China’s ambassador to South Africa, Ambassador Tian Xuejun, shares his views on the outcomes of this month’s Brics Summit in Ufa, Russia.
What outcomes do you think the 7th Brics Summit achieved?
The theme for the 7th Brics Summit was “Brics Partnership – A Powerful Factor of Global Development”.
Chinese President Xi Jinping put forward a four-point proposal of building a partnership for world peace, common development, inter-civilisation dialogue, and more effective global economic governance. Well received by the other Brics members, the proposal further defines Brics’ nature, mission and future direction. With concerted efforts from all sides, this year’s summit has yielded fruitful results.
First, the Brics New Development Bank (NDB) and Contingent Reserve Arrangement (CRA) were launched formally.
A year ago, Brics leaders witnessed the signing of the Agreement on the New Development Bank in Fortaleza of Brazil. Only one year later, the preparation for the bank has been completed, which reflects “Brics speed” as well as the vitality and efficiency of this mechanism.
Second, the summit charted the road map for economic and trade co-operation among Brics countries before 2020 by adopting the Strategy for a Brics Economic Partnership to build Brics into a community of shared interests featuring an integrated market; land, sea and air links; and greater cultural exchanges.
Third, the political partnership of Brics countries has been further cemented. Brics leaders had in-depth discussions and reached broad consensus on a series of major international issues
In addition, Brics countries signed documents on boosting cultural co-operation and the set-up of a joint Brics website, with the aim to achieve progress in Brics co-operation and institution building.
On the whole, this summit has consolidated the Brics partnership, promoted practical co-operation and showcased
commitment to promoting democracy in international relations, which will undoubtedly inject strong impetus into world development and co-operation.
What kind of role has Brics been playing since its inception?
Over the past years, Brics has come a long way in promoting democracy in international relations and world economic development.
Brics countries have stood for international equity and justice, spoken with one voice for emerging markets and developing countries on various international and regional issues, called for full compliance with the purpose and principles of the UN Charter, international law and basic norms of international relations, and pushed for peaceful settlement of international disputes through political and diplomatic means.
Brics countries have worked to boost world economic growth and improve global economic governance. We have enhanced the representation and voice of emerging markets and developing countries in international economic and financial affairs, and instilled new momentum to the World Bank, the International Monetary Fund and other international financial institutions.
Brics countries have expanded the scope of co-operation and put in place a multi-layered and all-dimensional structure of co-operation covering political, economic, financial, trade, social, cultural and people-to-people exchanges. We have launched NDB and the Contingent Reserve Arrangement, which testifies to the effectiveness and capability of Brics co-operation.
This summit was themed “Brics Partnership”– how do you think Brics can forge such a partnership?
The Chinese side believes the Brics partnership should be deepened in the spirit of openness, inclusiveness, co-operation and mutual benefit. We need to build a partnership for world peace. Brics countries should advocate common, comprehensive, co-operative and sustainable security and work in concert to address such global challenges as terrorism and narcotic drugs.
Brics countries ought to promote democracy in international relations and support settling disputes through dialogue and negotiation by political and peaceful means.
We need to build a partnership for common development.
We should form a Brics community of shared interests.
For the purpose of building a value chain of shared benefits and a big market of integrated interests, we should jointly build an even closer economic partnership.
Brics needs to stay committed to promoting common development and common prosperity of all developing nations and safeguarding the common interests of emerging and developing countries on such major issues as the post-2015 Development Agenda and climate change.
Brics should stay open and inclusive so as to learn from each other and make progress together through seeking common ground while shelving differences. Brics countries should conduct dialogue and exchanges, as well as share the fruits of co-operation with other countries and international organisations. We should foster unity and co-operation with other emerging markets and developing countries.
We need to build a partnership for more effective global economic governance. Brics countries should work together to enhance their stature and role in the global governance system, and keep the international economic order apace with the upward trend of developing countries. Brics countries should push forward the reform of the governance structure of the IMF and increase the representation and voice of developing countries.
The Brics bank’s board of governors held its first meeting in Moscow prior to this summit. What impact will the NDB have on the development of the international economic system?
NDB was born out of the need for the enormous funds for infrastructure development globally, especially and urgently from developing countries. Complementary to the existing multilateral financial institutions including the World Bank and African Development Bank, the NDB will focus on the financing demand of developing countries for infrastructure building and help with sustainable and inclusive growth of developing countries by facilitating their infrastructure construction.
