16th BRICS Summit: Kazan Declaration and Key Outcomes
Summit Overview
- Host: Russia (Kazan), October 2024.
- Theme: "Strengthening Multilateralism for Just Global Development and Security."
- Expansion: First summit featuring the expanded membership (Egypt, Ethiopia, Iran, and UAE) alongside original members (Brazil, Russia, India, China, South Africa).
Economic Initiatives and De-dollarization
- BRICS Pay: Discussion on a cross-border settlement system to bypass SWIFT and reduce reliance on the US Dollar.
- Local Currency Trade: Encouragement of financial transactions using national currencies to mitigate external economic shocks.
- BRICS Grain Exchange: A proposal by Russia to establish a platform for trading grain, potentially expanding to other commodities like oil and gas.
- New Development Bank (NDB): Commitment to increase financing in local currencies for infrastructure projects in the Global South.
Geopolitical Stance
- Global Governance Reform: A strong call for reforming the UN Security Council to make it more representative of developing nations.
- Middle East Conflict: Expressed grave concern over the humanitarian crisis in Gaza and Lebanon; called for an immediate ceasefire.
- "Partner Country" Model: Instead of immediate full membership for new applicants, a new "Partner" status was introduced for 13 countries (including Algeria, Indonesia, and Vietnam).
India’s Key Contributions
- Anti-Terrorism: PM Modi emphasized the need for a "Comprehensive Convention on International Terrorism" (CCIT) at the UN.
- Non-Western Approach: Stated that BRICS is "not an anti-West" group but a "non-West" platform focused on global equity.
- Bilateral Breakthrough: Significant sideline meeting between India and China (Modi-Xi) following the agreement on border patrolling at the LAC (Demchok and Depsang).
Comparison of Original vs. New Membership Structure
| Category | Details |
|---|---|
| Original Members (2009/2010) | Brazil, Russia, India, China, South Africa |
| New Full Members (2024) | Egypt, Ethiopia, Iran, United Arab Emirates (UAE) |
| New "Partner" Status | 13 countries (e.g., Turkey, Nigeria, Thailand, Indonesia) |
| Economic Weight | Now represents over 37% of global GDP (PPP) and 45% of world population |
Future Focus Areas
- AI and Technology: Establishment of a BRICS AI Study Group to ensure ethical development.
- Space Cooperation: Expansion of the BRICS Remote Sensing Satellite Constellation.
- Healthcare: Focus on the BRICS Vaccine R&D Center and joint medical research.