She noted that one way to advance the context of global cooperation is to create influential formations that will work with the United Nations to promote an inclusive forward-looking international development agenda. BRICS can play such a transformative role.
"BRICS is attracting a lot of interest from a number of countries, and our sherpas are working on the concept of how the group can respond to this interest. We hope that our leaders will present final guidelines at the conclusion of the BRICS Summit," Pandor stated.
"The growing interest in the alliance shows that many countries are looking for a multipolar forum that is modern, inclusive and focused on the common good," she added.
The South African FM mentioned that the BRICS is a partnership of emerging economies and developing countries that want to play a role on the world stage, providing a good for the global South.
BRICS nations announced a new currency designed to replace the dollar.
The creation of this new gold and commodity backed currency will be discussed at the BRICS summit this August.
"We are encouraged by the growth and sustainability of the New BRICS Development Bank and welcome new members. The Bank has helped the members to provide financing for infrastructure needs, support the unlocking of regional value chains and localisation of productive capacities," she stressed.
"Our partnership with BRICS has resulted in tangible benefits for our country across a range of sectors. Total trade with BRICS countries increased from US$25 billion in 2017 to US$36 billion in 2021. We have secured more than US$5 billion in funding from the NDB for key infrastructure projects in renewable energy, water and other sectors"
Pando said this year's priorities for the BRICS are developing partnerships towards a just transition; modernising education and developing skills for the future; unlocking opportunities through AfCFTA; strengthening economic recovery after the pandemic; and strengthening multilateralism.
"The BRICS countries support a strong multilateral system and the United Nations Security Council reform. Our goal this year is to ensure the strengthening of BRICS and the success of the summit in August," she summarised.