Yaroslav Lissovolik: BRICS Demonstrates Growing Unity and Global Leadership Potential

CGTN Europe

Yaroslav Lissovolik, BRICS+ Analystics CEO and Founder spoke to CGTN Europe and discussed the increasing unity of the BRICS organization. He notes BRICS' ability to deliver unified messages to the global community, and the growing engagement and readiness to formulate solutions to global challenges of protectionism. He also mentions BRICS' potential to lead the reform of multilateral institutions and the globalization effort, making it more sustainable and inclusive. He highlights BRICS' role in responding to President Trump's criticism through practical actions and leading the reform of the World Trade Organization.

Transcript

00:00Well, let's talk now to Yaroslav Lissavolik, the founder of BRICS Plus Analytics.

00:05Yaroslav, welcome to the program. Good to see you.

00:08BRICS is getting bigger and bigger, isn't it?

00:10I mean, it's a large group. Does it really speak with one voice?

00:16Well, I think increasingly we're seeing that it is speaking with one voice,

00:21despite the fact that it's getting larger,

00:24despite the fact that there are more countries joining

00:26and there's also the partnership belt.

00:29But at the same time, we see consistently that BRICS is able to deliver its messages to the global community.

00:37And during the most important meetings, the summits that were held during this year,

00:43there were declarations, final declarations adopted by these summits

00:48that reflected the unanimity of all of the members of the BRICS family.

00:54If BRICS is to be a substantial power in the world,

00:58its critics might say, it'll have to step up, won't it, on the world's great challenges.

01:04We've talked about them, the Middle East, Ukraine.

01:08So far, perhaps there isn't a cohesive BRICS response on those in particular.

01:14Well, I think we're seeing that there is increasingly greater engagement and readiness

01:22to meet and discuss and formulate possible solutions,

01:27as was the case today during the extraordinary summit that was held on the initiative of the President Lula.

01:37President Lula, Brazil's President.

01:40Brazil is holding the chairmanship in BRICS.

01:43And really, yes, BRICS has to step up.

01:47There is significant scope, I think, especially in the economic area,

01:53where it's possible to, I think, meet the challenges of protectionism that are presented now

02:01to the BRICS economies and steps such as forming a unified bloc in the World Trade Organization,

02:08coordinating to a greater degree the trade policies of BRICS countries.

02:13That would be certainly the next level, the next step, in terms of the response of BRICS vis-a-vis global challenges.

02:21President Trump, as you know, has openly criticized BRICS, questioning its relevance.

02:26How does BRICS respond to Trump?

02:31Well, I think the response is actions and practical,

02:36as China's leader Xi Jinping stressed during his speech today at the summit,

02:46practical steps are needed, and specifically, especially in the finance and trade areas.

02:53And so I think in terms of trade, there is a need to reform the World Trade Organization.

03:00World Trade Organization, according to BRICS, according to Xi Jinping,

03:05is to be the cornerstone of the global trading system, but it needs to be reformed.

03:12So the BRICS economies will probably lead and will need to lead this process of the reform of multilateral institutions,

03:20especially the WTO.

03:22But more generally, I think the BRICS economies and the BRICS plus circle will probably take the lead

03:31in relaunching the globalization effort of the world economy

03:35and essentially making the globalization effort of the global community more sustainable

03:44and more inclusive in line with the principles that were outlined by President Xi Jinping during the SCO summit.

03:54Now, I think there's every possibility for these initiatives, for these principles to be taken to a higher level,

04:03not just in Eurasia, as was the case with SCO, but further global south and the whole global economy.

04:12Yaroslav, always good to talk to you, and thank you so much for coming on the program and for your time.

04:16Yaroslav Lizavolik, the founder of BRICS Plus Analytics.

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