China
Source: brics2022.mfa.gov.cn

On the evening of May 19, 2022, State Councilor and Foreign Minister Wang Yi chaired the virtual meeting of BRICS Ministers of Foreign Affairs/International Relations in Beijing. South African Minister of International Relations and Cooperation Naledi Pandor, Brazilian Foreign Minister Carlos Alberto Franco França, Russian Foreign Minister Sergey Lavrov, and Indian External Affairs Minister Subrahmanyam Jaishankar attended the meeting.

President Xi Jinping delivered a video address at the opening session of the meeting. Wang Yi said, President Xi Jinping spoke highly of the significance of the BRICS Foreign Ministers' Meeting, profoundly expounded on security and development, and put forward important opinions on deepening BRICS political and security cooperation, thus pointing out the direction for us to make a success of this meeting.

Wang Yi said, the BRICS Foreign Ministers' Meeting is an important platform for BRICS political and security cooperation. Over the past five years, under the strategic guidance of leaders of BRICS countries, we have sent a common message on major international issues of common concern on multilateral platforms, and firmly safeguarded the common interests of the five countries. Currently, a series of new features and challenges have emerged in the international landscape due to the major changes in the world and the COVID-19 pandemic, both unseen in a century. We should have a clear understanding of the direction, grasp the general trend, build consensus, strengthen confidence, and understand and adapt to changes.

First, strive to find the common denominator of universal security. President Xi Jinping recently put forward the Global Security Initiative, which points out the way to make up the peace deficit and solve the global security dilemma. As countries are interdependent in today's world, any attempt to seek "absolute security" or "exclusive security" is doomed to fail. We must go beyond the I-win-you-lose Cold War mentality, respect and guarantee the security of every country, and replace confrontation, coercion, alliance and zero-sum with dialogue, consultation, partnership and win-win results. We should act on true multilateralism and oppose all kinds of unilateral sanctions and "long-arm jurisdiction". It is important to implement in earnest the principle of indivisible security and promote the building of a balanced, effective and sustainable regional security architecture. The BRICS countries should stay committed to independence, objectivity and impartiality, speak out for peace, do their best for peace, and support Russia and Ukraine to achieve peace through dialogue and negotiation.

Second, strive to draw "concentric circles" for common development. President Xi Jinping has put forward the Global Development Initiative (GDI), providing a Chinese solution to the global development problems. The GDI has been widely echoed by the international community, with more than 100 countries and many international organizations including the United Nations expressing positive support and more than 50 countries joining the Group of Friends of GDI. Development is an equal right of every country. It's important to give priority to the implementation of the 2030 Agenda in the international cooperation agenda and pay due attention to the practical difficulties of developing countries. Developed countries should earnestly fulfill their commitments and render greater support for developing countries in capital, technology and capacity building. It is important to give full play to the role of multilateral institutions and mechanisms such as the United Nations and improve global development governance. BRICS countries should push the international community to focus on global development through concrete actions. It is important to resist certain countries' moves to build "exclusive yards with high walls" and create a "parallel system" to split the world. We should advocate mutual benefit and win-win results, foster an open world economy and create a favorable environment for common development.

Third, strive to build a firewall for human health. The international pandemic response is at a critical moment, and we should not take it lightly and give up halfway. We should support each other, better coordinate response measures and improve global health governance. China adheres to the dynamic zero-COVID policy, which aims to curb the spread of the pandemic at the fastest speed and the lowest cost, protect people's lives and health to the greatest extent, and minimize the impact of the pandemic on economic and social development. The policy embodies a sense of responsibility not only to the Chinese people, but also to the world. We are fully confident in winning the tough battle against the pandemic, thus making greater contributions to the global victory over the pandemic at an early date. BRICS countries should fully leverage their respective strengths, jointly promote the development of global health governance in a direction in favor of developing countries, and accelerate the building of a global community of health for all.

Fourth, strive to pool positive energy of global governance. Currently, global challenges are emerging one after another. Only by mobilizing global resources and coordinating global actions can we properly cope with them. "Small circles" can't solve the "big challenges" facing the whole world, and "small groups" can't adapt to the "major changes" in today's world. We should firmly safeguard the international system with the United Nations at its core and the international order underpinned by international law, and ensure that international affairs are participated by all, international rules formulated by all, and development outcomes shared by all. The global governance system should be built and improved by all, rather than dominated by one country or a group of countries, and no country has the right to exclude other countries for whatever reason. BRICS countries should follow the historical trend of multipolarity and greater democracy in international relations, embrace a global governance philosophy that emphasizes extensive consultation, joint contribution and shared benefits, and increase the voice of developing countries and emerging markets in global governance.

Wang Yi said, since China took over the BRICS chairmanship at the beginning of this year, more than 50 important events have been held, pushing the BRICS cooperation to achieve significant progress in various fields and laying a solid foundation for the 14th BRICS Summit. We should strive to translate the BRICS spirit of openness, inclusiveness and win-win cooperation into concrete actions, deepen the building of BRICS partnership and inject more BRICS strength into global development.

Wang Yi said, we should further strengthen strategic communication and coordination and set an example of political mutual trust. It's important to accommodate each other's core interests and major concerns, and respect each other's sovereignty, security and development interests; inspire and support each other, and jointly enhance the influence and popularity of the BRICS countries; carry forward the tradition of independent diplomacy, and play BRICS' unique role in a turbulent and changing world.

We should further deepen mutually beneficial cooperation in various fields and set an example of pragmatic actions. It's important to make good use of the BRICS Vaccine Research and Development Center, establish a BRICS early warning mechanism for preventing large-scale infectious diseases, reach the BRICS Initiative for Strengthening Supply Chain Cooperation and a cooperation strategy on food security as soon as possible, and keep industrial and supply chains secure and smooth; rely on the New Development Bank and the Contingent Reserve Arrangement mechanism to enhance the financial resilience of developing countries; build a BRICS digital economy partnership and rely on the BRICS mechanism to seek greater synergy among countries' development initiatives and strategies.

We should further demonstrate openness and inclusiveness and set an example of strength through unity. It's important to make good use of the BRICS Plus model, explore BRICS Plus cooperation at more levels, in more areas and in a wider scope, strengthen solidarity and cooperation with emerging markets and developing countries, and make greater contributions to world peace and development.

