Johannesburg – President Cyril Ramaphosa says that he welcomes the ongoing engagement of BRICS countries with Africa in the spirit of partnership and mutual respect.
Speaking during the Summit Open Plenary, Ramaphosa said that there are concerns that the global financial and payment systems are increasingly being used as instruments of geopolitical contestation.
The South African president said that global economic recovery relies on predictable global payment systems and the smooth operation of banking, supply chains, trade, tourism, and financial flows.
"We will continue discussions on practical measures to facilitate trade and investment flows through the increased use of local currencies," said Ramaphosa.
The president said that as nations around the world confront the effects of climate change, there must be assurance that the transition to a low-carbon, climate-resilient future is just, fair, and takes into account differing national circumstances.
"In line with this objective, BRICS nations need to advance the interests of the Global South and call for industrialised countries to honour their commitments to support climate actions by developing economies," he said.
Ramaphosa also said that peace and stability are preconditions for a better, more equitable world.
"We are deeply concerned about conflicts across the world that continue to cause great suffering and hardship."
"As South Africa, our position remains that diplomacy, dialogue, negotiation, and adherence to the principles of the UN Charter are necessary for the peaceful and just resolution of conflicts," he said.
Ramaphosa also said that the new economic, political, social, and technological realities call for greater co-operation between nations.
"These realities call for a fundamental reform of the institutions of global governance so that they may be more representative and better able to respond to the challenges that confront humanity.
While firmly committed to advancing the interests of the Global South, BRICS stands ready to collaborate with all countries that aspire to create a more inclusive international order.
"We are confident that this 15th BRICS Summit will advance the cause of common prosperity and progress," said Ramaphosa.
He said that he was confident that this 15th BRICS Summit would enrich and inspire our work towards the achievement of a more humane global community.
The Star