BRICS officially adds 13 new nations to the alliance as partner countries (not full members).
🇩🇿 Algeria
🇧🇾 Belarus
🇧🇴 Bolivia
🇨🇺 Cuba
🇮🇩 Indonesia
🇰🇿 Kazakhstan
🇲🇾 Malaysia
🇳🇬 Nigeria
🇹🇠Thailand
🇹🇷 Turkey
🇺🇬 Uganda
🇺🇿 Uzbekistan
🇻🇳 Vietnam
Key Takeaways from the BRICS Summit: Highlights of the Kazan Declaration
The recent BRICS summit held in Kazan, Russia, yielded significant insights, encapsulated in the Kazan Declaration. Here are the key points discussed by the member nations:
On Ukraine
The BRICS nations emphasized the importance of adhering to the UN Charter, advocating for dialogue and diplomacy to peacefully resolve the ongoing conflict in Ukraine. They expressed appreciation for mediation efforts aimed at fostering peace.
On the Middle East
The declaration conveyed grave concerns about the worsening humanitarian crisis in the Occupied Palestinian Territory, particularly due to the escalation of violence in Gaza and the West Bank. The member states condemned the loss of civilian lives and destruction of infrastructure resulting from military actions, calling for an immediate cessation of hostilities.
On Western Sanctions
BRICS leaders voiced their worries regarding the adverse effects of unilateral sanctions on the global economy and international trade. They stressed the need for equitable measures to achieve sustainable development goals.
On Reforming the International Financial System
A call for reforming the current international financial architecture was made, with an emphasis on inclusivity and fairness in addressing global financial challenges.
On the BRICS Grain Exchange
The summit welcomed Russia’s initiative to establish a grain trading platform within BRICS, aiming to expand into other agricultural sectors to enhance food security among member states.
On Cross-Border Payment Systems
Recognizing the benefits of efficient cross-border payment systems, BRICS leaders supported the use of local currencies in transactions, promoting reduced trade barriers and improved financial inclusivity.
On BRICS Clear Depositary
The feasibility of creating an independent cross-border settlement infrastructure, dubbed BRICS Clear, was discussed, alongside the potential establishment of a BRICS (Re)Insurance Company.
On Financial Innovation
The summit highlighted the role of the BRICS Interbank Cooperation Mechanism in promoting innovative financial practices and local currency financing for various projects.
On the IMF
BRICS nations reaffirmed their commitment to a robust Global Financial Safety Net, emphasizing the need for a well-resourced IMF at its core.
On G20 Cooperation
The importance of a functioning G20, operating on consensus and focused on actionable outcomes, was recognized.
On Preventing Future Pandemics
Support was expressed for the initiatives of the BRICS R&D Vaccine Center and the development of an Integrated Early Warning System to mitigate risks of mass infectious diseases.
On Big Cat Conservation
The declaration acknowledged India’s initiative to create an International Big Cats Alliance, encouraging collaborative efforts among BRICS nations to preserve these vulnerable species.
The Kazan Declaration serves as a pivotal document reflecting the collective stance of BRICS countries on pressing global issues, underlining their commitment to cooperation and sustainable development.