The 2024 BRICS Summit will be held in Kazan, Russia, from October 22 to 24, marking the first gathering of BRICS countries with five new members. The summit aims to prioritize partnership and cooperation in politics, economy, finance, culture, and humanitarian ties.
Main topics for discussion include global governance reform, integration of new members, and the establishment of a BRICS payment system. The summit also touches on climate change, energy cooperation, supply chain security, and scientific collaboration.
With over 40% of the world’s population and a quarter of the global GDP, BRICS is a significant economic powerhouse. The summit seeks to address imbalances in international governance, enhancing solidarity among member nations.
Among the key focuses are strengthening strategic partnerships in trade, investment, innovation, and technology. The summit will explore alternative payment systems, energy, and infrastructure projects through the New Development Bank (NDB).
Addressing imbalanced international governance, the summit focuses on multilateralism for equitable global development and security. It aims to reform, not dismantle, the current global system to provide fairness and equity for all nations involved.
Ultimately, BRICS serves to complement existing international financial institutions like the World Bank, fostering diversity in the global financial system while advocating for the greater voice of developing nations in global affairs.