Pretoria – President Jacob Zuma says the combined demographic dividend of BRICS nations represents a real advantage for future growth.
The President on Sunday addressed a BRICS leaders’ plenary session at the 8th BRICS [Brazil, Russia, India, China and South Africa] Summit in Goa, India.
“It is our responsibility to harness our collective strength to improve the conditions of our people. In this regard, BRICS countries should become centres of cultural innovation, exchange and creativity, driven by people-to-people interaction,” said President Zuma.
The BRICS grouping accounts for an overall GDP of $16 trillion. More than 40% of the BRICS economies are driven by the micro, small and medium enterprises (MSME) sector, according to government estimates.
President Zuma encouraged the development of new and indigenous knowledge systems and knowledge sharing initiatives among the BRICS countries.
The BRICS Think Tanks Council has recommended that BRICS should consider an innovative framework for the governance of new spaces and commons, notably outer space, deep ocean and the internet. President Zuma said these areas of knowledge should be used to serve humanity, especially the most deprived citizens.
“There is a need to empower vulnerable groups who are most impacted by poverty, climate change and the global economic crisis, among other challenges,” he said.
President Zuma also attended a dialogue between BRICS and BIMSTEC [Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation] leaders on emerging economy cooperation.
He told the session that the BRICS-BIMSTEC partnership can thrive through strengthening cooperation in the areas of training, scholarships and research facilities, specifically in the educational, professional and scientific fields.
“Each of our countries has niche areas of expertise and enjoy comparative advantages within specific fields. Cross fertilisation, the exchange of ideas, joint projects and skills training can go far in promoting economic development and social progress in the BRICS and BIMSTEC countries.”
President Zuma also welcomed the cooperation between BRICS and BIMSTEC in endeavours to reform the existing global order and the global system of governance.
“This paradigm is outdated, undemocratic and unfair when seen against the background of contemporary realities.”
He said BRICS and BIMSTEC can work together to push for the reform of the United Nations and Bretton Woods Institutions. - SAnews.gov.za
