On Set of BRICS, SCO and EEU, a Great Outcome is All Set to Change World Dynamics

While BRICS and SCO countries were discussing a powerful economic collaboration among partner countries in first week of July 2015 and world was watching the outcome of these two meeting another collaboration was taking place in Vienna ,Austria of Eurasian Economic Association or EEU. The geo political importance of BRICS and SCO was fully attended by media but very few know the outcome of EEU meeting. Iran’s foreign minister Javad Zarif and attended by representatives of other partner countries an impossible talks was met in EEU meeting. A decision was taken that any future possible threat or attack to partner countries will be considered as threat to all countries of EEU. The BRICS nations (Brazil, Russia, India, China, and South Africa), the SCO (Shanghai Cooperation Organization), the EEU (Eurasian Economic Union), the AIIB (the new Chinese-founded Asian Infrastructure Investment Bank), and the NDB (the BRICS’ New Development Bank are all set to decide a new world order and a new economic boom in world market. Geopolitical analysts are believing that these associations and their agenda is futuristic and may create a new world order in place much strong and economically viable than many existing associations of developed countries in leadership of USA.

 

Geo political expert believe that it was not mere a coincidence that EEU meeting overlapped with the 7^th BRICS Summit and 15^th SCO meet in Ufa on 7-10^th July,2015.They believe it as masterstroke of Vladimir Putin to bring Iran in to confidence through EEU meet in Vienna where Russia was also invited and had a keen interest. If we believe about outcome of Vienna EEU meet Putin wants to see Iran as a hub in Eurasia and EEU is best place to allow Iranian agenda and counter USA’s influence in Iran through Iranian Nuclear Deal which was signed between Iran and USA recently.

 

What can BRICS,SCO,AIIB,NDB and EEU together do may be a matter of analysis but an intense bond between BRICS nations and their support to NDB and SCO is going to reshape geopolitical opinion of many expert about shifting of economic, strategic and political power center to east. Whether USA takes it seriously or not is not a question of time but what these sound associations can together can do, nobody can deny.Out come of BRICS was denied by mainstream USA media but here are few facts which will be point of interest for them. During BRICS summit Indian Prime Minister proposed a very viable and futuristic ten point agenda which included a trade fair, a Railway Research Centre, cooperation among supreme audit institutions, a Digital Initiative and an Agricultural Research Centre, State/Local Government's Forum, cooperation amongst cities in field of Urbanisation, BRICS Sports Council and Annual Sports Meet, a film festival and the first major project of NDB to be in field of Clean Energy. Chinese Primer proposed his Euarsian Silk Road plan which will Connect Eurasia to Chinese market and potential. The NDB, the BRICS’ response to the World Bank, was officially launched with $50 billion in start-up capital. Focused on funding major infrastructure projects in the BRICS nations, it is capable of accumulating as much as $400 billion in capital, according to its president, Kundapur Vaman Kamath. EEU has begun establishing free trade zones with India, Iran, Vietnam, Egypt, Argentina, Brazil, Paraguay, Uruguay, and Venezuela), the initial stages of this integration process already reach beyond Eurasia.

 

 

So what ever happened in Ufa and Vienna is clearly a mind game of visionary President of Russian Federation, Vladimir Putin and is enough to put west to think twice in few years from now. If USA is not realizing potential of BRICS, SCO, AIIB, NDB and EEU here are few more instance as what is happening in these organizations to change the world order.

NDB:

The New Development Bank (NDB), formerly referred to as the BRICS Development Bank, is a multilateral development HYPERLINK "https://en.wikipedia.org/wiki/Multilateral_development_bank"bankoperated by the BRICS states (Brazil, Russia, India, China and South Africa) as an alternative to the existing American and European-dominated World Bank and International Monetary HYPERLINK "https://en.wikipedia.org/wiki/International_Monetary_Fund"Fund. The bank is set up to foster greater financial and development cooperation among the five emerging markets. Together, the four original BRIC countries comprise in 2014 more than 3 billion people or 41.4 percent of the world’s population, cover more than a quarter of the world’s land area over three continents, and account for more than 25 percent of global GDP.

AIIB:

The Asian Infrastructure Investment Bank (AIIB) is  international financial institution which is focused on supporting infrastructure construction in the Asia-Pacific region. The bank is proposed as an initiative by the government of China and supported by 37 regional and 20 non-regional members Prospective Founding Members, 51 of which have signed the Articles of Agreement that form the legal basis for the proposed bank. AIIB is regarded by some as a rival for the IMF, the World Bank and the Asian Development Bank (ADB), which are regarded as dominated by developed countries like the United States. 

SCO:

At present, SCO cooperation has covered wide-ranging areas such as security, the economy, transportation, culture, disaster relief and law enforcement, with security and economic cooperation being the priorities.

 

1. Security cooperation. SCO security cooperation focuses on the fight against terrorism, separatism and extremism. The SCO was among the first international organizations to advocate explicitly the fight against the three evil forces. The SCO has also decided to set up an anti-narcotic drugs cooperative mechanism as soon as possible, and talks on relevant documents are actively under way.

 

2. Economic cooperation. Economic cooperation is a key area of cooperation for the SCO and serves as the material foundation and guarantee for SCO's smooth development. Heads of government of the six member states held the first meeting in Alma-Ata on 14 September 2001 to discuss regional economic cooperation and signed the Memorandum Between the Governments of the Member States of the Shanghai Cooperation Organization on the Basic Objectives and Orientation of Regional Economic Cooperation and the Launching of a Process of Trade and Investment Facilitation.

 

Source: http://ufa2015.com/sco/

BRICS

The BRIC [Brazil, Russia, India and China] idea was first conceived in 2001 by Goldman Sachs as part of an economic modeling exercise to forecast global economic trends over the next half century; the acronym BRIC was first used in 2001 by Goldman Sachs in their Global Economics Paper No. 66, “The World Needs Better Economic BRICs”.

 

BRICS countries have increased their share of global GDP threefold in the past 15 years.

 

BRICS’ share of global output will increase from 18% (according to market exchange rates), to 25% to 26% over the next 10 years and even to one-third by 2030.

 

In PPP terms, it is about 30% of world's GDP at the moment. By 2020, it will be 37% to 38% and increasing to as much as 45% by about 2030.

 

In 2011, the BRICS' share of GDP, based on PPP amounted to about 20 % and 25% (estimated at US$13,7 trillion).

 

BRICS countries occupy 30% of the global territory.

 

They are home to 45% of the world's population.

 

The contribution to global economic growth over the last decade has reached 50%, which makes this group of states the leading power in global economic development.

 

BRICS accounted for approximately 11% of global annual foreign direct investment (FDI) flows in 2012 (US$465 billion).

 

BRICS account for 17% of world trade.

 

BRICS’ combined foreign reserves are estimated at US$4 trillion.

 

Source: ufa2015.com/brics/