It's sixteen years since the foundations of the BRICS mechanism were laid. The four emerging economies who met in 2006 have since turned into five and now, as they look to give more developing countries a stronger voice globally, the group looks set for another expansion. Our reporter, Wang Hui, has more.

Since it was established, the stated aims of the BRICS mechanism have included reforming global governance to reflect the voice of developing countries. Initially, the group had only four members – Brazil, Russia, India, China.

The 2008 financial crisis led them to think more about comprehensive strategic cooperation and so, a leaders' summit was held in 2009. China took the rotating chair in 2011, the same year South Africa came on board. When taking the chair again in 2017, China focused on three areas in particular: politics and security, trade and economy, and people-to-people exchanges.

Despite the pandemic, the BRICS countries have been maintaining cooperation in various areas. Experts say their cooperation and understanding is reaping dividends on the global stage.

WANG LEI Director, Center of BRICS Cooperation Studies, Beijing Normal University "BRICS has helped reform the International Monetary Fund and the World Bank, pushing BRICS countries' share in both of them to about 14-percent. Politically, it has driven reforms in the United Nations and the UN Security Council. It has also safeguarded the global multilateral trading system, by facilitating the steady reform of the World Trade Organization."

In terms of global governance, Wang says BRICS countries largely focused on financial matters during the mechanism's first decade. However, over the past five years, it's been more active in areas such as the digital and green economies as well as what's being dubbed the "New Industrial Revolution".

During this process, Wang says, the BRICS have always been ambassadors from the concept of multilateralism, and protectors of the interests of developing countries.

WANG LEI Director, Center of BRICS Cooperation Studies, Beijing Normal University "In terms of global governance, the BRICS mechanism represents the interests of developing countries and emerging economies. By maintaining a steady and fair international order, it aims to help more developing countries benefit from global development."

The five countries are now considering a further expansion. Through this, they believe, more developing countries can have a greater influence on the global stage.

WANG HUI Beijing "The theme of this year's BRICS summit is 'Foster High-quality BRICS Partnership, Usher in a New Era for Global Development'. Beijing says China hopes to work with all BRICS countries to respond to the major concerns of the international community and build a more comprehensive, closer, more practical and more inclusive partnership to jointly achieve stronger, greener and sounder global development.

(Source:CGTN)