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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