Agenda for BRICS meeting in Cape Town: More members and, perhaps, a new currency | Business

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The BRICS group of emerging markets is ramping up its bid for greater global influence, sensing a moment to capitalise on the splintering world order to build out its ranks beyond Brazil, Russia, India, China and SA. | News24_Business

India's External Affairs Minister Subrahmanyam Jaishankar and Russian Foreign Minister Sergey Lavrov at a meeting during the BRICS ministerial summit in Cape Town on Thursday. Photo: Russian Ministry of Foreign Affairs/TwitterThe BRICS group of emerging markets is ramping up its bid for greater global influence, sensing a moment to capitalise on the splintering world order to build out its ranks beyond Brazil, Russia, India, China and South Africa.

The gathering, a precursor to an August 22-24 summit of BRICS heads of state in Johannesburg, will showcase the bloc’s goals to establish itself as a serious economic and political force. Coming at a time of heightened tensions between Washington and Beijing, the talks are also likely to fan western concerns that the group is moving to become a counterweight to the US and the European Union.

"BRICS has acquired a very important stature in the world, with many countries across various continents of our world seeking to be part of it," South African President Cyril Ramaphosa told lawmakers in Cape Town on Wednesday.

 

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