Video: BRICS economic influence reshaping global development- NAN MD
By Nana Musa
Ali M. Ali, Managing Director of the News Agency of Nigeria (NAN) says the growing influence of the BRICS nations is shaping global governance, economic development, and international relations.
During a presentation at the 7th BRICS Media Forum on Wednesday in Rio de Janeiro, Brazil, Ali said that the group’s impact was already felt in the global economy and geopolitical scenes.
‘’With nearly 40% of the world’s population and 25% of global GDP, BRICS is the place to be. We are not just a grouping of emerging economies; we are a force to be reckoned with. And our influence is growing by the day.’’
Ali said that the BRICS countries now contribute 40 per cent of global manufacturing output with 42 per cent of world wheat, 52 per cent of rice and 46 per cent of soybeans.
‘‘Our GDP is a whopping $63.2 trillion, surpassing the G7’s $52.3 trillion.
‘’The International Monetary Fund (IMF) forecasts that the world economy is set to rely more on BRICS to drive growth over the next five years, with China alone contributing 22% global growth -bigger than all the G7 countries combined.’’
Ali said that with more than 10 countries already joining as partner nations and over 30 interested in joining BRICS cooperation, the group’s influence is widely growing.
‘’Beijing-based international affairs commentator, Vox South, offers a profound insight on this phenomenon, saying the most compelling reason for the growing influence of BRICS is its composite strength.’’
Ali said Nigeria is strategically positioned to join the group because of its position in Africa as well as interest to reshape global governance, challenge Western-dominated institutions, and push for systemic reforms.
‘’Our partnership with BRICS is built on three key pillars. First, we see BRICS as a natural fit for Nigeria, given our shared goals and values.
‘’Second, we are keen to reduce our dependence on the US-centric international system and promote a multipolar world.
‘’Third, joining BRICS helps us position ourselves as an emerging power on the global stage.
‘’This resonates with the Renewed Hope Agenda of President Bola Ahmed Tinubu which transformative policy thrust is aimed at repositioning Nigeria as a prime global investment destination.
‘’The BRICS voice is, indeed, loud and clear. We envision a prosperous Global South and a more just and equitable world,’’ Ali said.(NAN)(www.nannews.ng)
Edited by Ismail Abdulaziz
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