The foreign ministers attending the meeting thanked President Xi Jinping for delivering an important speech to this Foreign Ministers' Meeting, saying that this fully reflects the great importance China attaches to BRICS cooperation. All parties spoke highly of China's active and effective work as the rotating chair, and expressed willingness to maintain close communication and cooperation with China, and make active efforts for a successful BRICS Summit to be hosted by China.

The foreign ministers said, the world is at a critical historical turning point, and it is more important than ever for the BRICS countries to strengthen solidarity and cooperation. It's important to uphold multilateralism, safeguard the purposes and principles of international law and the UN Charter, promote the reform of the global governance system, and build a more just, reasonable, inclusive and fairer international landscape. The strength of BRICS comes from diversity and representativeness. The BRICS countries should continue to uphold independence, support peaceful settlement of disputes through dialogue, and call on major developed countries to adopt responsible policies to control spillover effects and prevent unilateral sanctions from seriously impacting developing countries and vulnerable groups. All parties agreed to deepen the BRICS strategic partnership, increase the voice and influence of the BRICS countries in international affairs, and safeguard the common interests of emerging markets and developing countries.

The foreign ministers appreciated China's active role in fighting the pandemic and coping with global climate change, and are ready to strengthen cooperation in pandemic response, trade, health, people-to-people and cultural affairs, climate change and other fields, and fully implement the UN 2030 Agenda for Sustainable Development, so as to better benefit the people of developing countries and promote the building of a community with a shared future for mankind.

The foreign ministers supported promoting BRICS expansion process, saying that further discussions will be held on this issue.

The foreign ministers also exchanged views on Ukraine, Afghanistan, and other regional hotspot issues.

At the meeting, BRICS Joint Statement on "Strengthen BRICS Solidarity and Cooperation, Respond to New Features and Challenges in International Situation" was issued.

China
Source: brics2022.mfa.gov.cn

On 10 May 2022, as the BRICS presidency, China successfully hosted the 12th BRICS Health Ministers' Meeting online. Minister of the National Health Commission of P.R China, Ma Xiaowei delivered an opening speech, and Vice Minister Li Bin presided over the meeting.

Ma Xiaowei recalled the progress made since the first BRICS Health Ministers' Meeting held in Beijing in 2011, saying that the Chinese government holds on to the philosophy of putting people and their lives first, sticks to scientific and targeted COVID-19 prevention and control measures, as well as dynamic zero strategy, and has striven to coordinate its virus containment measures with economic development. At the same time, China has made its contributions to the global fight against the pandemic by providing antivirus materials, vaccines and dispatching medical expert teams overseas. By far, China has provided more than 2.2 billion doses of COVID-19 vaccines to more than 120 countries and international organizations. China calls on the BRICS countries to unite and cooperate in the fight against COVID-19 and jointly contribute to the goal of achieving universal health coverage.

Delegates from BRICS countries exchanged in-depth views on topics including COVID-19 prevention and control, health system strengthening and digital health. The meeting agreed to launch work related to the establishment of BRICS Integrated Early Warning System for preventing mass infectious diseases risks and adopted in principle the Declaration of the 12th BRICS Health Ministers' Meeting.

A total of more than 70 delegates including BRICS countries' Health Ministers and the WHO Deputy Director-General attended the meeting. Delegates from relevant departments of Ministry of Foreign Affairs and National Health Commission of P.R.China attended the meeting.

China
Source: brics2022.mfa.gov.cn

On the evening of May 19, 2022, State Councilor and Foreign Minister Wang Yi chaired the Video Dialogue of Foreign Ministers between BRICS and Emerging Markets and Developing Countries in Beijing. Foreign Ministers of BRICS countries, including South African Foreign Minister of International Relations and Cooperation Naledi Pandor, Brazilian Foreign Minister Carlos Alberto Franco França, Russian Foreign Minister Sergey Lavrov and Indian External Affairs Minister Subrahmanyam Jaishankar as well as ministers of guest countries such as Kazakh Deputy Prime Minister and Foreign Minister Mukhtar Tileuberdi, Foreign Minister of Saudi Arabia Faisal bin Farhan Al Saud, Argentine Foreign Minister Santiago Cafiero, Egyptian Foreign Minister Sameh Shoukry, Indonesian Foreign Minister Retno Marsudi, Nigerian Foreign Minister Geoffrey Onyeama, Senegalese Foreign Minister Aissata Tall Sall, UAE Minister of State Ahmed Ali Al Sayegh, representative of Thai Deputy Prime Minister and Foreign Minister were present at the dialogue.

Wang Yi said, five years ago, President Xi Jinping proposed the "BRICS Plus" cooperation model, which has received positive support and enthusiastic responses from all parties, enriching and enhancing the value of the "BRICS". Facing the currently mounting risks and challenges, it is more important than ever to strengthen the solidarity and cooperation between emerging markets and developing countries. We held the "BRICS Plus" dialogue event at the foreign minister level for the first time, which is of great significance for further expanding cooperation between the BRICS countries and other emerging markets and developing countries.

Wang Yi proposed three suggestions:

First, we need to uphold multilateralism. In the face of unprecedented changes and turmoil, multilateralism is the guarantee for emerging markets and developing countries to survive. The key to upholding true multilateralism is to adhere to extensive consultation, joint contribution and shared benefits, to advocate openness and inclusiveness, and to oppose closure and exclusion. We need to firmly uphold the international system with the United Nations at its core, oppose ganging up to form "small cliques", and oppose coercing other countries into taking a side. We need to promote the global governance system to better reflect the legitimate concerns and reasonable demands of most countries, especially developing countries. Not long ago, President Xi Jinping proposed the Global Security Initiative. China is willing to work with all parties to promote the implementation of the initiative, enhance global security governance, and safeguard world peace and tranquility.

Second, we need to persevere in focusing on development. Development is our common pursuit and the mission of global governance. We need to promote the international community to prioritize development in global governance, compose a "melody" of common development, and play a "symphony" of sustainable development. President Xi Jinping put forward the Global Development Initiative, emphasizing the priority of staying committed to the development and a people-centered approach, so as to pursue more robust, greener and more balanced global development. China is willing to increase investment in development cooperation, work with other countries to push forward the initiative for in-depth and solid progress, build global development partnerships, and create an international environment conducive to development, so that development results can benefit more developing countries.

