BRICS stands for rules based on multilateralism and governance, South Africa’s International Relations and Cooperation Minister Naledi Pandor said here on Wednesday.
Pandor made the remarks while giving a lecture on the topic of “South Africa’s place in the changing global order” at the Wits School of Governance on Wednesday evening.
She said BRICS is opposed to unilateralism, populism, regime change and protectionism but shares global governance.
“BRICS nations have shown unshakable confidence in and reinforce support for the rules-based international system and for multilateralism. We believe that BRICS is an important forum for global political, economic and financial partnership and for promotion for the world that is equitable, balanced and shaped on the important pillars of multilateralism and international law,” said Pandor.
She said that BRICS represents potential powerful countries that could be a strong voice opposed to “unipolarity and unilateralism,” adding that despite the drawback caused by COVID-19, they continue to work together as BRICS members.
“The BRICS parties have come together to act in concert against the pandemic and to provide support for each other during this difficult time. We are currently working on renewing BRICS economic partnership strategy in order to ensure that we secure greater cooperation in various economic sectors,” Pandor said.
BRICS is an acronym for five major emerging countries — Brazil, Russia, India, China and South Africa, which together represent about 42 percent of the global population, 23 percent of global GDP, 30 percent of world territory and 18 percent of global trade.