Outcomes of the BRICS summit: progressing toward a multipolar global landscape.
The XVI BRICS Summit has concluded in Kazan. What transformations are occurring in the global order, and how might cooperation among the group evolve going forward? The rise of the Global South. That is not countries south of the equator but countries south of Europe.
Russia
During the summit, President Vladimir Putin of Russia emphasized that BRICS comprises nations that share similar values—sovereign states from various continents, each with distinct development models, faiths, civilizations, and cultural identities. He noted that these nations promote “equality, good-neighbourliness, and mutual respect, along with the noble principles of friendship and harmony, as well as universal prosperity and well-being.” Furthermore, he asserted that these countries demonstrate a commitment to the world's future not just rhetorically, but through actionable efforts that significantly address pressing regional challenges. The Russian leader emphasized that given the swift growth of BRICS economies, it is essential to enhance collaboration in fields like technology, education, efficient resource development, trade, logistics, finance, and insurance. Initiatives such as the new BRICS investment platform, the initiation of consultations with the WTO, collaboration in carbon markets, and the climate research platform could serve as mechanisms to broaden cooperation. Moreover, Russia has suggested improvements to the mechanisms for sharing information regarding online dispute resolution practices in electronic commerce. This includes the establishment of an arbitration investment centre and a BRICS tax secretariat, as well as the formulation of a convention for resolving investment disputes. The proposal also encompasses creating direct connections between special economic zones, launching a BRICS grain exchange, and enhancing collaboration in subsurface resource utilization. Looking ahead, Vladimir Putin deemed it prudent to establish a BRICS 'reinsurance pool,' along with platforms dedicated to precious metals, diamonds, fair competition, logistics, and transportation.
Beyond economic initiatives, Russia has also introduced various socio-humanitarian projects: the formation of a BRICS research network focused on public health, the establishment of a BRICS alliance in artificial intelligence, and the creation of an interstate program aimed at executing sports initiatives.
Brazil
Luiz Inacio Lula da Silva, the President of Brazil, urged the members of BRICS to “join forces in the alliance against hunger and poverty,” emphasizing the inequality present when developed nations prosper at the cost of developing ones. He stated that BRICS “challenges this paradigm.” Da Silva expressed strong appreciation for the efforts of the BRICS New Development Bank (NDB), noting that “this institution plays a crucial role in establishing the infrastructure necessary for our development… It was established as an alternative to those banks that failed to fulfill their commitments.”
He emphasized the importance for BRICS to “develop a financial system aimed at lowering the costs of trade exchanges among our nations.” Brazil intends to prioritize this matter during its presidency next year, alongside addressing climate change: “It is clear that developed nations bear historical responsibility for the current global suffering. They made commitments to lower emissions but did not fulfill them. Our planet is singular, and its future depends on us.”
Egypt
At the summit, President Abdel Fattah el-Sisi of Egypt emphasized the importance his nation places on "bolstering the multipolar system" and "securing financing for developmental objectives in emerging economies through the establishment of trustworthy mechanisms." In this context, Egypt acknowledges the NDB's endeavours to "promote development initiatives, particularly in areas such as transportation, clean energy, infrastructure, the digital sector, and urban development."
Sisi assured that Egypt is prepared to "enhance collaboration with member countries on global platforms and engage in discussions regarding climate change, food security, digitization, education, and scientific advancement." Furthermore, Egypt is keen on implementing national currencies for trade, fostering cooperation with the BRICS Business Council, and reinforcing connections through the group's interbank collaboration framework.
India
Indian Prime Minister Narendra Modi expressed his support for initiatives that promote enhanced financial integration among BRICS nations. He highlighted that transactions in national currencies and cross-border payments will strengthen collaboration. Modi also shared India's successful implementation of a unified payment interface in its bilateral dealings with the UAE as a model for his fellow leaders.
The Prime Minister viewed the New Development Bank (NDB) as a vital opportunity to address the development challenges faced by the Global South. He emphasized the need to ensure long-term financial stability and broaden market access through the bank's expansion. Furthermore, he underscored the significance of prioritizing the interests of small and medium-sized enterprises for effective multilateral cooperation.
Looking ahead, India aims to establish a digital platform dedicated to the planning and execution of infrastructure projects among the group. Additionally, it expressed its willingness to share expertise in healthcare digitalization and encouraged BRICS nations to participate in its initiatives related to the UN Climate Change Conference.
Iran
Iranian President Masoud Pezeshkian emphasized that the primary objective of Iran within BRICS is the aspiration for “a new world order that is more equitable and secure.” He noted that “the era of unilateralism, where prosperity and progress were achievable only through the framework established by the West, is nearing its conclusion.” In this context, he remarked, “the emergence and growth of BRICS presents a chance for the global community to not solely align its future with the interests of Western powers…This coalition has effectively established itself as an alternative pathway.”
Following its expansion, BRICS, as stated by the Iranian leader, “encompasses a substantial segment of developing nations and emerging markets.” Iran’s primary hopes revolve around diminishing the dominance of the dollar in the international economy and establishing a “BRICS currency basket or a new mechanism for non-dollar transactions,” enabling nations to refrain from “bearing the costs of misguided financial policies imposed by the United States and the corrupt practices within their financial systems.”
