BRICS is in need of restructuring. This sort of change is eminently necessary in order to transform BRICS into an institution focusing not only on economic affairs but also on a wide range of global issues, according to experts at a forum on Oct. 12.

Delivering his keynote speech at a forum on BRICS and global governance, held by Beijing-based think tank Pangoal Institution, He Yafei, former vice minister of foreign affairs, praised BRICS for its role as a global economic governance platform. He also expressed appreciation for BRICS as a voice on global challenges like climate change and energy.

Consisting of five large emerging economies, BRICS has turned a phase of global governance dominated by developed countries into a phase jointly directed by developing and developed countries, He said. He also praised the contribution BRICS has made to global poverty relief.

China's Ministry of Commerce said a free trade area would be "a significant form of cooperation" between BRICS nations, Xinhua News Agency reported. At a panel discussion during the forum, Liang Yanfen, an expert from the ministry's affiliated institute, stated that free trade areas between China and India would be practical, as the two countries are both maintaining a relatively high growth rate.

Although China and India are growing swiftly, the economies in the other three BRICS member countries are not as brisk. Speaking at another panel discussion regarding the future of BRICS, Zhu Feng, director of the Institute of International relations at Nanjing University, said that BRICS will face difficulties if all five member countries cannot energize their economies. Ren Lin, from the Chinese Academy of Social Sciences (CASS), echoed Zhu's view, saying that BRICS member countries should focus on investment rather than trade, giving priority to raising the value of their products.

Zhu held the view that more countries could be included in the current BRICS mechanism in order to rejuvenate the mechanism itself. Furthermore, BRICS could cooperate with the Belt and Road Initiative to find a new development mode.

"The Belt and Road Initiative could replace BRICS, as the actions of the institution are showing a slowdown trend," said Zhu.

At the same panel discussion, experts specializing in international affairs expressed their hope that BRICS would act not only as an economic group but also as a political force in global decision-making.

As BRICS faces economic difficulties and other challenges, Sun Yanfeng, an expert from China Contemporary Institute of International Relations, said that BRICS should increase its political presence and facilitate more trade and tourism among its member countries. Sun's opinion was echoed by an expert from CASS, Xu Wenhong, who suggested that BRICS could transfer its attention to global governance issues like climate change, Internet development and deep-sea exploration.