While learning from the successful practices of other multilateral financial lenders, the NDB, as a new institution, should blaze new trails in the aspects of management, policies, instruments and procedures in light of the trends of global co-operation and the realities of developing economies to improve its efficiency and inclusiveness. China will work closely with other Brics members to apply high standards, and put it into operation at an early date so as to inject fresh impetus into the reform of global economic governance.
The NDB will set up an African Regional Centre (ARC). What benefits will the NDB and ARC bring to Africa? What sort of sectors do you think need urgent funding?
The establishment of the ARC has just shown how the Brics countries value their co-operation with Africa. ARC choose South Africa as its home not only because of South Africa’s membership of Brics, but also its status and influence as the financial hub of Africa. During this summit, President Xi Jinping urged the prompt launch and operation of NDB and the ARC concurrently for early harvest. South Africa is working hard on the preparation of ARC. The Chinese side, along with other Brics members, will continue to offer help in this regard.
Brics countries are the representatives of the developing world, and Africa is home to the largest number of developing countries. Their co-operation enjoys a solid foundation and bright prospects.
Currently, Africa has entered into another round of rapid growth with accelerated industrialisation and integration.
However, a lack of infrastructure, funds and technologies are still strangling Africa’s prosperity. It is estimated that the financing gap of infrastructure building in Africa has reached $900 billion. NDB will offer new options in funding Africa’s development and modernisation. The NDB and ARC shall take into account African countries’ actual needs with the focus on the African Union 2063 Agenda and its First-10 Year Implementation Plan, particularly infrastructure building and industrialisation.
When it comes to industrial co-operation, after over 30 years of development, China now boasts abundant production capacity, advanced technologies and rich co-operation experience.
China pursues win-win co-operation, upholds openness and inclusiveness and attaches importance to advanced and green growth. I believe that the industrial co-operation between China and Africa will play an important part during the course of Africa’s industrialisation and our common development.
Will the NDB accept new members in the future?
According to the agreement, the membership of NDB shall be open to members of the United Nations and should be approved by its board of governors – the highest authority of the NDB. As Africa’s good friend, good partner and good brother, China welcomes and supports dialogues between African countries and the NDB on the discussion of co-operation in all forms.
Both China and South Africa are Brics members. What kind of roles will these two countries play in co-operation between Brics countries and Africa?
They could facilitate co-operation between Brics and Africa in three aspects.
First, continue to play the leading role in China-Africa relations with the China-South Africa Comprehensive Strategic Partnership.
Both countries should take steps to implement the Five-to-Ten Year Strategic Programme for Co-operation and strengthen win-win co-operation in major areas including the blue economy, industrial co-operation, special economic zones, energy and finance, so as to translate the China-South Africa friendship and political trust into tangible results.
Second, jointly push China-Africa co-operation to new heights. In the latter half of this year. The Conference of the Forum on China-Africa Co-operation (Focac) is to be held in South Africa. As co-chairs of Focac, both sides are working closely to prepare for it.
Due to concerted efforts of all sides, this meeting will eventually enhance our solidarity as well as transform and upgrade China-Africa co-operation.
Third, push Brics to safeguard the interests of Africa and developing countries. China and South Africa ought to lead the co-ordination and collaboration among Brics countries and accommodate the interests of African countries, particularly the least developed countries on major international development issues such as post-2015 Development Agenda and climate change.
Brics countries face multiple difficulties and challenges respectively, and some even claim Brics is “losing its gloss”. How do you see the prospect of Brics countries?
Whether Brics is losing its gloss or not, we should let statistics speak for itself. Today, Brics countries account for one-fifth of the world economy and contribute more than 50 percent of the world’s economic growth. According to the International Monetary Fund, the growth rate of Brics countries will remain higher than that of developed countries and other emerging markets until 2030. Certainly, any path of progress is not straight, and it also has twists and turns. Today, the world economy is still undergoing profound readjustment, economic growth is slowing down everywhere, and it is more than natural that the Brics economies have encountered difficulties and challenges.
Many people raised eyebrows about the slowdown of China’s economy, especially during the recent fluctuation of the Chinese stock market. In fact, although China’s economy faces downward pressure, China’s social and economic development remains stable in general. The economic performance of the first half of this year has been within a proper range with a GDP growth rate of 7 percent, and positive changes have taken place in economic restructuring. We are confidant of realising the target of 7 percent GDP growth for the whole year.
The greater difficulty we face, the more determined we stand for co-operation. Brics countries boast political stability, rich natural and human resources, a broad domestic market, enormous potential for development and sufficient policy space, so the overall trend toward growth will not change.
Brics countries are committed to closer economic partnership.
While seeking sound and steady development individually, Brics countries will continue to serve as an important growth engine for the world economy and advance global governance reform.
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