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The Concept of BRICS Plus-A New Impetus for South-South Cooperation
2017/09/25
 

 In September, the article The Concept of BRICS Plus-A New Impetus for South-South Cooperation Signed by Chinese Ambassador H.E Song Yumin was published in Guardian,Newsday and Daily Express.

The Concept of BRICS Plus

-A New Impetus for South-South Cooperation

 

Earlier this month, the ninth BRICS Summit was held in Xiamen, China. As the rotating president of BRICS this year, China has done considerable and fruitful work in promoting annual BRICS cooperation and future development. China proposed the new concept of BRICS Plus, hosted the Dialogue of Emerging Market and Developing Countries, and conducted in-depth discussions under the theme of "Strengthening Mutually-Beneficial Cooperation for Common Development". The BRICS Plus cooperation model further expands BRICS' circle of friends, which will continuously enhance the vitality of BRICS' cooperation and make the cooperation and development of emerging market and other developing countries more closely linked.

BRICS is the bellwether among emerging market countries. In 2001, the term "BRIC" was coined by Jim O'Neill, the chief economist of Goldman Sachs. In September, 2006, the foreign ministers of Brazil, Russia, India and China held talks in New York City during the UN General Assembly, marking the BRIC cooperation mechanism formally formed. In 2010, the induction of South Africa turned BRIC into BRICS.

After 10 years of rapid development, BRICS cooperation, starting from nothing, has become an important engine for the growth of world economy and a strong boost for the reform process of global governance. Compared with that of 10 years ago, the BRICS' weight in the global economy rose to 23%, up from 12% and its trade volume increased from 11% to 16%. The life quality of 3 billion people has been improved. For 10 years, the power of BRICS cooperation has also become the model of pursuing development through unity and achieving mutual benefits and win-win results among developing countries.

Today, the BRICS cooperation has entered a new historical stage. The Xiamen Summit is significant in inheriting the past and ushering in the future. The five BRICS leaders issued a joint Xiamen Declaration, comprehensively summarizing the successful experience of a 10-year BRICS cooperation, further building consensus and mapping out a new blueprint for the next golden decade.

The concept of BRICS Plus was proposed by China as a new model of strengthening mutually-beneficial cooperation and promoting common development between BRICS and other emerging market and developing countries. It aims at striving towards broad partnerships, strengthening dialogue and cooperation and promoting common development and prosperity in a broader realm. China takes specific actions to deepen South-South cooperation with the promise of providing 500 million US dollars and 40,000 training opportunities in China to other developing countries within the South-South cooperation framework.

The BRICS Plus cooperation model objectively provides new impetus and platform to the development of pragmatic cooperation between China and Trinidad and Tobago. Both being developing countries, our two countries have profound traditional friendship and cooperation relations. Together faced with the strategic task of adjusting economic structure and improving development quality in the new period, China and Trinidad and Tobago's development goals are well-aligned. At present, our two countries are actively increasing complementarity between the Belt and Road Initiative and the national development strategy of Trinidad and Tobago. I believe, the BRICS Plus cooperation model will give new impetus to the bilateral pragmatic cooperation between China and Trinidad and Tobago.

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