[🇧🇩] BRICS---Can Developing Countries Including Bangladesh Benefit From It?

[Saif]

Source : https://www.thedailystar.net/news/world/news/china-urges-greater-brics-role-western-sanctions-mount-3632691

China urges greater BRICS role as Western sanctions mount

China has urged the BRICS bloc of nations to take on greater responsibilities and establish itself as being inclusive to the world, Foreign Minister Wang Yi said yesterday, in the wake of Western sanctions and trade restrictions imposed on the country.

Many Chinese companies have faced Western sanctions over their support for Russia's war in Ukraine, and the European Commission is set to announce tariffs this week on Chinese EVs in a bid to protect European carmakers.

This week, the Group of Seven wealthy democracies is expected to send a tough warning to smaller Chinese banks to stop helping Russia evade Western sanctions, Reuters reported, citing sources.

 

[Saif]

undefined | The Financial Express

thefinancialexpress.com.bd

Bangladesh seeks India's support to join BRICS under any format: FM
Published :
Jun 22, 2024 20:51
Updated :
Jun 22, 2024 20:52

Bangladesh has sought support from India to join BRICS under any format, either as a member or a partner country, said Foreign Minister Hasan Mahmud on Saturday.

"We've sought support from India to join BRICS under any format," he said while briefing reporters about the outcomes of Prime Minister Sheikh Hasina's engagements, including her bilateral meeting with Indian Prime Minister Narendra Modi in New Delhi, reports UNB.

The Bangladesh foreign minister said India responded positively in this regard (overextending help towards Bangladesh to join BRICS).

If BRICS decides to add new members or partner countries, Bangladesh wants to be associated with BRICS anyway, he said.

BRICS is an intergovernmental organisation with nine member states: Brazil, Russia, India, China, South Africa, Iran, Egypt, Ethiopia, and the United Arab Emirates.

The Bangladesh prime minister arrived here on Friday on a two-day state visit to India at the invitation of her Indian counterpart Narendra Modi.

Sheikh Hasina had a tête-à-tête (one-to-one meeting) with Modi, led the Bangladesh delegation at a bilateral meeting, and witnessed the exchange of 10 Memoranda of Understanding (MoUs), including two shared visions and three renewed MoUs at Hyderabad House.

To read the rest of the news, please click on the link above.​

 

[Saif]

Algeria joins BRICS Bank

Algeria has been approved for membership in the BRICS New Development Bank (NDB), the country’s finance ministry has announced.

www.thedailystar.net

Algeria joins BRICS Bank

Algeria has been approved for membership in the BRICS New Development Bank (NDB), the country's finance ministry has announced.

The decision was taken on Saturday and announced by NDB chief Dilma Roussef at a meeting in Cape Town, South Africa.

By joining "this important development institution, the financial arm of the BRICS group, Algeria is taking a major step in its process of integration into the global financial system," the Algerian finance ministry said in a statement

The bank of the BRICS group of nations -- whose name derives from the initials of founding members Brazil, Russia, India, China and South Africa -- is aimed at offering an alternative to international financial institutions like the World Bank and IMF.

Algeria's membership was secured thanks to "the strength of the country's macroeconomic indicators".

Created in 2015, the NDB's main mission is to mobilise resources for projects in emerging markets and developing countries. It has welcomed several country as new members, including Egypt, the United Arab Emirates, Iran and Saudi Arabia.​

 

[Saif]

Xi to attend BRICS

Chinese President Xi Jinping will attend the BRICS summit in Russia next month, China’s foreign minister announced yesterday.

www.thedailystar.net

Xi to attend BRICS

Chinese President Xi Jinping will attend the BRICS summit in Russia next month, China's foreign minister announced yesterday.

The summit of emerging economies will be held from October 22 to 24 in the southwestern Russian city of Kazan, in what the Kremlin hopes will be a chance to expand its influence and forge closer economic alliances, especially with Beijing.

The BRICS group, an acronym for Brazil, Russia, India, China and South Africa, represents almost half the world's population and has since expanded to include other major emerging economies including the United Arab Emirates and Iran.​

 

[Krishna with Flute]

More such kind of forums means more decentralization and freedom from dominance of few powerful countries. It is particularly more beneficial for the countries whose voices are not heard.

