Our discussions reflected our growing intra-BRICS solidarity as well as our shared goal to contribute positively to global peace, stability, development and cooperation. We also considered our role in the international system as based on an inclusive approach of shared solidarity and cooperation towards all nations and peoples. We met at a time which requires that we consider issues of mutual interest and systemic importance in order to share concerns and to develop lasting solutions. We aim at progressively developing BRICS into a full-fledged mechanism of current and long-term coordination on a wide range of key issues of the world economy and politics. The prevailing global governance architecture is regulated by institutions which were conceived in circumstances when the international landscape in all its aspects was characterised by very different challenges and opportunities. As the global economy is being reshaped, we are committed to exploring new models and approaches towards more equitable development and inclusive global growth by emphasising complementarities and building on our respective economic strengths.
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The declaration has an assertive ring to it: "We aim at progressively developing BRICS into a full-fledged mechanism of current and long-term coordination on a wide range of key issues of the world economy and politics.
This is a major step towards institutionalizing cooperation: "Following the report from our Finance Ministers, we are satisfied that the establishment of a New Development Bank is feasible and viable. We have agreed to establish the New Development Bank.
The downside is clearly that neither initiative is strengthened by more specific information or a timeline. This is, particularly regarding the contingency fund, a certain disappointment. The affirmation that "next Director-General of the WTO should be a representative of a developing country" is a success of sorts for Brazil, which fields a strong contender. Yet seven of the nine candidates are from developing countries, which provides the other BRICS countries wiggle room to support someone else.
At the same time, Small and Medium Enterprises are also mentioned Paragraph 20 states that "China and Russia reiterate the importance they attach to the status of Brazil, India and South Africa in international affairs and support their aspiration to play a greater role in the UN. Brazilian foreign policy makers are probably right to have focused on issues other than UNSC reform since Rousseff became president.
Paragraph 26 strikes a balance between Russian interests regarding Syria opposing any further militarization of the conflict and civil society, which had urged the Brazilian and South African government in particular to include a call to "allow and facilitate immediate, safe, full and unimpeded access to humanitarian organisations to all in need of assistance.
Most notable, perhaps, is the possible creation of a "virtual Secretariat" under the section "New areas of cooperation to be explored" - policy analysts and academics from all BRICS countries should now use the coming year to develop the suggestions made in the last part of the declaration further and enrich the debate with proposals - for example about what a virtual BRICS Secretariat should do.
The eThekwini Declaration: An analysis
eThekwini Action Plan: