Experts hotly discuss BRICS bank, summit in Africa (2)

Proposal of a development bank for BRICS is highly valued.

Although the process will not be easy, the establishment of a development bank is expected to open a new horizon for the cooperation among BRICS nations. It will be of help when some countries are in crisis, commented Vladimir Davydov, an institute director at Russian Academy of Sciences.

“Of course the BRICS’ bank is an excellent innovative idea, but we are still going to see how the structure is going to be formulated. How the cooperation is going to take place because many problems are still waiting to be solved,” said Nivedita Kundu, researcher at Indian Council of World Affairs. “And the financial crisis also affects the BRICS nations’ development like India whose economic development has slowed down. The establishment of the bank will definitely be beneficial for BRICS countries that have close cooperation in economic areas.”

BRICS advance in bias.

It is not a secret that the BRICS are presumed to be not very welcomed by Western countries. BRICS are considered as a counter balance. It is said that the BRICS are impossible because the countries are so different and have so many issues waiting to be solved, according to Viacheslav Nikonov.

But in fact BRICS countries today are development driving force. BRICS Summit has become more and more important in today’s world, Viacheslav Nikonov argued.

The BRICS nations have been developing their cooperation and they don’t consider themselves as a counter balance of other states. They act as peace force on world stage. They are not the force to make new international order. They just put these regional powers together to cope with international issues, Kundu said.

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