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Durban to Host Meet, Russia’s Lavrov Says Members Plan to Create Common Currency

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Durban to Host Meet, Russia’s Lavrov Says Members Plan to Create Common Currency

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Edited By: Shankhyaneel Sarkar

Last Updated: January 28, 2023, 10:03 IST

Lavrov in a joint press conference with his Eritrean counterpart said South Africa will host the BRICS summit in 2023 (Image: Reuters)

Lavrov in a joint press convention along with his Eritrean counterpart mentioned South Africa will host the BRICS summit in 2023 (Image: Reuters)

Lavrov took a jibe on the US, with out naming the nation, and mentioned that there’s want for widespread forex for BRICS members which could be protected against exterior dictates

South Africa’s Durban is ready to host the 15th BRICS Summit in August this yr. The BRIC group got here collectively when the international ministers of Brazil, Russia, India and China met for the primary time in 2006 on the sidelines of the UN General Assembly.

They kicked off the BRIC cooperation during which South Africa participated in 2011 when it attended the third BRICS Summit held in China’s Sanya.

Russian international minister Sergey Lavrov made the announcement whereas addressing a brand new convention along with his Eritrean counterpart Osman Saleh in Massawa, Eritrea. Lavrov is at present touring southern Africa and earlier this month met Naledi Pandor, South African international minister, so as to strengthen ties between the 2 nations.

Lavrov mentioned BRICS nations exhibit international multi-polarity and goals to strengthen regional identification within the growing areas of the world.

“This organisation unites five countries, with more than 12 others showing an interest in joining it. Developing links between BRICS and other countries will be a central topic at the upcoming summit of the five which is to take place in August in Durban, South Africa. The clock of multipolar history is ticking in the right direction,” Lavrov was quoted as saying by information company ANI.

There have been 14 formal and 9 casual conferences of BRICS leaders since 2009. Durban earlier hosted the fifth annual summit in 2013 which was attended by the heads of states of those 5 member states.

The first BRIC assembly was held in Russia in June 2009 the place leaders determined to improve the cooperation between the members to summit degree.

A separate report by Türkiye-based information company Anadolu Agency mentioned that the leaders will talk about creating a standard forex. This remark got here when Lavrov was addressing a joint press convention with Angolan President Joao Lourenco in capital Luanda.

Without naming the US, he took a jibe at them and mentioned that the “incompetence of the ‘masters’ of the current international monetary and financial system” have been noticed by “serious, self-respecting countries” who now need their very own mechanism to guarantee improvement in addition to it being protected against exterior dictates.

“It is in this direction that the initiatives that have been voiced recently … about the need to think about creating our own currencies within the framework of BRICS,” Lavrov was quoted as saying by Anadolu Agency.

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