BRICS, Eurasian Economic Union, SCO Members Plan to Discuss Forming an Extensive Alliance

Economy MARKET_WATCH

In four days, representatives from the BRICS nations and the Eurasian Economic Union free trade group are set to convene to explore the possibility of integration with the Shanghai Cooperation Organization (SCO), as revealed by a recent russia-briefing.com report. The report emphasizes the formation of a vast Eurasian regional alliance that excludes Western involvement, with the aim of fostering greater collaboration and “reformatting the global economic architecture.” BRICS, EAEU, SCO to Discuss Moving Beyond Western Boundaries Russia Briefing, in its May 17, 2023 publication, unveiled an interesting development involving the convergence of several prominent nations. The leaders of the BRICS nations — Brazil, Russia, India, China, and South Africa — are scheduled to convene with policymakers hailing from the Eurasian Economic Union free trade group (EAEU). Notably, the EAEU comprises Russia, Armenia, Belarus, Kazakhstan, and Kyrgyzstan. The primary objective of this gathering is to deliberate upon the prospects of integration with the Shanghai Cooperation Organization (SCO). Set to unfold on May 24-25, the city of Moscow will play host to the second annual Eurasian Economic Forum, serving as the backdrop for these deliberations. 

 

The Russia Briefing author claims the emergence of a “massive Eurasian regional bloc is being created without Western input.” Shedding light on the upcoming gathering, Mikhail Myasnikovich, the chairman of the board of the Eurasian Economic Commission, explained the upcoming meeting’s purpose, as quoted by the publication. “The expansion of mutually beneficial cooperation between integration formats not only contributes to the growth of national economies, but can also have a significant impact on the formation of new approaches to the functioning of the global market,” Myasnikovich stated. “The space of Greater Eurasia has unique trade, economic, transport and logistics advantages, while the human potential and resources of the BRICS countries can multiply the effect of this cooperation.” The EAEU chairman added: I am sure that during the discussion, the experts will be able to find practical application for the combined capabilities of the EAEU, SCO and BRICS states and propose specific ways to develop interaction between interstate associations, primarily for the benefit of the citizens of these countries. Zelensky Visits Riyadh, Saudi Foreign Minister Insists Arab Nations Will Remain Impartial to Ukraine-Russia Conflict Amidst a wave of keen interest stemming from numerous nations aspiring to join the BRICS bloc, the latest developments have caused continued intrigue. Reports indicate that 13 countries have formally expressed their desire to be part of the BRICS alliance, while an additional six nations have demonstrated an informal interest. Among the hopeful candidates stands Saudi Arabia, whose intentions became apparent last year. In April 2023, the Saudi Arabian Cabinet also sanctioned its decision to pursue membership in the SCO bloc. Notably, Ukrainian president Vladimir Zelensky embarked on a recent visit to Riyadh, seeking the kingdom’s support in the face of the Russian conflict. However, Saudi foreign minister prince Faisal bin Farhan clarified that Riyadh, alongside several other Arab nations, shall maintain a stance of impartiality in this ongoing dispute. “Since the beginning of the crisis, the Arab countries have taken a position of positive neutrality, opening dialogue with the Russian and Ukrainian parties, while ensuring Arab relations with the two sides,” Farhan conveyed in an official statement. Are we witnessing the rise of a new global economic landscape? Share your thoughts and opinions about this subject in the comments section below. 

 

Source : [BRICS, Eurasian Economic Union, SCO Members Plan to Discuss Forming an Extensive Alliance](news.bitcoin.com/brics-eurasian-union-sco-members-discuss-forming-extensive-alliance/) by Jamie Redman - 90Bitcoin News by Jamie Redman / May 20, 2023

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