Collaboration and the New Development Paradigm

Editor’s Note: The BRICS countries have explored a new paradigm of collaboration between emerging economies. Against the pandemic, will the BRICS countries set a good example for international cooperation on fighting coronavirus? David Gosset, the founder of Europe-China Forum, discussed with Marcos Troyjo, President of the New Development Bank which is an international organization jointly founded by the BRICS countries.

A Time of Collaboration, hosted by Mr. Gosset, is a high-level dialogue with international veteran diplomats, business elites and outstanding scholars. The serial interviews are presented by China Focus in association with DG2CI Limited.

David Gosset: Marcos, it’s really a great pleasure to be here. I don’t want to comment on the backdrop. The backdrop is magnificent. We are at the headquarters of the New Development Bank. You lead this very important institution. And for you on a daily basis, you practice collaboration. But I wanted to ask you, Marcos, what collaboration means for you.

Marcos Troyjo: Thank you very much for the opportunity. Collaboration, for me, means cooperation. It means working together. And when you have, at the New Development Bank, countries as Brazil, Russia, India, China, South Africa, some of the most important emerging markets in the world, looking for opportunities in infrastructure, in sustainable development, that creates a very important platform for international cooperation. Especially at the current juncture when we have challenges in health, when we have challenges in the economy, and it seems to me that the current juncture is featuring a deficit in terms of international cooperation. So, if we can have multilateral development institutions, such as the NDB, bringing these countries that are so different together to work on issues of common interest, that is the best practical example of the value of cooperation, collaboration and working together.

David Gosset: Exactly. And you mentioned the BRICS countries. So, people call your institution the BRICS bank. But this is technically the New Development Bank, and in New Development Bank, there is “New Development”. And in your vision of your work, what does this notion of “New Development” mean?

Marcos Troyjo: It is true that we are new in the sense that it is an institution set up by emerging economies. But I think in terms of our ambition, becoming new has many other different dimensions. One of them, of course, has to do with becoming more of a complex and sophisticated institution. So, sovereign-backed loans are important, but there are other things, there are other financial services that are more of a 21st century nature that have to be offered to tackle 21st century problems. We must also have to be new in terms of new development thinking. There is a traditional approach to development that separates physical infrastructure from smart infrastructure. And I believe that going forward, we are going to be new in the ways that we can bring together problems that are traditionally classified as water sanitation, railroads, energy, but with other elements like connectivity, the infrastructure for the Fourth Industrial Revolution being there, providing the infrastructure elements for the new age of talent. If we are able to do that, then we are truly going to become a New Development Bank.

David Gosset: Talking about development, clearly, one thinks about progress. Would you say that collaboration is the very foundation for progress?

Marcos Troyjo: It’s one of them. It’s very difficult to make headway without cooperation. First, because you limit the outreach of the number of players involved. And second, you end up limiting the very geographical scope. I mean, like it or not, we’re living in one planet. And obviously, when we’re working together, our decisions may impact billions of people. So, it’s very important that no matter what your civilizational background is, what your geography is, that you’re willing and open to work on those issues in which common interests can be shared.

David Gosset: Thank you very much for this conversation. It has been done for a series whose name is A Time of Collaboration. And you, your background, and your institution, you are wonderful symbols of this time of collaboration. So, thank you very much. Obrigado.

Marcos Troyjo: Thank you so much. It was my pleasure. The New Development Bank is all about working together.

David Gosset: Thank you.