By Paul Jouvenet, legal advisor, essayist and consultant in international affairs. Eurasia Business News, October 23, 2024. Article no. 1268.
Russian President Vladimir Putin opened a meeting of the 16th BRICS summit in Kazan in a restricted format. In addition to President Putin, Egyptian President Abdel Fattah al-Sisi, Indian Prime Minister Narendra Modi, Iranian President Massoud Pezeschkian, Chinese President Xi Jinping, UAE President Mohammed bin Zayed Al Nahyan, Ethiopian Prime Minister Abiy Ahmed, South African President Cyril Ramaphosa and Brazilian Foreign Minister Mauro Luiz Yeker Vieira are sitting at the summit’s opening meeting.
Vladimir Putin stressed that the meeting in a narrow format is a key event of the Russian Chairmanship, which is taking place under the slogan “Strengthening multilateralism for equitable global development and security“. The Russian leader stressed that Russia is approaching the organization of joint activities within the framework of the association this year with great responsibility.
According to him, Russia, as the country chairing the group for the year 2024, seeks to strengthen the authority of the BRICS, increase its role in world affairs, solve pressing global and regional problems. The Russian Federation has contributed in every possible way to the deepening of multifaceted cooperation among the BRICS countries in the three main areas of politics and security, economy and finance, cultural and humanitarian contacts, and has also done its utmost to ensure the smooth and fullest possible integration of the new member countries into the work of the association.
In a restricted format, it was proposed to discuss the most urgent aspects of the global agenda and exchange views on cooperation among the BRICS countries in the international arena, including the settlement of acute regional conflicts. It was also planned to discuss the implementation of two important decisions of the previous Johannesburg summit: the deepening of financial cooperation within the BRICS and the expansion of the association.
The Russian president noted that it would be wrong to ignore the significant interest of the countries of the South and East in strengthening their ties with the BRICS. According to him, more than 30 states have already expressed a desire to establish such contacts in one form or another. At the same time, he stressed the need to maintain a balance in order to avoid a decrease in the effectiveness of the BRICS.
Vladimir Putin recalled that at the previous summit in Johannesburg, on 22 and 23 August 2023, it had been decided to develop modalities and categories of partner states of the association and to form a list of countries to obtain such a status. The decision in this regard should be reflected in the Kazan Final Declaration.
The Russian president noted that the BRICS are showing dynamic development and strengthening of their authority in world affairs. He stressed that the countries of the association have enormous political, economic, scientific, technological and human potential. He also added that BRICS members, representing different continents, development models, religions and civilizations, are united by common values and worldview. According to him, countries advocate equality, good neighborliness, mutual respect and strive to establish the ideals of friendship, harmony and common prosperity.
In most of the Member states of the group, outstripping rates of development are expected in the medium term, Putin said. “The average growth of the BRICS economies in 2024-2025 will be, according to preliminary estimates, 3.8% with an increase in world GDP of 3.2%-3.3%,” he said. The share of the BRICS countries in terms of purchasing power parity, according to him, by the end of 2024 will be 36.7%, which is certainly higher than the share of the Group of Seven (G7) countries.
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On October 22, the 16th BRICS summit began in Kazan. It consists of two parts. The first part is a meeting of the organization’s member states on the theme “Strengthening Multilateralism for Equitable Global Development and Security,” which is the slogan of the Russian BRICS chairmanship in 2024.
By 2030, the BRICS+ could together account for 40% of global GDP and about 45% of the population, with 3.5 billion people. New memberships from 1 January 2024 will help to reach these numbers.
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© Copyright 2024 – Eurasia Business News. Article no. 1268.
Eurasia Business News 