Balance of power is shifting towards BRICS, SCO, EAEU, says South African president

UFA, July 9. /TASS/. South African President Jacob Zuma says that a model of the multipolar world has been established more firmly and that a joint voice of such organisations as the BRICS comprising Brazil, Russia, India, China and South Africa, along with the Shanghai Cooperation Organisation (SCO) and the Eurasian Economic Union (EAEU) is becoming stronger. "As the balance of power progressively shifts towards our regions and a pluralistic, multi-polar world order is taking shape, formations such as ours, are clearly indicative of our increased confidence, representing an amplified voice for addressing the needs of the majority of people globally," Zuma said at a summit of the BRICS, SCO and EAEU countries held in the Russian city of Ufa on Thursday. "We have shared common challenges, but remained tied together by our historic solidarity, as well as our shared respect for the principle of mutually beneficial cooperation, which has existed for many decades already. We find convergence in our respective priority areas for cooperation, including sustainable socio-economic development, boosting trade, economic and investment activities," the president said. Speaking at the BRICS summit, Zuma said that the South African Republic had received considerable profits after joining the association in 2011. Trade has increased by 70 percent in the past three years topping 382 billion rand ($38bln) in 2014. BRICS’ trade with Africa has doubled since 2007 standing at $340bln in 2012, with a possible growth to $500bln this year. South Africa’s president urged the partner states to jointly counteract terrorism, extremism and drug trafficking. "These new threats have radically challenged the traditional discourse on international law and security. The nature of these threats, coupled with resource limitations, requires BRICS partners to work more closely together, notably in the context of the United Nations," he said. Also, Zuma called to adopt "rules, norms and principles of responsible behaviour on the Internet." "We recognise the need to deal with related [cyber] crimes through a universal regulatory and binding instrument under United Nations’ auspices," he said. Besides, Zuma dubbed the establishment of the BRICS New Bank of Development and the currency reserve pool as a historical event. Russia holds the rotating presidency of the BRICS group since April, culminating in the 7th BRICS summit held in the city of Ufa some 1,360 kilometres southeast of Moscow on July 8-9. Established in June 2006, the BRIC association originally included four countries, namely Brazil, Russia, India and China to be expanded to the BRICS format after South Africa joined it in 2011. The BRICS countries account for 26 percent of the entire land surface of the Earth and 42 percent of the Earth’s population. Read more