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Maduro Highlights BRICS-UNASUR Convergence

Venezuelan President Nicolás Maduro highlighted on Wednesday the union between UNASUR (Union of South American Nations) and BRICS (a bloc made up of Brazil, Russia, India, China and South Africa) and indicated that it is a unique event that will create a new global geopolitics.

“We are living through a historic moment of a surge of a new geopolitics and a new bglobal map,” he affirmed during the meeting between the organizations that was held in Brasilia as part of the 6th BRICS summit.

“Mechanisms with similar characteristics are converging: UNASUR and BRICS, which have arisen through countless efforts and paths.  They are uniting the paths and the agendas,” Maduro added.

The President indicated that UNASUR has been building a new agenda for the 21st century in South America, and pointed out the need to bring dynamism and urgency to the bloc’s agenda.

“UNASUR is a gigantic step in transforming our region into a bloc,” Maduro said, before noting that the UNASUR-BRICS meeting “is an extraordinary opportunity to make progress in constituting an alliance of blocs and regions, a financial, economic and energetic alliance.”

He then proposed a working alliance between the Bank of the South and the recently announced BRICS Development Bank, which was created on Tuesday in Fortaleza, Brazil.

The next UNASUR meeting, scheduled for August in Montevideo, Uruguay, will review Wednesday’s meeting and designate a special presidential commission for working with BRICS.  Maduro said that this would give “continuity to the alliance in the fields of economics, finances, culture and politics.”

UNASUR, created in 2008, is made up of Argentina, Bolivia, Brazil, Chile, Colombia, Ecuador, Guyana, Paraguay, Peru, Surinam, Uruguay and Venezuela.

As a bloc, BRICS accounts for around 25% of global GDP, although by 2030 BRICS will represent 50% of global GDP, according to estimates from China’s Center for International Economic Exchange.

International Monetary Fund rankings for 2013 place China as the 2nd largest economy, Brazil 7th, Russia 9th, India 10th and South Africa 29th.  BRICS constitutes 27% of the world’s area, having over 39 million square kilometers in the Americas, Asia, Europe and Africa.

Solidarity with Argentina

President Maduro reaffirmed his support for Argentina’s sovereign debt restructuring and the rejection of a US Supreme court decision that favored a minority of shareholders, known as hold-outs, that had refused an earlier deal.

“We want to affirm our solidarity with Argentina in the struggle they face today.  It is everyone’s struggle,” the President said.

“Solidarity with Argentina isn’t empty.  We should convert it into different types of diplomatic, political and financial actions that will allow Argentina an early victory,” Maduro Added.

AVN / Press – Venezuelan Embassy in the US / July 17, 2014

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