President Cyril Ramaphosa called for the advancement of the interests of the Global South countries particularly, Africa, Latin America and the Caribbean, Asia as well as Oceania countries during his speech at the BRICS Summit underway at the Sandton Convention Centre in Johannesburg.
The BRICS Summit is attended by Brazilian President Luiz Inacio Lula da Silva, Russian Foreign Minister Sergei Lavrov, Indian Priminister Narandra Modi and Chinese President Xi Jinping who are the members of the bloc. And about 30 heads of states, some from the African continent, are also part of the event.
Ramaphosa said advancing the interests of the Global South is inline with the objectives of BRICS and he called for industrialised countries to honour their commitment to support climate actions by developing countries.
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“Peace and stability are preconditions for a better, more equitable world. We are deeply concerned about conflicts across the world that continue to cause great suffering and hardship.
“As South Africa, our position remains that diplomacy, dialogue, negotiation and adherence to the principles of the United Nations Charter are necessary for the peaceful and just resolution of conflicts.”
Ramaphosa was also concerned about global financial and payments systems which he said are increasingly being used as instruments of geopolitical contestation.
“Global economic recovery relies on predictable global payment systems and the smooth operation of banking, supply chains, trade, tourism and financial flows.
“We will continue discussions on practical measures to facilitate trade and investment flows through the increased use of local currencies.”
The president said it is the right time for more countries to cooperate for economic development.
“The world is changing. New economic, political, social and technological realities call for greater cooperation between nations.These realities call for a fundamental reform of the institutions of global governance so that they may be more representative and better able to respond to the challenges that confront humanity.
“While firmly committed to advance the interests of the Global South, BRICS stands ready to collaborate with all countries that aspire to create a more inclusive international order.
“We are confident that this 15th BRICS Summit will enrich and inspire our work towards the achievement of a more humane global community.”