Wang Yi said that at present, the mounting trend of "de-globalization" as well as rampant unilateral sanctions and technological barriers have serious impacts on the economic and social development of emerging markets and developing countries. We must adhere to linking instead of decoupling, and complementing the chain instead of disrupting the chain, so that developing countries can better integrate into the international division of labor and cooperation, and share the dividends of globalization. We need to promote global science and technology governance and allow developing countries to get aboard the fast train of innovation and development. We need to strengthen global health governance to ensure equitable access to vaccines in developing countries and bridge the immunization gap.

Third, we need to pursue win-win cooperation. The collective rise of emerging markets and developing countries has become an irreversible trend of the times. Developing countries have become an important engine driving world economic growth and a new force pushing the evolution of the international landscape, and have gradually transformed from followers of global governance to conscious promoters. In the past, developing countries joined hands in the struggle against imperialism and colonialism to usher in a new era of independent development. Today, we need to make concerted efforts to improve global governance and jointly strive for greater space for development. We need to uphold the spirit of solidarity and mutual assistance, carry out South-South cooperation on a larger scale, in a wider area and at a deeper level, enhance the power of international discourse, agenda-setting and rule-making, and promote the development of global governance system in a more just and reasonable direction. We need to strengthen the synergy between development strategies, deepen practical cooperation, and seek strength through unity. We need to respect the development path of each country that suits its own national conditions, promote a multi-polar world, diversified civilizations and democracy in international relations, and safeguard the legitimate rights and interests of developing countries.

Wang Yi said, China will always be a member of the big family of developing countries, and will always stand with other developing countries, adhere to the humanity's common values of peace, development, equity, justice, democracy and freedom, and make unremitting efforts to build a community with a shared future for mankind. The "BRICS Plus" cooperation model is born for cooperation and thrives on development. More countries are welcome to join us in promoting democracy in international relations, making the world economy more inclusive and rationalizing global governance, so as to jointly create a bright and better future.

The foreign ministers present at the dialogue thanked China for initiating and holding the "BRICS Plus" Foreign Ministers' Dialogue. They held the view that in the face of new challenges in the current international situation, "BRICS Plus" cooperation is of great significance. It will help promote solidarity and cooperation between emerging markets and developing countries, so that they can better play a role in international affairs, increase their representation and voice in global governance, and better safeguard the common interests of developing countries. All parties expressed their willingness to continue to deepen the strategic communication and coordination between the BRICS and emerging markets, so as to push forward the reform of global governance in a direction that is more just and reasonable, more inclusive and democratic.

The foreign ministers present at the dialogue expressed that we should support the promotion of multilateralism, defend the purposes and principles of the UN Charter, and safeguard the cornerstone for developing countries to survive and thrive. It is necessary to adhere to solidarity and cooperation in the fight against the pandemic, continue to strengthen cooperation in vaccine and drug research and development, and help developing countries improve their capacity to combat the pandemic. It is necessary to strengthen South-South cooperation, build global development partnerships, and promote the implementation of the 2030 Agenda for Sustainable Development.

India
Source: www.moneycontrol.com

By Jayanth Jacob

BRICS could have been a bloc, while managing certain contradictions, and worked seamlessly with the rest of the world. But the western dominance on international finance and trade is so huge that even a group such as BRICS is waking up to the reality of not getting its house in order in time

The BRICS (Brazil, Russia, India, China and South Africa) group of countries will hold the 14th edition of their annual summit in China next month with a focus on a 'new era of global development' as the world continues to grapple with the mounting repercussions of the Ukraine conflict leaving the world divided as West vs the Rest.

There is no surprise that no BRICS member took a position that was uncomfortable to Moscow. They all were guided by trade and economic concerns, diplomatic traditions and historical connections in firming up their positions on Ukraine.

Barring Brazil, there was overwhelming national consensus in taking such a position in every BRICS country.

Brazil, where the political consensus on strengthening the BRICS is more tenuous than in other countries, couldn't have angered Moscow in any way.

Brazil has a fertilizer-production deficit. Russia accounts for 23 percent of a total of 40 million tonnes of the fertilizers that the country needs to produce corn, soy, sugarcane and cotton.

There is no way President Jair Bolsonaro, whose most loyal supporters include the powerful agribusiness sector, could have upset trade ties with Russia, and he had duly visited Russia to meet President Vladimir Putin shortly before the war began.

Like India, South Africa also has historical reasons not to upset Moscow in an hour of need. Among the powerful factors, it was the Soviet-backed armed resistance of the African National Congress that eventually forced the apartheid regime to the negotiating table.

First and foremost, the western sanctions have made life difficult for people doing business with Russia. And all of the BRICS countries are victims of that. Following the military conflict in Ukraine, Moscow has been hit by unprecedented Western sanctions that have knocked Russia off the global financial system. Almost half of Russia's $600 billion in foreign exchange is stuck and Russia's biggest banks have also lost access to the SWIFT global banking messaging system.

To make things more precarious, among the five BRICS countries, three of them, Russia, Brazil and South Africa face an economic downturn.

The border tussle between two of Asia's biggest economies, India and China, has come in the way of their economic ties realizing greater potential.

That being the case, the BRICS grouping remains at the cusp of a changing global order where the Ukraine conflict has brought to the fore sharp divisions between the west and the rest. As developing countries and members of the G 20 grouping, BRICS nations need a more coordinated approach in dealing with political developments that affect their national economic goals.

India, Brazil, and South Africa assume the G-20 presidency over the next four years and both BRIS and G 20 need to come up with plans to deal with the economic fallout of the Ukraine crisis.

Though the BRICS grouping held out immense promise, there has been no major cohesive action from the countries that could by now have accorded it the status of the most important forum for the developing countries. BRICS could have been a bloc, while managing certain contradictions, and worked seamlessly with the rest of the world. But the western dominance on international finance and trade is so huge that even a group such as BRICS is waking up to the reality of not getting its house in order in time.

Initiatives such as New Development Bank could have by now given some competition to the Western lenders. Despite Russia, China and India in the group, the intra BRICS trade accounts for less than 20 per cent of global trade and the grouping is far away from having its own payment mechanisms, international messaging systems or cards.

Though the BRICS cannot replace the economic might of the West, the western response to the Ukraine conflict shows the grouping needs to do more in dealing with the financial turbulence that shakes the world.

