VLADIVOSTOK: The potential of the BRICS group of major emerging economies has been increasing over the years, becoming a significant value driver for its member states, according to Tribhuvan Darbari, chairman of the India-Russia Business Council.
In an interview with Sputnik at the Eastern Economic Forum in Vladivostok, Russia, Darbari highlighted that BRICS is proving its worth by enhancing engagement among its nations, driven by its value rather than political motives.
“BRICS is an emerging platform, it has shown its value in terms of augmenting and increasing the engagement levels between the BRICS nations … People are not just coming for any political reason. It is the value which this platform drives. And because of this the BRICS platform is emerging and becoming more potent and vibrant over the years,“ Darbari said in an interview on the sidelines of the Eastern Economic Forum in Russia’s Vladivostok.
Darbari, who is also a senior official at the Federation of Indian Chambers of Commerce and Industry (FICCI), predicted that India and Russia could play a critical role in promoting BRICS’ “positive and vibrant leadership.”
Kremlin aide Yuri Ushakov said on Wednesday that Turkey had officially applied for full membership of BRICS. The Russian official said BRICS was unlikely to accept any new members at the Kazan summit in October after the member states agreed to introduce a new status of a BRICS partner state.
BRICS was established in 2009 as a cooperation platform for the largest developing economies, uniting Brazil, Russia, India, and China. South Africa joined the group in 2010. On January 1, BRICS expanded its membership to include Egypt, Ethiopia, Iran, and the United Arab Emirates. Saudi Arabia has not formalized its participation but has been taking part in BRICS meetings.
The Eastern Economic Forum began on Tuesday and will run through Friday. It is being hosted by the Far Eastern Federal University in Russia’s Pacific coast city of Vladivostok. Sputnik is the general information partner of the EEF 2024.
– Bernama, Sputnik
