ANALYSIS: Emerging economic powers call for "new international order"

By Diana Renee Apr 16, 2010, 19:26 GMT

Brasilia - The leaders of the world's four emerging economic powers - Brazil, Russia, India and China (BRIC) - called for a 'new international order' at a summit in Brasilia.

Presidents Luiz Inacio Lula da Silva of Brazil, Hu Jintao of China and Dmitry Medvedev of Russia, and Indian Prime Minister Manmohan Singh reached consensus Thursday night on demands that they plan to field before the Group of 20 (G20) in Canada in June.

They plan to demand more power for emerging and developing countries in global decision-making bodies.

Lula was very satisfied with the summit, which took place one day earlier than originally planned because Hu needed to return to China because of the devastating earthquake.

'Brazil, Russia, India and China have a fundamental role to play in building that new international order that is fairer, more representative and safer,' Lula said.

Singh called for a democratic and multipolar world order in which the United Nations play a central role, while Medvedev highlighted the need for increased fairness at the international level in the wake of the global financial crisis.

The four countries stressed their willingness to increase monetary cooperation that facilitates trade within BRIC, so that local currencies can be used instead of the dollar.

A deal on the need for reform in global financial structures born from the Bretton Woods agreements was the Brasilia summit's greatest achievement. It was accompanied by a memorandum of understanding between the four countries' development banks, so that they can expand financing capacity on infrastructure projects that are of common interest.

Another key topic in the talks, Iran's controversial nuclear programme, was not mentioned in the summit's final declaration. Lula was keen to get support from his peers for his position of insisting on dialogue as compared to demands from the United States and several European countries for more sanctions against Iran.

Brazilian Foreign Minister Celso Amorim said Lula found 'great affinity' in bilateral meetings with Singh and Hu Thursday, prior to the BRIC summit.

'It is our impression that their point of view is that the efficacy of sanctions is very questionable,' Amorim said.

Amorim was set to host Friday in Brasilia a representative of another country that opposes sanctions, Turkish Foreign Minister Ahmet Davutoglu.

However, Amorim also noted that Lula's support for Iran's position also depends on the willingness of Iranian President Mahmoud Ahmadinejad to make concessions.

'It is very important that the government of Iran shows flexibility on this issue, because we want Iran to have the right to its nuclear programme for peaceful ends, but it is also important for the international community to feel comfortable (in the belief) that that programme does not pursue military ends,' Amorim said.

This position was included in the final declaration of another summit, also on Thursday, of the group comprising India, Brazil and South Africa (IBSA), prior to the BRIC gathering, which called on Tehran to fulfil its international obligations and cooperate with the International Atomic Energy Agency (IAEA).