Jayanth Jacob is a foreign policy commentator who covered the ministry of external affairs for more than two decades.

China
Source: brics2022.mfa.gov.cn

CCTV: The BRICS High-level Meeting on Climate Change was held via video link a few days ago. Could you give us more details?

Wang Wenbin: The BRICS High-level Meeting on Climate Change was held via video link a few days ago. The meeting was hosted by the Ministry of Ecology and Environment of China and attended by officials of the environmental departments of BRICS countries. BRICS countries had in-depth exchanges and reached broad consensus on accelerating low-carbon and climate resilient transition, advancing the multilateral process on climate change and strengthening solidarity and cooperation in addressing climate change.

BRICS countries, as an important force in addressing climate change, have contributed their share to global climate response. At the 75th session of the UNGA, President Xi Jinping solemnly pledged that China will strive to peak carbon dioxide emissions before 2030 and achieve carbon neutrality before 2060. China formulates and implements a "1+N" policy framework for carbon peak and carbon neutrality and has over-fulfilled the climate action goals of 2020. Brazil, Russia, India and South Africa have also made their climate pledges respectively, formulated climate policy and announced corresponding measures.

BRICS countries have collaborated with each other in responding to climate challenges. We have conducted policy information sharing, and engaged in dialogue and exchanges on specific policies, measures and actions adopted to implement respective climate goals. We will continue to carry out information exchanges and cooperation at the national, local, industrial and enterprise levels, in multiple fields including clean energy, low-carbon technology, sustainable and resilient infrastructure construction, carbon market and climate change adaptation, and jointly promote policy research on low-carbon green growth, technology cooperation and joint pilot projects. With science and technology innovation being the driver, we will promote the transition and upgrading of energy, resources, industrial structure and consumption structure, jointly exploring pathways for low-carbon and sustainable development.

BRICS countries have made their voice heard for improving the global climate governance system. This BRICS High-level Meeting on Climate Change reviewed and adopted a Joint Statement, which reiterates the commitments to the goals, principles and institutional framework of the United Nations Framework Convention on Climate Change and its Paris Agreement; opposes the politicization of climate change issues and all forms of unilateralism and protectionism; calls for all Parties to focus on implementation actions by faithfully translating their climate goals and visions into measures and actions; underlines that developed countries should take the lead in scaling up mitigation actions and ambition and provision of climate financing, and respect the right to development and policy space of developing countries as well as countries in transition; calls for developed countries to scale up the support for developing countries to adapt to climate change, enhance their resilience to climate change and come forward with a detailed and explicit roadmap on how the commitment made at COP26 to at least double climate finance for adaptation to developing countries from 2019 levels by 2025 will be realized, as soon as possible.

BRICS countries, which together represent around 42 percent of the world population and one fifth of the global GDP, have become a model for cooperation between emerging markets and developing countries. We are fully confident that BRICS will remain a stabilizer for the regional and international landscape and a booster for solidarity and cooperation of emerging markets and developing countries. China stands ready to work with its fellow members to assume BRICS' responsibility for, and offer its solution and contribution to global climate cooperation.

Russia
Source: mid.ru

1. The Ministers of Foreign Affairs/International Relations of the Federative Republic of Brazil, the Russian Federation, the Republic of India, the People's Republic of China and the Republic of South Africa met on 19 May 2022 in virtual format under China's Chairship. They reiterated that the BRICS countries shall continue to enhance the framework of intra-BRICS cooperation under the three pillars - political and security, economic and financial, and cultural & people-to-people exchanges, to contain the spread and effects of the COVID-19 pandemic with solidarity, to speed up the implementation of the 2030 Sustainable Development Agenda, and to further broaden and deepen the cooperation amongst the BRICS countries. The Ministers agreed that facing the newly emerging features and challenges, the BRICS countries should enhance their solidarity and cooperation and work together to address them. In this regard, they recalled the adoption in 2021 by BRICS Sherpas of the revised Terms of Reference for guiding BRICS engagement going forward on its working methods, scope of engagement and the Chair's mandate.

2. The Ministers took note of the unprecedented shock and hardship caused by the COVID-19 pandemic to humanity. They acknowledged the related uncertainties which will impact the achievement of sustainable development goals globally. They stressed that the difficulties are possibly interconnected and therefore they reaffirmed the need for the international community to work together to build resilience through solidarity and cooperation.

3. The Ministers reiterated their commitment to multilateralism through upholding international law, including the purposes and principles enshrined in the Charter of the United Nations as its indispensable cornerstone, and to the central role of the United Nations in an international system in which sovereign states cooperate to maintain peace and security, advance sustainable development, ensure the promotion and protection of democracy, human rights and fundamental freedoms for all, and promoting cooperation based on the spirit of mutual respect, justice and equality.

4. The Ministers reiterated their commitment to enhancing and improving global governance by promoting a more agile, effective, efficient, representative and accountable system; exercising inclusive consultation and collaboration for the benefit of all on the basis of respecting sovereignty, independence, territorial integrity, equality, legitimate interests and concerns of different countries.

5. The Ministers recalled the Joint Statement on Strengthening and Reforming the Multilateral System in 2021 and reaffirmed their commitment to advancing the process of reform mentioned in the Joint Statement along with all the relevant parties of international community, in order to make the global governance institutions more inclusive, representative and democratic and to facilitate greater participation of emerging markets and developing countries in global decision-making. They supported the call for greater representation of developing countries in the international organizations and multilateral fora so that they could play an important role in global governance. The Ministers recalled the 2005 World Summit Outcome document and reaffirmed the need for a comprehensive reform of the UN, including its Security Council, with a view to making it more representative, effective and efficient, and to increase the representation of the developing countries so that it can adequately respond to global challenges. China and Russia reiterated the importance they attach to the status and role of Brazil, India and South Africa in international affairs and supported their aspiration to play a greater role in the UN.

