World

BRICS Summit 2023 agenda: All you need to know

BRICS is a bloc of emerging world economies – Brazil, Russia, India, China and South Africa – aimed at developing trade and economic cooperation among its member nations.

The acronym “BRIC” was originally coined by Goldman Sachs economist Jim O’Neil in 2001. South Africa was added to the group in 2010 when the bloc extended its membership to another continent.

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Russia organized BRIC’s first meeting in 2006, with foreign ministers from Brazil, Russia, India and China in attendance. They discussed the economic bloc’s shared interests and common challenges – the most prominent being the rising US influence on world order.

According to World Bank statistics, BRICS accounts for more than 40 percent of the world’s population, and the combined GDP is more than $23 trillion – 26 percent of the global economy.

Where and when is the summit?

BRICS will hold its 15th heads of state and government summit in Johannesburg, South Africa from August 22-24. The summit will be the first in-person meeting of the group since the coronavirus pandemic.

Who will attend BRICS summit?

The world leaders expected to attend the summit include South African President Cyril Ramaphosa, Chinese President Xi Jinping, Brazil’s President Luiz Inacio Lula da Silva and Indian Prime Minister Narendra Modi.

Russian President Vladimir Putin will not attend the summit, Moscow announced in July. His absence is due to an arrest warrant issued against him by the International Criminal Court (ICC). If he arrives in South Africa, he would be subject to the ICC’s warrant.

Instead of Putin, Russia’s foreign minister Sergei Lavrov will represent Moscow at the summit. Putin, however, will not miss the meeting. According to Russian state media, he will reportedly participate in the conference via video.

Heads of states pose for a group picture at the BRICS summit meeting in Johannesburg, South Africa, July 27, 2018. (Reuters)

BRICS has also extended invitations to 67 world leaders across Africa, Latin America, Asia and the Caribbean.

Twenty dignitaries will attend the summit, including the UN Secretary General Antonio Guterres, the African Union Commission Moussa Faki Mahamat Chairperson and the President of the BRICS’ New Development Bank. According to Reuters reports, prominent business leaders in the region are also expected to be in attendance.

What are key issues on the agenda?

Other than developing economic relations and trade infrastructure, one of the most pressing issues on the summit’s agenda is BRICS’ expansion, with several nations from Asia, Africa and Europe vying to join the bloc.

While the group’s stance on expansion is divided – China and Russia have embraced it, but India remains opposed to Beijing’s plans – as many as 40 countries have reportedly shown interest in joining the bloc formally or informally. These include Algeria, Belarus, Saudi Arabia, UAE, Iran, Indonesia, Argentina, Ethiopia and Egypt.

Another item on the bloc’s agenda that has gained traction and attracted media headlines is the push from BRICS to conduct more cross-border trade in local currencies to reduce the group’s reliance on the US dollar.

Several reports of a new BRICS’ currency also emerged in the months preceding the summit, with some economic experts claiming that the economic bloc may, in the future, push for de-dollarization – reducing the US dollar’s dominance in global trade and finance.

However, according to a Bloomberg report, South Africa’s ambassador to the bloc, Anil Sooklal, said there are no plans to discuss replacing the US dollar.

BRICS isn’t competing with any bloc, no agenda item of de-dollarization: Official

BRICS leaders meet to discuss expansion and geopolitical influence

World

Crown Prince of Abu Dhabi meets with CEOs of leading Norwegian companies

H.H. Sheikh Khaled bin Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi, has met with a group of CEOs from leading Norwegian companies, as part of their participation in the UAE-Norway Investment Forum, held alongside his official visit to the Kingdom of Norway.

During the meeting, H.H. Sheikh Khaled bin Mohamed bin Zayed underscored the UAE leadership’s commitment to strengthening economic cooperation with its international partners.

He highlighted that investment in innovation and knowledge is a cornerstone for achieving sustainable development, noting that enhancing collaboration with Norwegian companies across key sectors will open new avenues for mutual economic growth between the two countries.

The UAE-Norway Investment Forum, taking place in Oslo, aimed to highlight available investment opportunities and strengthen trade relations between the UAE and Norway, fostering shared interests and supporting innovation and knowledge-based economic visions.

