2nd BRICS Anti-Corruption Working Group Meeting begins in Hyderabad

Why in news

The 2nd BRICS Anti-Corruption Working Group (ACWG) Meeting, along with the 2nd Meeting of the BRICS Expert Network on Asset Recovery, commenced in Hyderabad.

Exam relevance

GS2 · International Relations, Governance · Prelims · Mains

Key facts

1. The 2nd BRICS Anti-Corruption Working Group (ACWG) Meeting commenced in Hyderabad.
2. The meeting also included the 2nd Meeting of the BRICS Expert Network on Asset Recovery.
3. Ms. Rachna Shah, Secretary, Department of Personnel & Training, Government of India, was the Chief Guest at the inaugural session.
4. Secretary Rachna Shah called for stronger BRICS cooperation to address fugitive offenders and recover illicit assets.
5. Corruption was identified as a major obstacle to sustainable and inclusive development, diverting public resources and undermining public trust.
6. The need for collective, coordinated, and sustained international cooperation to prevent illicit financial flows, safeguard public resources, and strengthen the international anti-corruption architecture was highlighted.

Prelims pointers

• The 2nd BRICS Anti-Corruption Working Group (ACWG) Meeting was held in Hyderabad.
• The meeting also included the 2nd Meeting of the BRICS Expert Network on Asset Recovery.
• Secretary, Department of Personnel & Training, Government of India, was the Chief Guest.
• Key areas of focus include addressing fugitive offenders, recovering illicit assets, and preventing illicit financial flows.

Mains practice question

Discuss the significance of the BRICS Anti-Corruption Working Group in strengthening international cooperation against corruption and combating illicit financial flows. What challenges do such multilateral forums face in achieving their objectives?

Static linkage

BRICS is an intergovernmental organization comprising Brazil, Russia, India, China, and South Africa. It aims to promote cooperation across various sectors, including economic, political, and security issues. The Anti-Corruption Working Group (ACWG) is a specific forum within BRICS dedicated to fostering international collaboration to combat corruption.

Significance

The meeting signifies the BRICS nations' collective commitment to combating corruption, which is recognized as a major impediment to sustainable and inclusive development. By focusing on stronger cooperation to address fugitive offenders and recover illicit assets, the initiative aims to enhance financial integrity and repatriate stolen wealth. This collaborative effort is crucial for safeguarding public resources, strengthening public trust, and contributing to a more robust international anti-corruption architecture, thereby promoting good governance and accountability among member states.

Way forward

Not specified in source