Reforms had increased the effectivess of BRICS, PM Modi said

Mutual cooperation between BRICS members can make a useful contribution to post-Covid global recovery, Prime Minister Narendra Modi said on Thursday.

In his opening remarks at the XIV BRICS Summit 2022, Prime Minister Modi pointed out that even though the scale of the epidemic had reduced globally, many of its ill effects were still visible in the global economy.

Prime Minister Modi noted that the BRICS member countries (Brazil, Russia, India, China, and South Africa) have had a very similar view of the governance of the global economy.

"And so our mutual cooperation can make a useful contribution to post-Covid global recovery," he said during the course of the virtual Summit hosted by China.

In addition to Chinese President Xi Jinping, Russian President Vladimir Putin, South African President Cyril Ramaphosa, and Brazilian President Jair Bolsonaro also attended the Summit.

According to Prime Minister Modi, there were many areas where the lives of citizens were getting directly benefitted from 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," he pointed out.

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

The Prime Minister also referred to institutional reforms in BRICS over the years, which had increased the effectiveness of this organization. He expressed happiness that the membership of the New Development Bank has also increased.