Johannesburg, South Africa: Three days BRICS summit (25 – 27 July) concluded in South Africa, where numerous issues were discussed comprising business, security and humanitarian issues. Replying on question regarding future expansion of BRICS, Russian President Vladimir Putin said, “We have no plans to expand BRICS membership, since the existing formats have proven effective. This does not mean that the organization is closed, that its doors are closed. No, it is just that this issue should be properly analysed. Otherwise, the organization is open to anyone. As for our discussions and the issues we intend to address, these are issues relevant for a vast majority of countries and economies around the world. The sky is the limit for us. The same applies to politics and security.”
In the wake of restrictive trade and protectionism, the BRICS nations also said they want a fairer, more representative global order in diplomacy and trade just as China, the biggest member, faces billions of dollars of extra US tariffs. They also want reforms at the UN, the UN Security Council and the International Monetary Fund (IMF) to better represent developing nations, and have asked that members of the World Trade Organisation (WTO) — including the US — abide by WTO rules as the multi-lateral trading system faces “unprecedented challenges”.