BRICS has become an important advocate for the promotion of accelerated growth, sustainable development and the safeguarding of multilateralism, which makes it attractive for many countries, global experts said.
Karori Singh, former director and emeritus fellow of the South Asia Studies Centre at India's University of Rajasthan, said that BRICS is an important organization of the 21st century. It is immune to the baggage of the Cold War and polarity mindset, however, it is not intended as a counterweight to the G7, which is led by developed countries, and Western-led military alliances such as NATO.
"It is the organization of emerging markets and developing countries, which are in the Global South," Singh said. "Therefore, it advocates Global South solidarity for promotion of accelerated growth, sustainable development and safeguarding multilateralism."
BRICS is not anti or against other organizations, but it does promote the United Nations' principles and objectives and realizes the UN vision through global solidarity, Singh added.
X.N. Iraki, associate professor at the University of Nairobi Faculty of Business and Management Sciences, said one of the biggest impacts of BRICS is that African countries are getting more confidence in their economic and political affairs because people now live in a multilateral world.
"If Africa joins BRICS, I am sure they can do a lot," Iraki said. "BRICS will give African countries another alternative, another model for development that is not the same as the Western model."
He added that Africa suffered under colonialism for many years. However, he believes that BRICS would bring partners who would treat African countries as equals.
"So there will be a win-win situation, not one person winning and the other one losing. And I think that is what makes BRICS very attractive to the African countries," he said.
Carlos Martinez, a political commentator with the London-based platform Friends of Socialist China, said that the 15th BRICS Summit in South Africa comes at a period characterized by changes unseen in a century.
The core of these changes is the decline of US hegemony, and beyond that, the decline of the entire colonialist and imperialist system that has dominated the planet for the last 500 years. The 20th century has often been referred to as the "American Century", and strategists in the US, both Republican and Democrat, have been doing everything they can to ensure that the 21st century is another American Century, he said.
However, the world has changed and people are witnessing the emergence of a multipolar world order — a system of international relations which is multilateral, balanced, more democratic, and based on respect for sovereignty, noninterference, peace, and cooperation, he said.
Since the last BRICS Summit, the world has seen further evidence of the clear differences between these two models of international relations: hegemonism and Cold War, as pursued by the US, and multipolarity and win-win cooperation, as pursued by China and the majority of countries in the world.
BRICS has become one of the central organizing components of this emerging multipolarity. As such, it's a pole of attraction for the entire Global South, according to Martinez.
Jasim Husain, Gulf analyst and former member of Bahrain's parliament, said that BRICS comprises some of the most important economies in the world, especially China and India.
Bahrain is a very important financial center and wants to continue being a bridge between continents. Bahrain can help financial connections between BRICS countries and other parts of the world, Husain said.