-wam

World

At the Indonesia International Book Fair 2024, TRENDS inaugurates 10th global office, releases four books

As part of its Asian research tour, partnership with Aletihad News Center, and
primary sponsorship of the Indonesia International Book Fair 2024, TRENDS
Research & Advisory inaugurated its office in Jakarta, marking its 10th location
worldwide. It also released four books in Indonesian.
The inauguration event was attended by ambassadors of the UAE, Bahrain, and
Jordan to Indonesia, chairpersons of the UAE and Indonesian Publishers’
Associations, the Director of TRENDS’ Jakarta office, and a group of researchers
and academics.
Speaking at the event, Dr. Mohammed Abdullah Al-Ali, CEO of TRENDS
Research & Advisory, stated that TRENDS’ international offices—set to reach 15
by the end of 2024—aim to enhance the Center’s research efforts and deepen its
role in disseminating knowledge, thus serving as a global knowledge bridge.
He emphasized, “At TRENDS, we believe in the importance of cooperation
between think tanks and prioritize this endeavor. We believe the TRENDS office in
Jakarta will enhance the exchange of knowledge and ideas between think tanks in
Asia and the Middle East, opening new horizons for collaboration in various
fields.”

Four books in Indonesian
As part of the Jakarta office’s inaugural activities, four books were released in
Indonesian, including the 11th and 12th books of the Muslim Brotherhood
Encyclopedia and Global Trends in AI and Automation and the Future of
Competition between Man and Machine: An Analytical Forward-looking Vision.

Hostility to Arab states
The 11th book of the Muslim Brotherhood Encyclopedia, The Concept of the State
According to the Muslim Brotherhood, highlights its hostile stance toward Arab
states since its inception. The group views them as an obstacle to its ascent to
power. It opposed the modern principles upon which these states were built,
considering them incompatible with the group’s unique interpretation of Islam,
which it claimed to embody exclusively.

Exclusion of nonconformists
The 12th book, The Muslim Brotherhood: Rejection of Tolerance and Exclusion of
Nonconformists, examines the Muslim Brotherhood’s stance towards
nonconformists, individuals, and entities. The book reveals the group’s binary view
of the world, categorizing others as allies or adversaries. It ties these relationships
to the Brotherhood’s internal power struggles and self-serving interests.

Global Trends in AI
The third book, Global Trends in AI, explores significant developments in AI and
its impact on various aspects of life, including the economy, society, and
governance. It also offers a comprehensive analysis of technological advancements
in AI, its applications across sectors, the ethical and social challenges it presents,
and its future trajectory.

Automation

The fourth book, Automation and the Future of Competition between Man and
Machine: An Analytical Forward-looking Vision, addresses the growing challenges
faced by the human workforce in the face of widespread automation and AI
applications. The book concludes that while automation presents a significant
challenge to the labor market, it simultaneously creates new opportunities. It
emphasizes the importance of preparing for this shift through skills development,
continuous education, and adopting economic and social policies that support the
workforce.

Prominent pavilion and active presence
The TRENDS’ pavilion at the Indonesia International Book Fair has attracted
numerous visitors, including academic researchers and officials, such as the
ambassadors of the UAE, Bahrain, Qatar, Jordan, and Turkey. Additionally,
chairpersons of Arab and Indonesian publishers’ associations, authors, publishers,
and students visited the pavilion. All were impressed with and praised TRENDS’ diverse, valuable publications. They also commended TRENDS’ active
international presence and ability to address global developments with rigorous
analytical research.
Dr. Mohammed Abdullah Al-Ali honored the esteemed guests, including
ambassadors of the UAE and Bahrain to Indonesia, Wedha Startesti Yudha,
Chairperson of the Indonesia International Book Fair Committee, Arys Hilman
Nugraha, Chairman of the Indonesian Publishers Association, and others,
presenting them with TRENDS’ publications and commemorative shields.
Additionally, he awarded TRENDS’ Research Medal to Ni Made Ayu Martini
Indonesian Deputy Minister of Marketing, Tourism and Creative Economy
It is worth noting that during its current Asian research tour, TRENDS announced
the launch of the TRENDS Research Medal, awarded to individuals who make
significant contributions to the development of scientific research and promote collaboration with TRENDS in strengthening a culture of research across various fields.

World

US determined to prevent full-scale war in Middle East, Joe Biden tells UNGA79

US President Joe Biden highlighted the US Administration’s determination to prevent a wider war that engulfs the entire Middle East region, noting that a diplomatic solution “remains the only path to lasting security to allow the residents from both countries to return to their homes on the border safely”.

In remarks he made today before the 79th Session of the United Nations General Assembly (UNGA79), the US President said, “Full-scale war is not in anyone’s interest,” adding that a diplomatic solution is still possible.

He also touched on “the rise of violence against innocent Palestinians on the West Bank”, and the need to “set the conditions for a better future”, which he said featured “a two-state solution, where the world — where Israel enjoys security and peace and full recognition and normalised relations with all its neighbours, where Palestinians live in security, dignity, and self-determination in a state of their own”.

President Biden underscored the ceasefire and hostage deal put forth by Qatar and Egypt, which the UN Security Council endorsed. He said, “Now is the time for the parties to finalise its terms, bring the hostages home,” adding that this would help ease the suffering in Gaza, and end the war.

-WAM