G20-BRICS Cooperation Will Make Global Governance More Effective
G20 Germany: The Hamburg Summit 2017
2 Pages Posted: 15 Jul 2017
Date Written: July 7, 2017
The G20 and the BRICS group of Brazil, Russia, India, China and South Africa have been working on shared agendas since the BRICS leaders’ first meeting in 2009. Despite the widespread belief that the BRICS competes with the G20, the BRICS recognises the G20 as a key forum for dialogue and coordination on international economic and financial issues. Its members support G20 decisions and work with other G20 members to implement them. They coordinate their own positions within the G20 to achieve the common goals of stimulating economic growth, reforming international financial institutions (IFIs), improving financial market regulation and ensuring a fair world order. BRICS declarations frequently refer to the G20 since 2008, with the highest number (44) during the Russian BRICS presidency in 2015.
Keywords: global governance, G20, BRICS
JEL Classification: F5
Suggested Citation: Suggested Citation