BRIC to work together to be more effective internationally

Ahead of their summit in Russia next month, the four nation group, BRIC —Brazil, Russia, India and China —today pledged to work together to be heard more effectively in international forum.      

Admitting that all four economies were dynamic and have differences, the group, however, agreed to make more efforts to add value to their partnership and make their collective voice more coherent and influential on the important international issues in the present global scenario.      

"As the global economy evolves and works its way through the present global financial and economic crisis, BRIC are a factor of stability and growth. This was already evident in our role during the G-20 deliberations," Foreign Secretary Shivshankar Menon said while inaugurating the 'Pre-BRIC Summit Preparatory Meeting' here.      

Asserting that the world was on the cusp of a new type of multi-polarity, he said, "What we see is a situation where the major powers simultaneously compete and cooperate with each other, each with all the others, to a greater or lesser degree."      

Chinese Ambassador to India Zhang Yan, Deputy Chief of Mission of Brazil to India Jose Carlos Fonseca Jr were also present at the inauguration. Russian Ambassador to India V I Trubnikov, scheduled to attend the meet, was not present at the function.      

"BRIC is a platform for four countries to build consensus and achieve win-win situation. Like any countries, four countries may have differences in their focus, objectives and even interests on various issues," Yan said.

"But interaction within the framework of BRIC can provide the four countries with opportunities to coordinate and cooperate with each other to build synergy between them," Yan added.      

Describing BRIC as "guardian of the interests of developing countries", the Chinese Ambassador said, "as a grouping of the newly emerging economics, four countries share a lot in common with other developing countries. We should work for the common good of the developing countries..."      

Mentioning that the world was coming to espouse the views of BRIC, Menon said, "it is now widely appreciated that globalisation, development and economic process cannot be left solely to the mercy of an unregulated free market.      

"It is also now generally accepted that larger considerations of public good require both globalisation and growth to be inclusive. In addition, it is becoming clearer and clearer that international decision-making on global economic issues must necessarily be democratised to reflect present realities."      

Endorsing the views expressed by both Menon and Yan, Fonesca said the time has come when these countries should strengthen their bilateral relationships and make themselves more effectives collectively.      

The two-day long preparatory meeting will set the tone and iron-out the wrinkles in the bilateral relationships ahead of the summit to be held in Russia next month.