6. The Ministers reiterated that it was imperative to ensure the availability of safe, efficacious, accessible and affordable diagnostics, medicines, vaccines and essential medical products to people from different countries especially developing countries, and equitable distribution of vaccines and expeditious vaccination, to fill the immunization gap globally. They supported the leading role of the WHO in combating the pandemic, as well as acknowledged initiatives such as the COVAX and the ACT-A. They recognized the importance of the on-going discussions in the WTO on relevant IP waiver proposals, as well as capacity building and strengthening local production of vaccines and other health tools, especially in developing countries. They stressed the need to continue to strengthen the cooperation on developing, testing methods, therapeutic, research, production and recognition of vaccines, the research on their efficacy and safety in light of new variants of COVID-19 virus and recognition of national document of vaccination against COVID-19 and respective testing, especially for purpose of international travel, as well as knowledge-sharing on traditional medicine among the BRICS countries. They expressed support to the launch of the BRICS Vaccine Research and Development Center, the establishment of BRICS Integrated Early Warning System for preventing mass infectious diseases risks, and the adoption of the Memorandum of Understanding on Cooperation in the field of Regulation of Medical Products for Human Use. They called for conducting an origin-tracing based on scientific principles, evidence-based decision-making, objectivity, inclusivity, transparency and free from stigmatization or interference, within existing international frameworks including the WHO.

7. The Ministers stressed that global economic governance is of critical importance for countries to ensure sustainable development and recalled further their support for broadening and strengthening the participation of emerging markets and developing countries (EMDCs) in the international economic decision-making and norm-setting processes. They reiterated their support for G20's leading role in global economic governance and underlined that G20 shall remain intact and respond to current global challenges. They called upon the international community to foster partnerships while underlining that it is imperative to strengthen macro-policy coordination in driving the world economy out of the crisis and shaping a strong, sustainable, balanced and inclusive post-pandemic economic recovery. They urged major developed countries to adopt responsible economic policies, while managing policy spillovers, to avoid severe impacts on developing countries.

8. The Ministers called for the implementation of the 2030 Agenda for Sustainable Development in its three dimensions - economic, social and environmental -in a balanced and integrated manner.

9. The Ministers expressed their support for an open, transparent, fair, inclusive, non-discriminatory and rules-based multilateral trading system with a view to ensuring a level playing field with special and differential treatment for developing countries, and avoid the unilateral actions and protectionist measures that run counter to the rules of WTO. They supported a robust Global Financial Safety Net with a quota-based and adequately resourced IMF at its center.

10. The Ministers reiterated that the objectives, principles and provisions of the UNFCCC and the Paris Agreement, in particular the principle of common but differentiated responsibilities and respective capabilities in the light of different national circumstances, must be honored. They reaffirmed their national and joint efforts to promote implementation of the Paris Agreement and, in that regard, stressed the importance of the fulfillment by developed countries of their commitments to provide technology and mobilize credible and adequate, predictable and timely new and additional climate financing to assist developing countries to combat climate change. They also expressed their concern on the attempts to link security with climate change agenda and recalled that the UNFCCC, including the annual COP sessions, is the appropriate and legitimate international forum to discuss the issue of climate change, considering all its dimensions.

11. The Ministers recalled their national positions concerning the situation in Ukraine as expressed at the appropriate fora, namely the UNSC and UNGA. They supported talks between Russia and Ukraine. They also discussed their concerns over the humanitarian situation in and around Ukraine and expressed their support to efforts of the UN Secretary-General, UN Agencies and ICRC to provide humanitarian aid in accordance with UN General Assembly resolution 46/182.

12. The Ministers expressed deep concern over the situation in the Middle East and North Africa (MENA) discussed in the Meeting of BRICS Deputy Ministers/Special Envoys on 17 May 2022.

13. The Ministers expressed strong condemnation of terrorism in all its forms and manifestations whenever, wherever and by whomsoever committed. They recognized the threat emanating from terrorism, extremism conducive to terrorism and radicalization. They committed to combating terrorism in all its forms and manifestations, including the cross-border movement of terrorists, and terrorism financing networks and safe havens. They reiterated that terrorism should not be associated with any religion, nationality, civilization or ethnic group. They reaffirmed their unwavering commitment to contribute further to the global efforts of preventing and countering the threat of terrorism on the basis of respect for international law, in particular the Charter of the United Nations, and human rights, emphasizing that States have the primary responsibility in combating terrorism with the United Nations continuing to play central and coordinating role in this area. They also stressed the need for a comprehensive and balanced approach of the whole international community to effectively curb the terrorist activities, which pose a serious threat, including in the present-day pandemic environment. They rejected double standards in countering terrorism and extremism conducive to terrorism. They called for an expeditious finalization and adoption of the Comprehensive Convention on International Terrorism within the UN framework and for launching multilateral negotiations on an international convention for the suppression of acts of chemical and biological terrorism, at the Conference of Disarmament.

14. The Ministers called for continued efforts to strengthen the system of arms control, disarmament and non-proliferation treaties and agreements and to preserve its integrity for maintaining global stability and international peace and security, and stressed further the need to maintain the effectiveness and efficiency as well as the consensus-based nature of the relevant multilateral instruments in the field of disarmament, non-proliferation and arms control.

15. The Ministers called for strengthening the system of arms control, disarmament and non-proliferation, including the Convention on the Prohibition of the Development, Production and Stockpiling of Bacteriological (Biological) and Toxin Weapons and on their Destruction (BTWC) and the Convention on the Prohibition of the Development, Production, Stockpiling and Use of Chemical Weapons and on Their Destruction (CWC), and for preserving their integrity and effectiveness to maintain global stability and international peace and security. They underlined the need to comply with and strengthen the BTWC, including by adopting a legally binding Protocol to the Convention that provides for, inter alia, an efficient verification mechanism. The Ministers reasserted their support for ensuring the long-term sustainability of outer space activities and prevention of an arms race in outer space (PAROS) and of its weaponization, including through negotiations to adopt a relevant legally binding multilateral instrument. They recognized the value of the updated Draft Treaty on the Prevention of the Placement of Weapons in Outer Space, the Threat or Use of Force against Outer Space Objects (PPWT) submitted to the Conference on Disarmament in 2014. They stressed that practical Transparency and Confidence-Building Measures (TCBMs), may also contribute to PAROS.

16. The Ministers reaffirmed their commitment to a world free of nuclear weapons and stressed their strong commitment to nuclear disarmament and their support to the work on this subject during the session of 2022 of the Conference on Disarmament. They noted the Joint Statement of the Leaders of the People's Republic of China, the French Republic, the Russian Federation, the United Kingdom of Great Britain and Northern Ireland, and the United States on Preventing Nuclear War and Avoiding Arms Races on 3 January 2022, in particular the affirmation that a nuclear war cannot be won and must never be fought.

