Brick by brick, member countries work to achieve greater BRICS cooperation

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Oct 25, 2024, 22:56 ET

BEIJING, Oct. 25, 2024 /PRNewswire/ -- A news report from Beijing Review:

As the world seeks stability and growth amid shifting geopolitical sands, the BRICS nations--Brazil, Russia, India, China and South Africa--are laying more foundational "bricks" for even greater cooperation. This group, expanded in January with the inclusion of new members, is building an influential structure of economic cooperation and development.

During the 2024 BRICS Summit held in Kazan, Russia, from October 22 to 24, BRICS member countries worked to cement their role as architects of prosperity for the Global South, crafting pathways to sustainable development and mutual progress.

The leaders at the summit adopted the Kazan Declaration and outlined the criteria for additional countries to become BRICS partner countries.

"The enlargement of BRICS is a major milestone in its history and a landmark event in the evolution of the international situation. At this summit, we have decided to invite many countries to become partner countries, which is another major progress in the development of BRICS," Chinese President Xi Jinping said during the summit's open plenary session.

"We must build on this milestone summit to set off anew, and forge ahead with one heart and one mind," he added.

The Kazan summit "serves as an opportunity to harness our collective strength to build a safer, more prosperous and equitable world," South African President Cyril Ramaphosa said, adding "in an interconnected world, the challenges faced by one nation affect all nations. Through solidarity, we seek to advance a unified effort and mutual support among nations."

During his speech, Xi proposed five major goals of building a BRICS committed to peace, innovation, green development, justice and closer people-to-people exchange.

"These proposals will elevate BRICS cooperation to new heights," Sudheendra Kulkarni, founder of India's Forum for a New South Asia, said, adding "the idea of building a BRICS committed to peace is particularly important in today's world, and all countries should respond."

Many countries in the Global South advocate political solutions to resolving disputes, Wang Youming, Director of the Institute of Developing Countries at the Beijing-based China Institute of International Studies, said.

This summit aimed to amplify the voices of these countries regarding ongoing global conflicts and to offer an alternative approach to resolving hotspot issues, Wang added.

Mohammed Saqib, founder and Secretary General of India China Economic and Cultural Council, said that each BRICS country has grappled with unique development challenges and has devised innovative solutions. By sharing these experiences, whether in poverty alleviation, sustainable urbanization, digital governance or public health, member countries can accelerate their progress and avoid pitfalls.

Exchange and mutual learning among the diverse civilizations of BRICS nations are key to fostering deeper cooperation and integration, Saqib said. This cultural and intellectual cross-pollination is essential for building understanding and identifying shared interests and values, which can serve as the foundation for long-term strategic alignment.

BRICS members now contribute about one third of the global GDP, more than the combined share of G7 countries. They account for about 31 percent of the world's land, 46 percent of the global population and 20 percent of global trade. The group also account for about 40 percent of the world's oil production and reserves.

"This means BRICS is in a position to meet the development requirements of not only its members but also non-member states and help alleviate global poverty," Yu Sui, a researcher with the China Center for Contemporary World Studies, said.

Kulkarni said that the expansion of BRICS has created a favorable atmosphere to push forward a new paradigm of global development, which is equitable and environmentally sustainable and fulfills the social and economic needs of the majority of the world population.

As the global landscape evolves, BRICS is poised to enhance development opportunities for countries in the Global South, Andile added. Stressing the urgency of accelerating some key BRICS initiatives to maximize their impact.

SOURCE Beijing Review