BRICS brings greater balance to global governance

World
Europe

The BRICS countries as a group are playing "a key role" in bringing greater balance to global governance in an increasingly more plural and diverse world, said Mexican President Enrique Pena Nieto.

Since BRICS members began to meet annually eight years ago, "we have seen important progress in the goals it set, particularly in the area of cooperation and coordination in multilateral forums on economic and political governance," he told Xinhua in a recent interview.

The Mexican leader is going to China to attend a Dialogue of Emerging Markets and Developing Countries during the upcoming ninth summit of the BRICS bloc of emerging nations, which includes Brazil, Russia, India, China and South Africa.

China has invited Egypt, Kenya, Tajikistan, Mexico and Thailand as guest countries for the BRICS summit under its "BRICS Plus" approach.

Photo taken on Aug. 31, 2017 shows a logo sculpture of the ninth BRICS Summit at Xiamen International Conference and Exhibition Center in Xiamen, southeast China's Fujian Province. /Xinhua Photo

"In addition, we see they (BRICS countries) have focused on innovative collaboration projects, such as the New Development Bank (NDB)," said the president.

The Shanghai-based NDB was created to supplement traditional West-led lending institutions, including the World Bank and International Monetary Fund, both based in Washington.

Mexico values China's different development initiatives, including efforts to promote cooperation among emerging economies, between China and Latin America and with developing countries on the Belt and Road Initiative, he said.

To drive development cooperation with Latin America, China spearheaded an alliance with the region's largest bloc, the Community of Latin American and Caribbean States (CELAC). The first China-CELAC ministerial meeting was held in Beijing in January 2015.

The Forum of China and the Community of Latin American and Caribbean States (CELAC) holds the first ministerial meeting in Beijing, Jan. 8, 2015. /Xinhua Photo

That partnership has "great potential" to deepen ties between the two sides, especially in tackling global challenges, noted Pena Nieto.

"In Mexico, we recognize China's interest in continuing to strengthen ties with Latin America, and the China-CELAC Forum as one of the most important existing mechanisms for cooperation," said Pena Nieto.

China's larger development push, known as the Belt and Road Initiative, stands to boost not just cooperation, but also trade, tourism and cultural exchange between different parts of the globe, according to Pena Nieto.

Chinese President Xi Jinping proposed the initiative in 2013, which includes building the Silk Road Economic Belt and the 21st Century Maritime Silk Road. Over 100 countries and international organizations have expressed support for or participated in the initiative, and investments from the Silk Road Fund have amounted to more than 4 billion US dollars.

"Mexico welcomes all initiatives oriented towards greater opening up and bridge-building between countries, as well as projects designed to complement national, regional and multilateral efforts in cooperation and development," he said.

Pena Nieto said he recognized the value of bolstering infrastructure, a goal he has pursued nationally, since "it allows us to consolidate ourselves as a platform that facilitates connectivity in the Americas."

Mexico is also "committed to free trade," a leading Belt and Road objective, as it "generates more better quality jobs, competitiveness and opportunities, especially for small and medium-size companies," said Pena Nieto.

"Diversifying our foreign trade is one of the pillars of our trade policy," he said.

12474km

Source(s): Xinhua News Agency