The Hindu : National : BRIC will have increased role: Menon

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BRIC will have increased role: Menon

Special Correspondent

“Inevitable shift in balance of economic power under way”

NEW DELHI: Foreign Secretary Shiv Shanker Menon on Wednesday predicted an increased international role for BRIC (Brazil, Russia, India and China) countries due to the shift towards a flatter distribution of power in the world.

Mr. Menon was addressing a preparatory meeting held by the Observer Research Foundation ahead of the first ever BRIC summit in Russia next month. The BRIC concept was first enunciated in 2001 and a major breakthrough was achieved last year with the first stand-alone meeting of their foreign ministers.

“Unlike previous financial crises which were handled within the closed shop of the G-7 industrialised countries, this crisis is sought to be addressed in the G-20 which includes all the BRIC countries,” he observed. “Existing power holders are always reluctant to share or lose power. This fact alone, therefore, shows that an unavoidable shift in the balance of economic power is under way, and that the international role of the BRIC countries will increase further.”

Despite their political muscle, Mr. Menon conceded that BRIC was neither an alliance nor an organisation in the traditional sense.

But there was an increasing congruence in their approach to international issues. Confident that the complementarities among BRIC countries and the evolution of the world situation would lead to increasing political congruence in future, the Foreign Secretary urged experts from the four countries at the seminar to be imaginative and open-minded in looking at the new world order and in making suggestions for new forms of cooperation among the countries.

The BRIC was already the buzzword around the world, the Ambassador of China, Zhang Yan, said.

These countries should join hands to fight the global economic crisis with interesting and innovative ideas. Describing BRIC as the guardian of developing countries, Mr. Zhang felt BRIC was in the long-term interests of developing countries as well. He was sure that it would achieve greater influence in world affairs.

Brazilian Deputy Chief of Mission, Jose Carlos Fonseca Jr., described BRIC as “a good idea whose time is coming.” Brazil was very much interested in strengthening cooperation among the group.

Marcos C. de Azambuja (Brazilian Centre for International Relations), Ji Peng (China Center for Contemporary World Studies), Ivan Safranchuk (Russian analyst), Kishan Rana (former diplomat) and Siddharth Varadarajan (The Hindu) wanted BRIC to avoid evolving an institutionalised structure, be agile and not be against anybody.

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