BRICS Summit 2024 in Russia
BRICS member countries what’s on agenda how the world see and the challenges
What is BRICS?
BRICS is an interstate association of five major emerging national economies—Brazil, Russia, India, China, and South Africa .
The group’s primary goal is to promote peace, stability, and cooperation among its member states.
The 2024 BRICS Summit is happening right now in Kazan, Russia, from October 22 to 24, 2024.
This year’s summit is historic because it’s the first time Egypt, Ethiopia, Iran, and the United Arab Emirates are joining as new members, following their accession at the 15th BRICS summit .
New Members: Egypt, Ethiopia, Iran, and the United Arab Emirates are now part of the BRICS family .
Host Country:
Russia is hosting the summit in Kazan .
Participating Leaders:
Vladimir Putin (Russia), Narendra Modi (India), Xi Jinping (China), Cyril Ramaphosa (South Africa), Abdel Fattah El-Sisi (Egypt), Abiy Ahmed (Ethiopia), Masoud Pezeshkian (Iran), and Mohammed bin Zayed Al Nahyan (United Arab Emirates) are attending the summit .
BRICS Agenda:
Russia is expected to push for dedollarization and the introduction of BRICS Pay, an alternative to the Western interbank system SWIFT .
Primary goal:
The group’s primary goal is to promote peace, stability, and cooperation among its member states.
The group started in 2006, and Brazil, Russia, India and China convened for the first BRIC summit in 2009. South Africa joined a year later.
Mission statement:
The BRICS alliance is on a mission to shake up the global economic and political landscape by challenging the dominance of the West. This powerhouse group of nations - Brazil, Russia, India, China, and South Africa - comes together every year for the BRICS summit, where they set priorities and discuss key issues. And this year marks the 16th summit!
So, what’s the ultimate goal of BRICS? It’s all about promoting economic growth, social inclusion, and global governance reforms .
Aims:
The alliance aims to strengthen its position in the world through active cooperation among member nations.
Some of the key areas of focus include:
Economic Cooperation Boosting trade and investment flows between member nations, and developing integrated trade and investment markets.
People-to-People Exchanges Fostering closer ties and mutual understanding among BRICS nations through cultural, educational, and sporting exchanges.
Political and Security Cooperation Promoting peace, security, and development for a more equitable and just world.
The BRICS Strategy for Economic Partnership 2025 outlines the group’s commitment to sustainable development, digital transformation, and overcoming social and economic imbalances .
With new members like Egypt, Ethiopia, Iran, and the United Arab Emirates joining the fold, BRICS is poised to become an even more influential player on the global stage.
Other Countries leaders interest
Leaders of several other countries that have shown an interest in deepening ties with BRICS are also participating, including Turkish President Recep Tayyip Erdogan and Vietnamese Prime Minister Pham Minh Chinh.
Un-Secratary General also expected to join BRICS Summit
United Nations Secretary-General Antonio Guterres is also expected to attend – and meet Putin in BRICS summit .
How the world sees?
The world sees the BRICS summit as a significant gathering of emerging national economies, aiming to promote peace, stability, and cooperation among its member states. This year’s summit in Kazan, Russia, marks the first meeting with Egypt, Ethiopia, Iran, and the United Arab Emirates as new members .
Global Perspectives
Western View:
Some Western policymakers have historically viewed BRICS as more bark than bite, doubting its ability to create an alternative to Western dominance in the global financial system.
Emerging Economies sees as a platform challenge the existing global order and promote multipolarity.
Pakistan latest status in joining BRICS
The latest status of Pakistan in BRICS :
Pakistan formally applied for BRICS membership on November 16, 2023.
Membership decision pending, with India's opposition and economic concerns cited.
Russia considers new partner category, potentially easing Pakistan's entry.
BRICS expansion expected in 2025, with Pakistan's fate to be determined.
It’s more likely expected india will favour pakistan this time as a changing scenario.
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I can’t buy a cup of coffe saddened to hear that pakistan is still not in the list of that ..
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