerging economies borrow funds for infrastructure projects.

    The BRICS have already demonstrated that they seem to be on the same page politically, with the leaders of the five countries calling on the conflicting sides in Ukraine to de-escalate the situation and seek a peaceful resolution to the existing issues.

    Tags:
    Contingency Reserve Agreement, economy, New Development Bank, European Union, BRICS, Vladimir Chizhov, South Africa, Brazil
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