By love-89.com From October 22 to 24, the 16th BRICS Leaders’ Meeting took place in Kazan, Russia, capturing significant international attention as it marks the first summit following a historic expansion of the group. Various foreign media have highlighted that in the inaugural year of what is being referred to as “Big BRICS Cooperation,” the scope of collaboration is set to widen, offering hope for the establishment of a more just global order.
During this summit, over 20 world leaders and representatives from more than 30 countries convened, focusing on the theme of “Strengthening Multilateralism and Promoting Global Fair Development and Security.” According to the BBC, this summit is particularly notable as it follows the BRICS expansion, which now signifies that member countries account for nearly half of the global population and approximately 30% of global GDP, along with one-fifth of international trade. Economically, their combined output, when measured by purchasing power parity, has eclipsed that of the G7.
The Independent in Russia reported that the allure of BRICS countries is on the rise, with 33 nations expressing interest in joining the mechanism in various capacities.
At the summit, a Chinese leader emphasized the importance of fostering a multipolar world that is equitable and inclusive for economic globalization and international sustainability. China plans to collaborate with BRICS nations in numerous areas, including sustainable development, clean energy, and education.
Brazil’s Brasil de Fato highlighted the New Development Bank, one of BRICS’ flagship projects, which has financed over 100 projects since its inception in 2018, totaling approximately $35 billion in loans. During the summit, Dilma Rousseff, the former Brazilian president and current president of the New Development Bank, pointed out that expanding the scale of Big BRICS Cooperation and fostering project collaboration among Global South nations is a key priority.
South African President spokesperson Vincent Magwenya noted the significant role that Big BRICS Cooperation plays in promoting a multipolar world, mutually beneficial collaboration, and sustainable development. Egypt’s daily newspaper emphasized that Big BRICS Cooperation has evolved beyond traditional economic realms into a broader and deeper spectrum, with President Sisi asserting that it could benefit all member nations, particularly in trade.
Reuters reported that during the summit in Kazan, BRICS leaders engaged in discussions on economic and trade collaboration, cross-border payment systems, regional issues, and the expansion of BRICS, anticipating that their influence will further grow. Euronews pointed out that this meeting offers Global South countries a chance to narrate their stories on the global stage, indicating a shift in power balance within the global framework as emerging economies seek a stronger and fairer international cooperation structure.
Bahrukh Ygnakuchu, a representative from Ethiopia’s Fana Broadcasting, remarked that the New Development Bank provides flexible financing for the development of South countries. Ethiopia, as a new participant in the BRICS summit, aims to leverage the cooperation mechanism to enhance trade and infrastructure. Ygnakuchu emphasized Ethiopia’s vast market and growing potential to contribute resources to BRICS.
Additionally, Turkish newspaper Sabah reported on a meeting between Turkish President Erdoğan and Russian President Putin at the summit, highlighting Turkey’s effort to deepen ties with non-Western alliances, which is expected to positively impact multilateral economic relationships with BRICS member countries.
According to The New York Times, Alexander Gabuev, a researcher at the Carnegie Moscow Center, noted that the BRICS cooperation mechanism represents one of the most powerful and representative efforts to advance the development of Global South nations and is instrumental in establishing a new world order.