BRICS Summit and the Growing Global South Alliance
By Lawal Sale
World leaders, mostly from the countries of the Global South, are converging in Kazan city of Tatarstan Republic in Russian Federation for the 16th BRICS Summit from October 22 – 24, 2024.
Russian President Vladimir Putin, who took over the chairmanship of the BRICS bloc beginning from January this year, will host the first ever BRICS+ Summit in Kazan. There, the founding members of the BRICS – Brazil, Russia, India, China and South Africa will formally welcome into their fold five new members: Egypt, Ethiopia, Iran, and United Arab Emirates (UAE).
BRICS, originally comprising Brazil, Russia, India, China, and South Africa was founded in 2009. The bloc operates by consensus, and all five original members are also members of the Group of 20 (G20).
Some cardinal objectives of the BRICS bloc are to stimulate regional development and improve multilateral trading systems while ensuring better emerging economies, energy efficiency, and climate control.
The fundamental goals are, however, aimed at promoting cooperation, dialogue, and transparency in a proactive and pragmatic manner.
Similarly, the priorities of the now BRICS+ are promoting multilateralism, inclusive world order, and win-win cooperation for a peaceful and harmonious community community with a shared future for mankind.
The motto of this edition of BRICS+ Summit in Kazan, is “Strengthening Multilaterasism for Equitable Global Development and Security.”
Earlier, the Russian authorities declared that during its BRICS chairmanship, it will focus on “promoting the entire range of partnership and cooperation within the framework of the association on three key tracks – politics and security, the economy and finance, and cultural and humanitarian ties”.
In another development, President Putin in his remarks during a meeting with Turkmen President Serdar Berdimuhamedov, stated that “Russia advocates for broadest possible international discussion on the parameters of interaction in the emerging multipolar world and is open to discussing the construction of a new world order with all our friends, partners, and like minded countries, including within the framework of Commonwealth of Independent States (CIS), EAEU, the Shanghai Cooperation Organization (SCO), and BRICS”.
Since its inception, the BRICS has been an important platform for cooperation among the Global South nations and emerging markets.
The doubling of its membership in January 2024 was aimed at increasing the bloc’s clout in the global stage.
It is expected that during this summit, some dozen countries would express interest in joining the bloc either formerly or through various level of engagement.
According to President Putin, “Russia is committed to the bloc’s expansion, but the bloc will consider the degrees to which many other countries, about 30 of them are prepared to join the BRICS+ multidimensional agenda in one form or another”.
He further reiterated that “to this end, the bloc will start working on modalities of new category of BRICS.
He said, “Naturally, we will focus on enhancing foreign policy coordination among the member countries and on jointly seeking effective responses to the challenges and threats to international and regional security and stability.
President Putin maintained that “we will contribute to the practical implementation of the strategy for BRICS Economic Partnership 2025 and the Action Plan for BRICS innovation Cooperation 2021-2024 for ensuring energy and food security, enhancing the role of BRICS in the international monetary system, expanding interbank cooperation and expanding the use of national currencies in mutual trade”.
Available statistics indicate that the expanded BRICS or BRICS+ countries cover about 30% of the land surface, about 45% of the world’s population, 40% of global oil production, and about a quarter of the world’s goods exports. By 2028, the GDP of BRICS+ countries in terms of purchasing power parity will account for 37% of the global total.
Global Affairs experts are of the opinion that the BRICS cooperation mechanism is an important platform for cooperation among emerging markets and developing countries.
Since its founding in 2009, the mechanism has continuously strengthened its cohesiveness, consolidated its foundation for cooperation, expanded its scope of cooperation and improved its influence, adding that it has become a positive and stable force for good in international affairs. BRICS is a structure that cannot be ignored.
Meanwhile, Kremlin’s presidential aide Yury Ushakov, said about 32 other countries have been invited to attend the Summit and have confirmed their participation in the upcoming Summit, with 24 countries represented by their heads of state and eight others by high-ranking officials. Ushakov also added that the secretary’s general of several international organisations, including the UN’s Antonio Gutteres, will attend the event.
He further emphasised that the 16th BRICS+ Summit could turn into the largest foreign policy event that has ever been held in Russia.
— Sale is an Abuja-based Global Affairs Analyst ([email protected])