 

[Bilal9]

undefined | The Financial Express

thefinancialexpress.com.bd

Bangladesh seeks India's support to join BRICS under any format: FM
Published :
Jun 22, 2024 20:51
Updated :
Jun 22, 2024 20:52
View attachment 6566

Bangladesh has sought support from India to join BRICS under any format, either as a member or a partner country, said Foreign Minister Hasan Mahmud on Saturday.

"We've sought support from India to join BRICS under any format," he said while briefing reporters about the outcomes of Prime Minister Sheikh Hasina's engagements, including her bilateral meeting with Indian Prime Minister Narendra Modi in New Delhi, reports UNB.

The Bangladesh foreign minister said India responded positively in this regard (overextending help towards Bangladesh to join BRICS).

If BRICS decides to add new members or partner countries, Bangladesh wants to be associated with BRICS anyway, he said.

BRICS is an intergovernmental organisation with nine member states: Brazil, Russia, India, China, South Africa, Iran, Egypt, Ethiopia, and the United Arab Emirates.

The Bangladesh prime minister arrived here on Friday on a two-day state visit to India at the invitation of her Indian counterpart Narendra Modi.

Sheikh Hasina had a tête-à-tête (one-to-one meeting) with Modi, led the Bangladesh delegation at a bilateral meeting, and witnessed the exchange of 10 Memoranda of Understanding (MoUs), including two shared visions and three renewed MoUs at Hyderabad House.

To read the rest of the news, please click on the link above.​

Modi turned down Bangladesh' membership in BRICS I believe. Some friend !!

Some in Bangladesh spun it as "we really didn't want it"....to save face for Hasina.

https://www.dhakatribune.com/bangladesh/323425/brics-expansion-why-bangladesh-could-not-make-it

 

[Krishna with Flute]

There should be more and more such multilateral forum so that monopoly of few countries can be checked. Small countries should have more forum to choose where they can align and which forum serves the best interest of their nation.

 

[Saif]

Pak calls for expansion of BRI at SCO summit

Pakistan’s Prime Minister Shehbaz Sharif yesterday called for the expansion of China’s Belt and Road Initiative (BRI) to enhance regional cooperation at a meeting of the Shanghai Cooperation Organisation (SCO) in Islamabad.

www.thedailystar.net

Pak calls for expansion of BRI at SCO summit
Indian FM supports regional cooperation but stresses mutual respect as well as territorial integrity

Pakistan's Prime Minister Shehbaz Sharif yesterday called for the expansion of China's Belt and Road Initiative (BRI) to enhance regional cooperation at a meeting of the Shanghai Cooperation Organisation (SCO) in Islamabad.

He was addressing a heads of government meeting of the SCO, a Eurasian security and political group formed in 2001, being attended by officials from 11 countries, including host Pakistan, China, Russia and India.

"Flagship projects like the Belt and Road Initiative of President Xi Jinping...should be expanded focusing on developing road, rail and digital infrastructure that enhances integration and cooperation across our region," Sharif said in his speech as the chair of the meeting.

The BRI is a $1 trillion plan for global infrastructure and energy networks that China launched a decade ago to connect Asia with Africa and Europe through land and maritime routes. More than 150 countries, including Russia, have signed up to participate in BRI since Xi unveiled it.

Also in attendance was India' External Affairs Minister Subrahmanyam Jaishankar, who is the first Indian foreign minister to visit Pakistan in nearly a decade with ties between the nuclear-armed rival neighbours continuing to be frosty.

No bilateral meeting has been planned, both sides have said, although Sharif and Jaishankar did have a short talk when the Indian official attended a dinner hosted by the premier last night.

Jaishankar, in his speech at the meeting, congratulated Pakistan on the presidency of the SCO's Heads of Government Council and extended India's "full support" to Islamabad.

He said India supported regional cooperation but added that mutual respect as well as territorial integrity and sovereignty were essential.

"If activities across borders are characterized by terrorism, extremism and separatism, they are hardly likely to encourage trade, energy flows, connectivity and people-to-people exchanges in parallel," he said in his speech.​