For information only - not an official document
8 September 2015
Re-issued as received
BRICS continue to drive global growth, says UNIDO Director General Li
XIAMEN/VIENNA, 8 September (United Nations Industrial Development Organization) - BRICS, the five major emerging national economies that comprise Brazil, Russia, India, China and South Africa, will continue to play a major role in global economic growth and may eventually in the future take the lead in advancing regional economic integration and inclusive development, according to the Director General of the United Nations Industrial Development Organization (UNIDO).
"Although today the world is struggling with sluggish economic growth and social strife, tomorrow we are likely to see renewed growth opportunities and employment generation. In this respect, the investment opportunities offered in BRICS countries, if seized, will allow these countries to contribute to strengthen global economic integration, and play the role of a global growth engine in the future," said Director General LI Yong. He was speaking at the 19th China International Fair for Investment and Trade in the city of Xiamen.
In July 2015, BRICS countries, during their Seventh Summit in the Russian city of Ufa, recognized that industrial development is a fundamental source of growth, and reaffirmed the unique mandate of UNIDO to promote and accelerate inclusive and sustainable industrial development.
The Ufa declaration emphasized that, in the context of the unstable global financial and economic system and price volatility in global commodity markets, the development of the real sector of economy becomes particularly relevant. Industrial development can drive economic growth in the BRICS countries as they possess ample natural resources and significant labour, intellectual and technical capacities. The knowledge, experience and success of the BRICS can be shared and exchanged with other developing countries and to promote South-South cooperation.
UNIDO supports the development of local productive capacities and responsible investments, and promotes the upgrading of industrial enterprises and technical support institutions that drive the economic growth process. The support services offered by the Organization are aimed at stimulating technological dynamism for the creation of skilled jobs, enhancing the developmental impact of private sector activities, and supporting the integration of small and medium enterprises into national and global value chains through the establishment of pro-poor and market-driven business linkages.
UNIDO's work, said Director General Li, "is contributing to a new path towards a global sustainable future, and is gaining increased international recognition. This is highlighted by the fact that industrialization, along with the important areas of innovation and infrastructure, has been embraced by the world community as goal number 9 of the Sustainable Development Goals, which will succeed the Millennium Development Goals as the principal global framework for development. This is a very welcome development, and will give greater momentum and recognition to UNIDO's mandate".
* *** *
For more information, please contact:
UNIDO Senior Advisor on Partnerships