Brics and G7 Summits, the next international challenges for Alberto Fernández

President Alberto Fernandez will travel abroad again and will participate in another international forum this week with an agenda that will seek to reinforce the economic ties with the great powers.

Firstly, the President will attend on Friday the XIV Brics Summit in virtual form, after the invitation made by President Xi Jinping in the framework of Argentina presiding over the Community of Latin American and Caribbean States (CELAC).

The Brics was formally created in 2008, initially formed by the economies of Brazil, Russia, India and China (BRIC). At the end of 2010, he joined South Africa as the fifth member of the group, thus completing known as Brics.

The countries of the group approved in March 2013 the creation of a Development Bank, today called the New Development Bank (NBD), which came into operation in 2016, and which seeks to be an alternative to the World Bank and provide its members with a peso more significant in contrast to the International Monetary Fund.

The President will attend the XIV Brics Summit virtually on Friday, after the invitation made by Xi Jinping

Entering the Brics: Alberto Fernández’s next international challenge

The Argentine government expressed its desire to join the bloc in the coming months. This was pointed out by Alberto Fernández in a letter in which he highlighted that “the Brics are for my country an excellent alternative for cooperation in the face of a world order that has been working for the benefit of a few”.

The Brics represents around the 42% of the world population, holds 23% of global GDP, 18% of total international trade and covers 30% of the planet.

One of the possibilities is that Argentina enters the NBD first as other countries did, for example, Uruguay, Bangladesh and the United Arab Emirates. Brazil is one of the promoters of this initiative. The neighboring country’s economy minister, Paulo Guedes, said that he will promote Argentina as a candidate to join the NDB, after a meeting in April with his Argentine counterpart, Martín Guzmán. For Guedes, the accession of Argentina would allow greater integration between the two economies, especially in energy and agriculture.

G7 Summit

The president will travel on Saturday to the city of Bavaria, in Germany, and will go to the Elmau Palace, located in the Bavarian Alps, which will host the G7 Summit made up of Germany, the United States, Canada, Great Britain, France, Italy and Japan.

Alberto Fernández will have a double role. He will participate as the first Argentine president and as president pro tempore of the Community of Latin American and Caribbean States (CELAC), a position that allowed him have a chair in this meeting where the leaders of the most powerful countries in the world will meet.

The meeting of the Heads of State and Government will take place from June 26 to 28. This is the seventh time that Germany has hosted a summit of this type, and the second time that it has been held in the Alps. The last one took place there in June 2015.

The President will be the only Latin American president invited by German Chancellor Olaf Scholz. Four countries outside the G7 will also participate: India, Indonesia, Senegal, and South Africa.

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Alberto Ferrnández will reinforce the position where he spoke out against Russia’s invasion of Ukraine

war context

The summit will be marked by Russia’s war against Ukraine and will be attended by its president Volodimir Zelenski. The seven main countries of the bloc condemned the attack and supported Ukraine. The 2022 edition will include climate protection, the stability of the world economy, food security and a commitment to social justice and equality around the world on the agenda.

Alberto Ferrnández will reinforce the position where he spoke out against Russia’s invasion of Ukraine, and called for a ceasefire. Beyond the war, the Government will try to add an issue for economic development to the agenda through the distribution of gas and energy for Europe.

On the tour he made in early May to Spain and Germany, the President went in search of partners and raised the issue of the European energy crisis with his peers. Argentina has a key resource which is the Vaca Muerta hydrocarbon reserve.

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Foreign Minister Santiago Cafiero arrived in New York to participate in the United Nations Special Committee on Decolonization

coffee shop at the UN

In parallel, Foreign Minister Santiago Cafiero arrived in New York to participate in the United Nations Special Committee on Decolonization, where will demand that the United Kingdom resume negotiations with Argentina to find a peaceful and definitive solution to the sovereignty dispute over the Malvinas Islands. He was traveled by an official delegation made up of officials and legislators, pro-government and opposition members,

At the IX Summit of the Americas in Los Angeles, President Alberto Fernández remarked that “Argentina is a peaceful country” and stressed that “we continue to claim through diplomatic channels the legitimate rights that we have over our Malvinas Islands, we continue to trust in dialogue”.

Cafiero’s agenda begins on Wednesday with the presence in the discussion at the Council of the Americas. On Thursday morning, the foreign minister will make his presentation at the body’s meeting, in which several speakers will intervene.

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