Through stronger coordination mechanisms and deeper cooperation, Global South countries can speak with a unified voice to address crises threatening all nations, said Otaviano Canuto, former vice president and executive director of the World Bank.
During an exclusive interview with China Central Television (CCTV) on July 1, Canuto highlighted the importance of advancing Global South development. The interview came ahead of the 17th BRICS Summit running from Sunday to Monday in Brazil under the theme "Strengthening Global South Cooperation for More Inclusive and Sustainable Governance."
"In the face of mounting global and regional crises, deriving from climate change, food and energy insecurity, health emergencies, debt distress and geopolitical tensions, greater unity and cooperation among emerging markets and developing economies is essential to drive fairer, more effective global governance. To do this, the Global South can focus on some key strategies," Canuto said.
Canuto stressed the importance of unified policy dialogue to amplify the voice of the Global South on pressing global issues.
"Platforms like BRICS, the African Union, CELAC and ASEAN can deepen policy dialogue and align positions on major global issues. The Global South can speak with a stronger unified voice," said the economist.
He also stressed the need for the Global South to foster internal trade and innovation, while pushing for reforms that create a more inclusive global system.
"Enhance trade, investment and technology exchanges among Global South countries, reducing dependency on other countries, on advanced economies. Advocate for reforms in global governance institutions, it needs both unity of purpose and practical cooperation that delivers concrete results for people. By working together, these countries can make the international system more inclusive, equitable and capable of addressing the crisis that threaten all nations, especially the most vulnerable," said Canuto.
BRICS – an acronym derived from its first five members: Brazil, Russia, India, China and South Africa – has expanded to include 11 full member states and 10 partner countries.
Today, BRICS countries account for over half of the world's population, nearly 30 percent of global GDP, and more than 50 percent of global economic growth.
Former World Bank official calls for unity, deepening cooperation among Global South countries