17. The Ministers reaffirmed their commitment to the promotion of an open, secure, stable, accessible and peaceful ICT-environment, underscored the importance of enhancing common understandings and intensifying cooperation in the use of ICTs and Internet. They supported the leading role of the United Nations in promoting constructive dialogue on ensuring ICT-security, including within the UN Open-Ended Working Group on security of and in the use of ICTs 2021-2025, and developing a universal legal framework in this realm. They called for a comprehensive, balanced, objective approach to the development and security of ICT products and systems. They underscored the importance of establishing legal frameworks of cooperation among BRICS countries on ensuring security in the use of ICTs. They also acknowledged the need to advance practical intra-BRICS cooperation through implementation of the BRICS Roadmap of Practical Cooperation on ensuring security in the use of ICTs and the activities of the BRICS Working Group on security in the use of ICTs.

18. The Ministers supported information exchanges and technical cooperation on AI technology. They recalled the declaration of the 7th BRICS Communications Ministers meeting recognizing the rapid developments and huge potential of Artificial Intelligence technologies and its value to economic growth. They acknowledged the need to cooperate with each other to build trust, confidence and security, as well as transparency and accountability in promoting trustworthy AI to maximize its potential for the benefit of society and humanity as whole with specific emphasis on marginalized and vulnerable groups of population. They expressed their concerns on the risk, and ethical dilemma related to Artificial Intelligence, such as privacy, manipulation, bias, human-robot interaction, employment, effects and singularity among others. They encouraged BRICS members to work together to deal with such concerns, sharing best practices, conduct comparative study on the subject toward developing a common governance approach which would guide BRICS members on Ethical and responsible use of Artificial Intelligence while facilitating the development of AI.

19. The Ministers, while emphasizing the formidable potential of the ICTs for growth and development, recognized new associated possibilities they bring for criminal activities and threats, and expressed concern over the rising level and complexity of criminal misuse of ICTs. They welcomed the ongoing work in the UN Open-Ended Ad Hoc Committee of Experts to elaborate a comprehensive international convention on countering the use of ICTs for criminal purposes and reaffirmed their commitment to cooperating in the implementation of the mandate adopted by the UN General Assembly resolution 75/282.

20. The Ministers reiterated the need for all countries to cooperate in promoting and protecting human rights and fundamental freedoms under the principles of equality and mutual respect. They agreed to continue to treat all human rights including the right to development in a fair and equal manner, on the same footing and with the same emphasis. They agreed to strengthen cooperation on issues of common interests both within BRICS and in multilateral fora including the United Nations General Assembly and Human Rights Council, taking into account the necessity to promote, protect and fulfil human rights in a non-selective, non-politicised and constructive manner and without double standards.

21. The Ministers called for the respect of democracy and human rights. In this regard, they underlined that they should be implemented on the level of global governance as well as at national level. They reaffirmed their commitment to ensuring the promotion and protection of democracy, human rights and fundamental freedoms for all with the aim to build a brighter shared future for the international community based on mutually beneficial cooperation.

22. The Ministers commended China's Chairship for hosting the Dialogue session under the theme "Increased Role of Emerging Markets and Developing Countries in Global Governance".

23. The Ministers recalled the BRICS efforts of extending its cooperation to other developing countries and emerging markets and supported further promoting the BRICS Outreach and BRICS Plus Cooperation, in line with the updated Terms of Reference adopted by the BRICS Sherpas in 2021 through inclusive and equal-footed and flexible practices and initiatives.

24. The Ministers supported promoting discussions among BRICS members on BRICS expansion process. They stressed the need to clarify the guiding principles, the standards, criteria and procedures for this expansion process.

25. Brazil, Russia, India and South Africa extended their support to China's BRICS Chairship in 2022 under the theme of "Foster High-quality BRICS Partnership, Usher in a New Era for Global Development". They are fully committed to working together to ensure the success of the 14th BRICS Summit.

China
Source: www.china.org.cn

SHANGHAI, May 20 (Xinhua) -- The BRICS New Development Bank (NDB) has launched the Indian Regional Office in the Gujarat International Finance Tec-City, the bank announced during the seventh annual meeting of its board of governors held virtually on Thursday.

The launch of the office aims to cater to the infrastructure and sustainable development needs in India and Bangladesh, contributing to economic growth and sustainable development in South Asia, the bank said.

The office will focus on project origination, pipeline development, project implementation and monitoring, and regional portfolio management.

"The Indian Regional Office is part of the NDB's effort to increase the quality and complexity of its operations, creating a network of business and development opportunities," said Marcos Troyjo, the bank's president.

The bank is in the final stages of preparing for the physical opening of the office.

Headquartered in Shanghai, the NDB was established by BRICS nations, namely Brazil, Russia, India, China and South Africa. The bank formally opened in July 2015. Enditem

China
Source: www.china.org.cn

BRICS New Development Bank (NDB) has issued an RMB-denominated bond of 7 billion yuan (about 1.04 billion U.S. dollars) in China's interbank bond market with a maturity of three years, the bank said Thursday.

Upon the completion of the issuance, the bank would have a cumulative total of 30 billion yuan bonds issued under its RMB bond programs in the China interbank bond market.

The net proceeds from the sale of the bond will form a part of the bank's general corporate resources onshore and will be used to finance infrastructure and sustainable development activities in the bank's member countries, the NDB said.

"This transaction is another major milestone for the bank," said Leslie Maasdorp, vice president and chief financial officer of the NDB. "With the successful execution of such a large issuance, the NDB again proved itself as a high-quality issuer in the RMB bond market."

Headquartered in Shanghai, the NDB was established by BRICS nations, namely Brazil, Russia, India, China, and South Africa. The bank formally opened in July 2015.

India
Source: www.sentinelassam.com

By Dr B K Mukhopadhyay

E-commerce plays a critical role in empowering and establishing small and medium businesses. One of the distinctions that Jack Ma pointed out about Alibaba is that his e-tail giant, when compared with Amazon, supports small business owners and logistics companies pioneering a new B2B2C model that was not seen on such a scale before. Globally, the e-commerce volume amounted to 29 trillion USD in 2017, and increasing applications of ICT and industry 4.0 (automation, intelligent systems, agile, cloud) transformed the nature, scale, and formation of businesses engaged in e-commerce.

