It is symbolic that the BRICS countries mine gold together

By Vestnik Kavkaza
It is symbolic that the BRICS countries mine gold together

Over the last weekend, the 8th summit of BRICS, the results of which have exceeded all  Moscow’s expectations, was held in Goa. As the executive director of the National Committee for the study of the BRICS, the head of the Center of Russia's strategy in the Asia Institute of Economics, Georgiy Toloraia, explained, "before the summit, the West said that BRICS is in the sunset of its days, it is torn apart by the internal contradictions; the BRICS initiatives are very weak, ineffective, and their implementation is even worse". It is difficult to suggest other theories on the background of a virtually forced change of the President of Brazil, who was ready for a co-operation in the framework of BRICS to a pro-American president; as well as in connection with a situation in Russia, which is isolated from the West.

Toloraia believes that reality has confuted the expectations: "The summit has demonstrated  the unity of the BRICS countries, primarily on the political issues. A unanimous support was voiced for the Russian position on Syria. It is a certain ‘value-added’ for us in promoting of a unanimously supported, clearly defined idea of ​​a multipolar world and debarment of intervention, economic sanctions and coercive measures. A success in the implementation of the long-term plans on creation of a road map and the economic strategy to improve the financial and economic architecture in the world isn’t so obvious on this background. But this process is advancing. "

According to the expert, the new formats were introduced, in particular, during the Indian presidency in BRICS: "At the summit, the new Development Bank of BRICS reported on the first results of its activities. The first loans were granted, the bonds were issued, including in the yuan. It is expected that the bonds will be issued in rupees and rubles as well. That means, the process of the value increasing of the national currencies is ongoing in the calculations of the BRICS financial architecture. Quiet a unanimous opinion was voiced on the increased value of the BRICS in the financial architecture. The concrete agreements were reached on a bilateral and multilateral basis ".

Toloraia reminded that the first project, where the five BRICS countries are involved, aleeady exists. It is the Kliuchevskoe field in Russia: "It is symbolic that the BRICS countries mine gold together."

The program director of the NKI BRICS Llana Vyazovskaya noticed that as a result of the Indian presidency the key new initiatives were introduced, among which a creation of the Sports Council, rating agency, the conclave of friendly cities of the BRICS countries, and the conclave of young scientists can be identified. ‘’A conclave is not quite a forum. I percept it as a kind of a team form of cooperation. These are presentations and forums, it is a compound of the working groups, and compound of some concrete structures that operate on an ongoing basis. it seems to me that this is a key to success, a key to a great future of this association. "