Modi says BRICS mutual cooperation could contribute to post-COVID global recovery

New Delhi, June 23, 2022

Pointing out that the BRICS countries had a very similar view of the governance of the global economy, Prime Minister Narendra Modi today said their mutual cooperation could make a useful contribution to post-COVID global recovery.

"Over the years, we have made a number of institutional reforms in BRICS, which have increased the effectiveness of this organization," Modi said in his opening remarks at the 14th BRICS Summit hosted in the virtual format by China.

"It is also a matter of happiness that the membership of our New Development Bank has also increased," he said.

Modi began by congratulating all the member-countries for the spectactular events held by them on the International Day of Yoga on June 21.

He said it was for the third year in a row that they were meeting virtually because of the COVID-19 pandemic.

"Even though the scale of the epidemic has reduced globally than before, however many of its ill effects are still visible in the global economy," he stressed.

The Prime Minister said there were many areas where the lives of their citizens were getting directly benefited from their mutual cooperation.

"For example, establishment of vaccine R&D center, coordination among custom departments, establishment of shared satellite constellation, mutual recognition of pharma products, etc.

"Such practical steps make BRICS a unique international organization whose focus is not just limited to dialogue.

"BRICS Youth Summits, BRICS Sports, and increase in exchanges amongst our civil society organizations and think-tanks have strengthened our people-to-people contact.

"I am confident that today's discussion will bring out many suggestions to further strengthen our BRICS ties," he added.

BRICS is a grouping of Brazil, Russia, India, China and South Africa.

Apart from Modi, the summit is being attended by Chinese President Xi Jinping, Russian President Vladimir Putin, South African President Cyril Ramaphosa and Brazilian President Jair Bolsonaro.

NNN