MOSCOW, April 22 (Xinhua) -- After the COVID-19 pandemic is over, the importance of cooperation within BRICS will increase, according to a report of Russian think tank Valdai Discussion Club.

"In a world where unilateral action is becoming more prevalent, the number of conflicts is growing, and many institutions and forums are paralyzed, BRICS may well meet the demand for multilateralism and global governance," the report said.

BRICS should openly position itself as a global governance institution, which does not seek to weaken anyone or to take anyone's place, but to fill the global governance void, the think tank said.

It said that the five nations should speed up the development of innovative financial tools to blunt the damage caused by U.S. sanctions, and to reduce the U.S. dollar's significance in favor of national currencies in trade between them and with third countries.

The coronavirus outbreak has shone a spotlight on the importance of the BRICS countries' cooperation in tackling key challenges such as environmental degradation, climate change and pandemics, the report said.

Other countries must be part of the effort, it added.

A new enhanced BRICS+ should maintain a dialogue with the countries that are most committed to the goal of forming a polycentric world order, pursue an independent policy and help solve specific global and regional problems, the think tank noted. Enditem

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