BRICS facilitates global multilateral co-op

MOSCOW - The BRICS group, comprising five emerging economies, has facilitated multilateral cooperation in the world, says a Russian special envoy to BRICS.

After four years of development, BRICS has transformed itself from a political idea into a tangible symbol of a multipolar world, Vadim Lukov, the foreign ministry's special envoy to BRICS, told Xinhua during a recent interview.

Russia believes the BRICS members - Brazil, Russia, India, China and South Africa - could upgrade the bloc from a dialogue forum into a full-fledged mechanism of strategic cooperation in key political and economic areas, Lukov said.

"So far, we haven't fully exploited BRICS' advantages, including its unique domestic markets of over 2.8 billion consumers, rich natural resources, rapidly growing scientific and technological potential," Lukov said.

It is reasonable, he said, to highlight "African ascend" at the upcoming BRICS summit held in Durban, as BRICS countries are eager to strengthen partnership with African countries so as to take full advantage of the continent's dynamic growth.

Other issues to be dealt with at the summit include international security, global governing mechanism, reform of the international financial system, ways of furthering cooperation among BRICS members, Lukov said.

As for the idea of establishing a BRICS Development Bank, Lukov said Russia stands for the proposal as it will become a new financing tool for BRICS countries.

Meanwhile, Russia expects that its participation in the bloc will help speed up its own economic modernization and expand markets for its agricultural products.

China, the largest economy in the bloc, plays an "expressively important" role in BRICS, Lukov said.

"China's approach to BRICS is characterized by a deep understanding of the significance of creating a new multi-polar international system. Russia-China cooperation within BRICS is one of the important engines of its development," he said.

According to the official, the potential for future cooperation among BRICS countries is huge. First, he said, common aspirations bind the countries together to reform the current global system, which doesn't reflect the reality of the multi-polar world.

In addition, they are confronted with common challenges of modernizing their economies, which are mutually complementary.

"We should use all these strategic factors to strengthen centripetal forces in BRICS and to nullify centrifugal ones," he noted.

In response to the allegation that the bloc's global clouts are fading due to its members' slowing economic growth, Lukov believes BRICS remains a locomotive of global economy.

To further promote BRICS's influence on global economy, each member should facilitate its growth and support each other for common prosperity, he said.