The role of the BRICS countries has again become important amongst the consequences of the pandemic, geopolitical tensions and economic challenges, as it was in the early years of the association's existence after the 2008 global financial crisis. Indian Prime Minister Narendra Modi said this speaking at the BRICS Business Forum, which takes place as part of the association's summit in Johannesburg.
"In 2009, when the first BRICS summit was held, the world was just coming out of a massive financial crisis. At that time BRICS emerged as a ray of hope for the global economy. In the present times also amongst the covid pandemic, tensions and disputes the world is dealing with economic challenges. In such times once again the role BRICS countries is important," Modi said.
The 15th BRICS Summit (Brazil, Russia, India, China, South Africa) kicked off in Johannesburg. The leaders of the BRICS countries are participating in a business forum organized by South Africa, which chairs the BRICS Business Council. Representatives of numerous companies and investment funds of the BRICS countries, as well as a number of African states and international financial and economic organizations, gathered in the meeting room of the Sandton International Conference Center.
The summit is the largest meeting of heads of state and government of the Global South in recent years. The invitees included the leaders of 54 African countries. Russian President Vladimir Putin is to take part in the summit via video link. The Russian side at the summit will be represented in person by Russian Foreign Minister Sergey Lavrov.