S ource: ITAR
More Information: MIST was to be the next set of nations that many bankers and hedge fund managers thought to be up and coming.
“After BRIC comes MIST, the acronym Turkey would certainly welcome
The term MIST has been coined to describe the next tier of large emerging economies – Mexico, Indonesia, South Korea and Turkey. Can Turkey live up to the hype?”
Indonesia intends to join BRICS (Brazil, Russia, India, China, and South Africa), Indonesian Ambassador in Moscow Djauhari Oratmangun said on Wednesday, March 7.
He noted Russia’s activity in the international arena, placing a special emphasis on BRICS and said that his country intends to join this group.
Experts think that Indonesia will reach the high BRICS standards in many fields in the coming years. Some analysts expect BRICS to be transformed into BRIICS.
The admission of such a strong regional player as Indonesia, which has the world’s fourth largest population, can help expand the organisation’s influence to Southeast Asia and the Islamic World (Indonesia plays an active role in the Organisation of Islamic Cooperation).
BRICS accounts for 30 percent of the world’s landmass and 42 percent of the world population. In 2010, the GDP of its member states made up 18 percent of the world’s GDP and their trade accounted for 15 percent of global trade tunrover.
Brazil, Russia, India, China, and South Africa can play an important role in changing the world management system and become a serious partner for the international community in solving global problems, Sudhir Vyas, Secretary, Economic Relations in the Ministry of External Affairs, said at 4th BRICS academic forum “Partnership for Stability, Security and Growth” in New Delhi on Monday, March 5.
Vyas said BRICS is not a block or an ideological group that is fighting someone. But at the same time it is a serious transnational group that can play a key role in reforming the world management system.
In his opinion, BRICS is a new pole of growth in a multipolar world, a transnational group that is gaining more geolopolitical weight and can interact with the international community as an important partner in addressing global problems.
India hosts the BRICS summit for the first time since the leaders’ meeting was first held in the Russian city of Yekaterinburg in 2009.
The fourth BRICS summit will focus on ways to deal with the festering global economic downturn and make a renewed pitch for reforming the global governance architecture.
“BRICS nations can play a much bigger role in the world management by systematically creating frameworks offering policy and development options for the emerging and developing world and assume the role of a veritable policy think tank for such nations,” Observer Research Foundation, a New Delhi-based public policy think tank, said in a statement ahead of the forum meeting.