BRICS Summit in Kazan: Leaders Discuss Cooperation and Expansion
The 16th BRICS Summit concluded in Kazan, Russia, with significant discussions on cooperation and expansion. The event took place at the Kazan Expo International Exhibition Centre, where Russian President Vladimir Putin welcomed representatives from BRICS countries. The summit included both narrow and expanded format meetings.
Narrow-Format Meeting
World leaders such as Egyptian President Abdel Fattah El-Sisi, Indian Prime Minister Narendra Modi, Iranian President Masoud Pezeshkian, Chinese President Xi Jinping, UAE President Mohamed bin Zayed Al Nahyan, Ethiopian Prime Minister Abiy Ahmed, South African President Cyril Ramaphosa, and Brazilian Foreign Minister Mauro Vieira participated. President Putin delivered the opening address, focusing on financial cooperation and potential expansion.
Expanded-Format Meeting
In the expanded session, President Putin emphasized economic cooperation, predicting a 3.8% growth for BRICS nations in 2024-2025. He proposed a new BRICS investment platform to support national economies and the Global South and East. Brazilian President Lula da Silva, via video link, highlighted BRICS’ role in the global natural resources market and called for a unified financial system.
Key Proposals and Outcomes
Iranian President Pezeshkian suggested developing a new energy transit network, leveraging Iran’s strategic position. BRICS New Development Bank President Dilma Rousseff reported that the NDB accounts for 28.3% of BRICS financing in national currencies. The summit concluded with the adoption of the Kazan Declaration, summarizing key outcomes and Russia’s role as BRICS Chair.
The summit began on 22 October with a welcoming ceremony and will continue on 24 October in the BRICS+ format, involving representatives from 36 countries. The event, under the motto “Strengthening Multilateralism for Equitable Global Development and Security,” is a key part of Russia’s BRICS Chairmanship.
Doubts Revealed
BRICS -: BRICS is a group of five countries: Brazil, Russia, India, China, and South Africa. They work together to improve their economies and solve common problems.
Kazan -: Kazan is a city in Russia where the 16th BRICS Summit was held. It is known for its rich history and cultural diversity.
Summit -: A summit is a meeting where leaders from different countries come together to discuss important issues and make decisions.
Vladimir Putin -: Vladimir Putin is the President of Russia. He is one of the leaders who attended the BRICS Summit.
Narendra Modi -: Narendra Modi is the Prime Minister of India. He represents India in international meetings like the BRICS Summit.
Lula da Silva -: Lula da Silva is the President of Brazil. He talked about having a unified financial system at the BRICS Summit.
Masoud Pezeshkian -: Masoud Pezeshkian is the President of Iran. He suggested creating a new energy transit network during the summit.
Kazan Declaration -: The Kazan Declaration is a document that summarizes the agreements and discussions from the BRICS Summit in Kazan.
BRICS+ format -: The BRICS+ format means that other countries, besides the original BRICS members, can join discussions and activities to expand cooperation.