Fortaleza summit set new geopolitical order: National Committee on BRICS Studies

Contacts within the BRICS framework are constantly expanding. Source: TASS

Contacts within the BRICS framework are constantly expanding. Source: TASS

Georgy Toloraya noted that contacts within the BRICS framework are constantly expanding and stressed that at some point bureaucratic structures will have to be established.

The BRICS (Brazil, Russia, India, China, South Africa) summit in Fortaleza held in 2014 has become an important benchmark defining a new geopolitics, where Russia was confronted by the West and was supported by its partners in the BRICS, Georgy Toloraya, the Executive Director of the National Committee on BRICS Studies in Russia said last week.

"The BRICS summit in Fortaleza has become a surprising turning point," Toloraya said at a video conference held at Rossiya Segodnya's press centre.

"It convened in the context of confrontation between one of the BRICS members, Russia, and the West, the US in particular, thus defining the new parameters of politics. This is a situation when the big powers start playing a very important role (in geopolitics) and the period of stability in international relations is over," he added.

"Russia highly appreciates the position of the BRICS countries in the UN, its contradictions with the West and the US over the conflict in Ukraine," Toloraya said.

He also noted that contacts within the BRICS framework are constantly expanding and stressed that at some point bureaucratic structures will have to be established.

"This is inevitable, and the first steps have already been taken- this is the investment bank, which is not only a source of financing, a source of mobilized resources for different BRICS projects, but also an analytical centre," Toloraya said.

"I'm determined that the institutionalization process stays very important and will keep developing in the future," he stated.

Speaking about the upcoming G20 meeting in Brisbane, Toloraya said that he expects a clash in views over how to develop global financial and economic systems.

The biggest achievements of the BRICS 2014 Summit in Brazil were the establishment of the grouping’s developmental bank and the contingency currency fund.  BRICS is also emerging as a political grouping from being an economic one.  

Russia holds the presidency of the grouping and will host the 2015 summit in the city of Ufa. The BRICS meeting will immediately follow the Shanghai Cooperation Organization summit. Russia followed the same format when hosting both summits in 2009 in the city of Yekaterinburg.

Several countries have expressed interest in joining BRICS including Indonesia, Egypt and Argentina.

First published by RIA Novosti.

All rights reserved by Rossiyskaya Gazeta.

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