The three-day 16th BRICS Summit kicked off from 22 to 24 October 2024 concluded in Russian city of Kazan.
The summit was attended by the world leaders and about 20,000 delegates from 36 nations including leaders of China’s Xi Jinping and India’s Narendra Modi and UN Secretary General Antonio Guterres.
Brazil President Luiz Inácio Lula da Silva was absent due to sustained head injury.
In 2006, Brazil, Russia, India and China created the “BRIC” group. Later, South Africa was added in 2010 and its name changed from BRIC to BRICS representing around 46% of the world’s population and over 36% of global GDP.
The aim of the alliance is to challenge the economic and political monopoly of the West. The summit’s main goal is to accelerate efforts to minimize the number of dollar transactions, thereby limiting the US’ ability to exercise the threat of sanctions to impose its influence on global geopolitics.
The Kazan summit also announced Argentina, Egypt, Ethiopia, Iran, the United Arab Emirates, Saudi Arabia, Azerbaijan, Malaysia, and Turkey, Zimbabwe, Cuba, Venezuela, Sri Lanka, Syria, and Belarus as new members.
As Russian President Vladimir Putin is facing isolation from the global stage, this summit was very important for Putin to show that he is not alone yet.
The summit discussed diplomatic discussions and high-level bilateral talks on key global issues, challenging the global economy, strategic security, the development of the Global South and multilateralism, as well as geopolitical issues, mutual trade and de-dollarization.
