Musings From Abroad

Brazil’s Lula da Silva insists BRICS not meant to challenge G7, US, others

Published

1 year ago

August 22, 2023

Ahead of the 15th Summit of emerging economies group, BRICS, Brazilian President, Luiz Inacio Lula da Silva, has clarified that the group is not aimed at challenging or displacing international coalitions such as the G7 or the United States, but to “organize” the so-called Global South.

“We do not want to be a counterpoint to the G7, G20 or the United States,” Lula said in a live broadcast on social media as he attends the BRICS summit in South Africa, adding “We just want to organize ourselves.”

He also indicated support for the idea of creating a common trading currency for the BRICS countries, claiming that this would not be done in an effort to “reject” the U.S. dollar, but rather to make it easier for these developing countries to trade with one another in their own currencies.

He maintained his position on more countries joining BRICS —currently made up of Brazil, Russia, India, China and South Africa—but with certain conditions, “so it does not become a Tower of Babel.”

“We want BRICS to be a multilateral institution, not an exclusive club,” Lula said, adding that he was particularly in favour of Argentina joining the group.

South Africa, the only African state in the group, will host the 15th BRICS Summit at the Sandton Convention Centre in Sandton, Johannesburg, which begins today till 24 August 2023.

According to South African officials, more than 40 countries have expressed interest in joining BRICS. Algeria, Egypt and Ethiopia are some of the interested countries in Africa.

Related Topics:Brazil BRICS Featured Lula da Silva

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Musings From Abroad

Nigeria, India to strengthen counterterrorism, maritime security cooperation

Published

2 hours ago

November 18, 2024

Ifeoluwa Dada

During a state visit to Nigeria on Sunday, Indian Prime Minister, Narendra, Modi reached an agreement, on behalf of his country, to strengthen cooperation in counterterrorism, intelligence, and maritime security.

President Bola Tinubu invited Modi to visit Nigeria, the first Indian prime minister to do so in 17 years.

Tinubu is looking for investments from some of the largest economies in the world.

In addition to discussing economic development, defence, healthcare, and food security, Modi and Tinubu met at the presidential mansion on Sunday after arriving in the capital, Abuja, on Saturday night, according to a joint statement.

The two nations decided to work together to protect maritime trade routes and fight piracy in response to the mounting risks in the Indian Ocean and the Gulf of Guinea.

The most populous country in Africa, Nigeria, is looking to attract more Indian investment and lower-cost credit lines in order to strengthen its economy and generate employment.

Nigeria announced last year that it had obtained about $14 billion in pledges from Indian businesses, including Jindal Steel and Power, which promised to spend $3 billion in Nigeria’s steel industry, during the G20 conference.

Over 200 Indian businesses are present in Nigeria.

Modi was scheduled to go to Brazil for this year’s G20 conference after Nigeria.

Nigeria and India have a long-standing and cordial bilateral relationship. Nigeria, home to more than 200 million people, and India, home to 1.3 billion people, are both sizable emerging nations with multilingual, multiethnic, and multireligious communities.

Musings From Abroad

Military advisors from Russia arrive Equatorial Guinea

Published

22 hours ago

November 17, 2024

Ifeoluwa Dada

Russian military advisors are in Equatorial Guinea training indigenous soldiers.

Anonymous sources cited by Reuters during the week claim that between 100 and 200 Russian instructors are training with elite guards in charge of guarding the President and the first family.

The males had been seen in Malabo, the country’s capital, and Bata, its second city. Reports of Russian forces stationed in the nation initially appeared in August.

Oil-rich Equatorial Guinea’s President Teodoro Obiang Nguema Mbasogo has maintained close relations with Moscow.

Nguema travelled to Moscow in September to attend the Russian Energy Week International Forum.

Russia has strengthened military connections with African countries, sending advisors and combat soldiers to the Central African Republic, Mozambique, Mali, Niger, and Burkina Faso.

Faced with an Islamist terrorist insurrection, three Sahel countries have turned to Moscow for support, expelling French and American troops.