New Delhi, Sep 20 (IANS) BRICS member countries Brazil Russia, India, China and South Africa can learn from one another and need to cooperate in certain key areas for global development, a top Indian official said Friday.
“There is a lot to learn from each other and develop a high level of cooperation in select areas in BRICS as well as contribute collective capabilities to the global discourse,” India’s Sherpa to BRICS Pinak Ranjan Chakravarty said. Chakravarty is also the Secretary, Economic Relations, in the Ministry of External Affairs.
Releasing a report “A Long Term Vision for BRICS”, produced by the Observer Research Foundation (ORF), he said the five countries may follow some of the recommendations in the report to share indigenous and development knowledge and innovation experiences across key sectors.
The report includes five prominent agendas for cooperation and collaboration which are integral to the very idea of long-term engagement between the BRICS nations and provide a framework for accelerating momentum.
Reform of global, political and economic governance institutions is the centrepiece of the BRICS agenda. Multilateral leverage, furthering market integration, intra-BRICS development platform and sharing of indigenous and development knowledge and innovation experiences across key sectors are the other thrust areas envisioned in the report.
Chakravarty said while it was true that the international governance architecture required a significant overhaul, there was a lot of work to be done domestically and among BRICS members as well.