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“BRICS key to multipolar world”- Putin
March 22, 2013, 11:33 am

[Getty Images]

President Putin says BRICS will lay down joint approaches to international crises [Getty Images]

Russian President Vladimir Putin has said that “BRICS is a key element of the emerging multipolar world.”

Putin was quoted in an interview to the ITAR-TASS news agency ahead of the March 26-27 BRICS summit in Durban, South Africa.

“There are a number of long-term factors working on BRICS’ success. For the last two decades the economies of Brazil, Russia, India, China and South Africa have been in the lead of global economic growth,” said the president.

In 2012, the average GDP growth rate in the group amounted to 4 per cent, while for the G7 this index was estimated at 0.7 per cent.

In addition, GDP of the BRICS countries derived from the national currency purchasing power parity is currently over 27 per cent of the global GDP and its share continues to increase.

“Our countries do not accept power politics or violation of other countries’ sovereignty. We share approaches to the pressing international issues, including the Syrian crisis, the situation around Iran, and Middle East settlement,” Putin said.

BRICS had contributed $75 billion to the IMF’s Eurozone bailout fund las year.

“BRICS members advocate the creation of a more balanced and just system of global economic relations. The emerging markets are interested in long-term sustainable economic growth worldwide and reforms of the financial and economic architecture to make it more efficient,” the president said.

Russia, Putin asserted, is the initiator of the BRICS format and chair at its first summit in Yekaterinburg in 2009.

The Russian president approved the Concept of the Russian Federation’s Participation in the BRICS group yesterday.

BRICS will lay down joint approaches to international crises, said Putin.

“For the Durban summit, we are working on a joint declaration setting forth our fundamental approaches to pressing international issues, i.e. crisis in Syria, Afghanistan, Iran and the Middle East,” he said.

Putin also denied a possible face-off with Western nations by saying, “We do not view BRICS as a geopolitical competitor to western countries or their organisations.”

Commenting on the ongoing visit of the new Chinese President Xi Jinping to Russia, Putin said: “Today the Russian-Chinese relations are on the rise, they are the best in their centuries-long history.

“President of the People’s Republic of China is currently on a state visit to Russia. The fact that the new Chinese leader makes his first foreign trip to our country confirms the special nature of strategic partnership between Russia and China.”

China is Russia’s largest trading partner – last year Russian-Chinese trade turnover increased by 5.2 per cent to constitute $87.5 billion.

During Putin’s upcoming visit to South Africa, “Russia hoped to give new impetus to our bilateral relations. The adoption of the Declaration on Strategic Partnership between Russia and South Africa is being prepared,” revealed the president.

Russia plans to sign a number of important intergovernmental and interagency documents in Durban including: the declaration on strategic partnership, and agreements on cooperation in the energy sector and agriculture.

With input from agencies

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