E-commerce in BRICS

The emerging nations [Brazil, Russia, India, China and South Africa, i.e., BRICS] have leveraged e-commerce to facilitate rapid, inclusive and sustainable economic growth. It boosts small businesses and creates gig work to generate additional income for many. Both public and private initiatives have supported e-commerce development in rural and remote areas in each of the BRICS countries. Clearly, Indian and Chinese e-tails have raced ahead of others. However, the impact of e-commerce had been rather limited in rural areas or at least evidenced so (far). Disproportionate development of infrastructure in rural and remote regions, limited awareness and education of ICTs, the concept of consumer protection, and the facilities of online dispute resolution are some of the aspects that require some understanding. In addition, how countries represent themselves in the Digital Services Trade Restrictiveness Index (STRI) also matters going forward.

According to UNCTAD figures, the combined volume of e-commerce amounted to 29 trillion dollars in 2017 of which the share of e-commerce in global retail sales had reached 12.2% in 2018. In 2019, e-commerce comprised 14.1% of the global merchandise trade. And in 2023, projections show that this share is forecasted to rise to 22%. When it comes to BRICs, in 2019 Brazil has shown 16% growth in e-commerce, whereas Russia held 18.7%, India with 31.9%, China shared 27.3% and South Africa experienced 25–20% growth in e-commerce in 2017 and 2018 respectively. These came with additional growth opportunities for small and medium businesses as well as transforming logistics operations in these markets and also countries which they trade with. Several studies show that e-commerce also promoted inclusive and sustainable economic growth over time, in particular empowering rural areas. Of the BRICS, China maintains the highest valuable e-commerce market in the group, with a forecast to generate nearly 840 billion US in e-commerce sales revenue by 2021, a significant increase from the previous years. In 2016, China generated 376.2 billion US dollars in revenue from e-commerce sales. That year, the number of digital buyers in China stood at an estimated 468 million.

Delivery and Returns Management

During the pandemic, statistics show that e-commerce brands shipped over 3200 packages per second in 2020. So, for firms who were in the e-mail or any other forms of e-commerce business, it was a good business period albeit with suppliers and logistics pressure. The logistics strategy, therefore, for the e-tails is as important as growth and portfolio diversification strategies that are in place. Most e-tails that are global, of course, manage international e-commerce channels and cross-border shipping – this includes clearing customs, and classifying under the right import fees and taxes categories, all while ensuring customers find a product priced at a competitive level if not entirely at a cost advantage. Warehousing and delivery security management are essential components in this context.

Unitization: It is not only the transportation and warehousing, but the shopping behaviour of customers that can be categorized under 'Unitisation' (simply refers to consumers buying products in small quantities) and therefore packaging of the same has to ensure that the products are easy to handle in logistics terms, do not cost a fortune to pack or handle responsibly (handling charges can surpass shipping charges at times). All while ensuring the products retain the appeal and maintain the saleability aspect.

'Yes, you can return your product within 30 days. No questions asked. 'Product Returns' have a certain USP (unique selling point) appeal in the online shopping experience. Whether the shoes that were delivered happen to be of the wrong size damaged or/ and the wrong item sent, online buyers feel a lot more comfortable shopping freely and 'buy now' when there is an option of easy returns and fully-refundable shopping. Research by the AMA (American Marketing Association) shows that 56% of online shoppers make a choice between 'add to cart' and 'buy now' based on the ease of return policy in place. For certain urgent goods and services, however, this might actually create a lot more hassle than convenience for customers.

'Same-day delivery' gives an e-tail a greater competitive advantage over the rest, e.g., for a conventional physical store/ supermarket – 'location' is a critical factor, similarly for an e-tail, 'delivery time' and 'convenience' are factors that are of primary significance. Delivery time is critical. Therefore, maintaining a strong network and relationship with fulfilment centres in regional hubs would mean faster delivery while also having to pay minimal shipping costs. The other thing to factor in would be the facility location which should ideally be considered in proximity to air and ground small-parcel shipping hubs for speedy delivery. These factors show how instant, reliable shipping with a cost advantage will bid farewell to full truckload shipping.

Customer satisfaction doesn't end when the product or service is returned, but also the following steps – i.e., returns management, returning payments, and acknowledging the steps involved one at a time to ensure transparency and goodwill. 'Returns management' or reverse logistics pose complex challenges at times as well as calls for resource recalibration. Research shows that around 25-30 per cent of all goods purchased online are returned, hence the ability to handle returns can improve customer retention. Research also shows that despite lower incomes, consumers in small and midsized cities spend almost as much online as those in larger, more prosperous cities. Apparel, household products, and recreation and education are the categories where price discounts are greatest. They are also the three largest online retail segments.

Artificial Intelligence (AI)-powered automation is helping firms use data more efficiently and effectively than ever before. AI helps disparate sections of the business communicate and cooperate as one, previously these sections acted in silos. This helps in inventory management, improves warehousing efficiency, and coordinates with modes of transportation much faster with increased predictability (e.g., the warehousing system talks to ships that are arriving early or delayed – and calculates the exact ETA of a delivery).

E-Tail leapfrogging in India

India's e-commerce market is projected to reach the US $111 billion by 2024 and US $ 200 billion by 2026. At its current pace, the Indian e-commerce industry has been on an upward growth trajectory and is expected to surpass the US to become the second-largest E-commerce market in the world by 2034. In 2022, the Indian e-commerce market is predicted to increase by 21.5%, reaching the US $74.8 billion. Additional policy support of allowing 100% FDI is B2B e-commerce tops up the overall potential significantly.

The combined effect of the complexities of store expansion, managing, costing and low returns at shopping malls combined with a distinctive model of e-tailing could lead to a different retail dynamic. Projections show that the e-tail industry in India may leapfrog the second stage, passing directly from the regional to the multichannel one surfeiting newer target demographics and innovative product offerings and delivery models. What's more, e-tailing is not just replacing traditional retail transactions but also stimulating consumption that would not otherwise take place. Finally, e-tailing may catalyse a 'leapfrog' move by the broader retail sector, putting it on a fast track to a more digital future.