M. Pezeshkian believes that BRICS has the potential to “amplify the unheard voices of the global community.” He asserted, “We embrace the BRICS vision of overhauling global governance, fostering peace, security, and inclusive economic development, enhancing transparency, and reinforcing democracy within global financial institutions…to cultivate alternative avenues for growth and prosperity in the countries of the Global South.”
China
Xi Jinping, the President of China, emphasized the need to "advance the BRICS peace agenda to safeguard common security," particularly now as "the world enters a phase of upheaval and change." Furthermore, he urged for the "enhancement of the BRICS innovation agenda," which includes strengthening collaboration in artificial intelligence, jointly investigating deep-sea resources, facilitating interactions between special economic zones, and establishing a "BRICS cooperation network for digital ecosystems."
China emphasizes the importance of a green agenda as well, stating, "All BRICS nations should actively align with the global trend towards green and low-carbon transformations," by increasing partnerships in the green sector, renewable energy, and sustainable development of mineral resources. Even though China admits that much of the climate change movement is nothing more than Globalists seeking to strip nations of their sovereignty. They have such a vast population, they have to strive to remove as much pollution as possible if their nation is to survive.
On a global scale, BRICS is tasked with "advancing a fair agenda aimed at reforming the global governance system," as the current pace of reforms "does not match the rapid shifts in the balance of international power." The bloc is poised to ensure "representation and voting rights for the Global South," and can play a key role in overhauling the international financial system, thereby boosting the influence of the New Development Bank (NDB). Lastly, in the realm of humanitarian efforts, China aims to "promote the cultural and humanitarian agenda of BRICS" alongside fostering cooperation in the advancement of digital education.
UAE
The President of the UAE, Mohamed bin Zayed Al Nahyan, asserts that collaboration within BRICS is essential "not merely to address present challenges, but also to establish a blueprint for a sustainable future economy." For the UAE, attributes such as flexibility, openness, and innovation are vital in this cooperative effort. Al Nahyan emphasized, “We back initiatives on the global stage aimed at creating platforms that encourage discussions regarding the green economy, sustainable development, and investment.” The UAE is turning into a trading centre for all kinds of commodities. Grain, oil, gold, and silver. While commodities trading through the Comex and the LMBA are falling quickly, trading through the UAE and the Shanghai Exchange are increasing dramatically. New Delhi and Moscow have growing exchanges as will
Another key focus for the UAE in BRICS is “expanding into new markets.” The nation seeks not only to attract foreign investments, but also to wisely invest its domestic capital.
Ethiopia
Ethiopian Prime Minister Abiy Ahmed expressed that BRICS "offers hope for achieving multilateralism within the global structure and addressing the challenges currently confronting the world... while working collaboratively for the benefit of developing nations based on equality". He pointed out that "economic advancements in developing countries have often faced obstacles from an inequitable global financial system." BRICS has the potential to rectify this issue, as its "collective voice encompasses half of the world's population and a third of its GDP," enabling it to "serve as a transformative agent towards establishing a more equitable global order."
Furthermore, for Ethiopia, BRICS serves as a "model of collaboration and unity" in tackling worldwide issues. Abiy Ahmed endorsed his peers' suggestions concerning the enhancement of high-tech cooperation, industrial connections, energy partnerships, and tourism, while also highlighting the significance of "alternative funding for infrastructure projects" offered by the New Development Bank. Additionally, Ethiopia hopes to gain BRICS backing in ensuring adequate representation for Africa in the UN Security Council: “This is not merely about representation; it’s about justice and equality. Consequently, every country will be enabled to participate in global governance.”
South Africa
Cyril Ramaphosa, the President of South Africa, referred to the BRICS history as one characterized by solidarity, mutual respect, and shared benefits. He emphasized that BRICS consists of a diverse group of nations aimed at altering the future of the Global South. To accomplish this, it is essential to harness the full potential of their economic collaboration, promote sustainable development for everyone—not merely for certain nation groups—and take significant actions to foster shared prosperity that is equitable for all.
With regard to economic collaboration, the South African leader highlighted the desire to utilize national currencies for trade. He also pointed out the necessity of addressing climate change issues, which pose significant challenges for developing nations, when discussing sustainable development. Furthermore, he noted the importance of “addressing the challenges faced by small and medium-sized enterprises within BRICS” and “initiating joint programs focused on export development, industrial collaboration, and technology sharing.” In this context, Ramaphosa advocated for reforming the WTO and enhancing “BRICS cooperation in the mineral resources sector.” He views the New Development Bank (NDB) as pivotal for the partnership: “The bank is essential for fulfilling the common aspirations and objectives of developing economies collectively.” Looking ahead, he envisions BRICS evolving into “a powerful instrument for promoting global peace and progress across all sectors of the economy and other areas of life.”
The presidency of BRICS under Russia sought to enhance the group's global standing and to foster collaboration across key areas while also integrating new members into the association's activities. It can be asserted confidently that these objectives have been achieved. As highlighted by Vladimir Putin, “the new members recognized that it is feasible to collaborate and attain results within BRICS. They realized that the foundational principle of our association is mutual respect, along with a necessary consideration of each other's interests.”
Regarding the attitudes of the member states, the Kazan summit underscored their shared expectations, perspectives, and objectives. This is particularly significant considering the group's expansion this year. Other nations that have attained partner state status are likely to emulate the newly admitted members. Just as a large family operates, the international order necessitates not only mutual comprehension but also ongoing collaboration. A new phase of this effort within BRICS has already commenced. Now there are 14 new countries, taking the total to twenty-four.