Most e-tails aim to be cost leaders rather than differentiators, however, the last mile delivery is still carried out by human labour (and a tiny percentage of these deliveries are by drones in some markets) and this needs continuous attention to ensure staff (largely self-employed, freelancers) are trained regularly and stays motivated. It is essential, therefore, that they are not ignored as they still represent the company's image directly since customers are ultimately asked to 'rate your delivery experience' alongside 'rate your order/ item'. Leading e-tails at this time of history entails embracing an open leadership style where managers are more accessible to employees. Managers are increasingly tech-savvy and need to ensure proper training and development is provided to employees to keep them updated with the latest advancement in deep learning, machine learning, remote sensing, and AI to better streamline workplace productivity and faster response turnover.

Dr B K Mukhopadhyay is a Professor of Management and Economics, formerly at IIBM (RBI) Guwahati.

The Sentinel

India
Source: www.moneycontrol.com

The New Development Bank (NDB) has reached out to India Exim Bank with an offer to co-finance trade infrastructure across the world. While India remains a stakeholder in the multilateral NDB, any prospective partnership will mark the first time that it partners with China, considered to be a major global rival in all forms of multilateral finance, including export credit, and project exports in particular.

"I invite India Exim Bank to identify some priority projects, in trade enabled infrastructure, which involves both the elements of physical infrastructure as well as of technology," NDB President Marcos Prado Troyjo said. Troyjo was virtually attending a summit on project exports organized by India Exim Bank.

Formerly referred to as the BRICS Development Bank, the multilateral development bank was established by five nations namely Brazil, Russia, India, China, and South Africa of the BRICS nation grouping.

Beginning operations in July 2015, the Shanghai-headquartered bank had initially had a slow start. However, it has approved more than $25 billion worth of loans across all the five-member states since then.

Stressing on the importance of financing trade infrastructure projects with technological aspects, Troyjo said manufacturing is globally leading to 'mindfacturing' in the export space. Referring to trade in services, knowledge, and digital goods, Troyjo said global flows of these have only accelerated in the post-pandemic scenario.

He also added that the NDB is interested in doing more projects on a co-financing basis. Both the proposals were welcomed by India Exim Bank Deputy Managing Director N Ramesh, who was moderating a session involving global trade financing and multilateral bank representatives.

The NDB has so far approved 18 projects in India worth a total of $7 billion in transportation, infrastructure, and ground-level renewable energy projects. Interestingly, it has also approved $2 billion worth of funds under the Emergency Assistance Program in Combating COVID-19.

Project exports

The summit organized by India Exim Bank was called to address the challenges facing Indian project exports and how they can prosper in the current window of opportunity when there is a growing impetus on infrastructure projects globally.

Project exports refer to the setting up of engineering, construction, or infrastructure projects overseas on deferred payment terms, which lead to the execution of turnkey projects abroad. The government has flagged the need for Indian firms to take advantage of the situation whereby countries around the globe are increasing infrastructure investment to catalyze economic activity in the wake of the pandemic.

Case in point, multilateral development banks have also mobilized huge financial resources to support infrastructure development and economic recovery in countries globally.

Project exports are crucial to not only earning foreign exchange but also serve as a diplomatic tool for India. It is important in projecting India's economic power and the strength of its engineering and construction sectors overseas.

This method has been perfected by neighboring China, which has blanketed the African continent with major civil engineering projects. These include railways, like the $3.2-billion Nairobi to Mombasa train line in Kenya, urban rapid transport systems like the $3.4-billion Addis Ababa metro in Ethiopia's capital, hydroelectric power plants like the Merowe Dam in Sudan, Imboulou dam in Congo and a string of highways across Sub-Saharan Africa.

Most Chinese projects are undertaken by Chinese state-run construction majors backed by the government flushed with cash. The projects are modeled on cheap long-term loans with tricky repayment conditions.

Indian push

As a result, the Exim Bank has continuously been pushed by the Commerce Department and the Ministry of External Affairs to ramp up its finance of project exports.

India Exim Bank has increasingly focussed on project exports in recent years, prioritizing it as a category given its massive potential, Ramesh said. In FY20, it supported 38 project export contracts valued at $2.8 billion under its commercial window.

Project exports depend on the securing of rights to develop major projects overseas which depend heavily on the volatile nature of global investment flows, political climate and pace of government contracts being awarded.

The possibility of project exports from any country, in general, is determined by the state of its economic and technological advancement on one hand, and ongoing global development on the other. From India, project exports touched a high of $8.27 billion in FY17 but had slumped to $4.23 billion in FY20, just before the pandemic hit.

The bank's loan disbursements stood at Rs 341.2 billion in FY21, up from the Rs 337.35 billion in FY20, but still lower than the Rs 366.60 billion worth of disbursements made during FY19.

Money Control

China
Source: brics2022.mfa.gov.cn

On May 19, 2022, the BRICS Political Parties, Think Tanks and Civil Society Organizations Forum opened in Beijing via video link. General Secretary of the CPC Central Committee and President Xi Jinping sent a congratulatory letter to the forum.

Xi Jinping pointed out, currently, the global economic recovery remains fragile and sluggish, the development gap is widening, and the world is facing severe challenges such as climate change and digital governance. BRICS countries should stay true to the founding mission and bear in mind the cooperation mission, and work with other developing countries to promote the international community to rise to challenges through solidarity and open up brighter and better prospects for development. China is ready to work with other countries, including BRICS countries, to accelerate the implementation of the UN 2030 Agenda for Sustainable Development, steadily push for the implementation of the Global Development Initiative, and jointly build a global community of development with a shared future.

Xi Jinping stressed, he hopes that political parties, think tanks and civil society organizations of BRICS and other developing countries will fulfill their responsibilities, deepen communication and exchanges, and contribute wisdom and strength to achieving common development across the world and building a community with a shared future for mankind.

The BRICS Political Parties, Think Tanks and Civil Society Organizations Forum was co-hosted by the China Council for BRICS Think Tank Cooperation and China NGO Network for International Exchanges under the guidance of the International Department of CPC Central Committee. President of the African National Congress and South African President Cyril Ramaphosa, President of Justicialist Party and Argentine President Alberto Fernandez, President of the Cambodian People's Party and Prime Minister of Cambodia Hun Sen, General Chairwoman of Indonesian Democratic Party of Struggle and former Indonesian President Megawati Sukarnoputri and others extended congratulations to the forum via video link or in a written form. More than 130 political party leaders as well as representatives of think tanks and civil society organizations from 10 countries participated in the forum online.