BRICS Group, Pillar of Multipolar World and Economic Globalization

Work began on Wednesday, October 23, the second day of the BRICS Super Summit in Kazan, Russian republic of Tatarstan. During the general meeting and during the limited meetings, they will continue to discuss the strengthening of economic and trade ties between the ten countries of the group, the introduction of an interbank financial system that will allow for settlements at the national level. The Kazan summit is attended by delegations from 36 countries and heads of many international organizations, including UN Secretary General António Guterres.

Most of the multilateral meetings will take place today (Wednesday, October 23), but in the meantime, Russian President and host Vladimir Putin met with leaders of the group’s member countries and Dilma Rousseff, president of the BRICS New Development Bank (NDB), with whom Putin discussed details of a new independent payment system to be launched soon by the lending institution based in Shanghai, China. It is necessary to expand the use of local currencies “to increase the financial independence of BRICS member countries and minimize geopolitical risks,” Putin stressed, recalling that the bank has financed projects worth a total of $33 billion since 2018.

At the first general meeting, the leaders of the group, which includes Brazil, Russia, India, China, South Africa, and from January 2024 Egypt, Ethiopia, Iran, the United Arab Emirates, and Saudi Arabia (status to be determined later), agreed on a common BRICS position on the situation in Ukraine, which will be set out in the final declaration of the Kazan summit. “The wording has already been agreed upon, and it found no objections from anyone,” Ushakov said.

In a statement, Indian Prime Minister Narendra Modi said India supports “the early restoration of peace and stability” and is ready to offer assistance. “We are in regular contact about the ongoing conflict between Russia and Ukraine. As I have stated earlier, we believe that solutions to problems should be achieved only through peaceful means. We fully support the early restoration of peace and stability. In all our efforts, humanity is a priority. India remains ready to extend all possible assistance in the future as well,” the Indian Prime Minister emphasized.

On the first day of the BRICS summit, Putin held a series of bilateral meetings with Modi, Chinese President Xi Jinping, and South African President Cyril Ramaphosa. After his meeting with Putin, Modi called the results of the meeting “excellent.” The Indian Prime Minister expressed gratitude to Russia for chairing BRICS and wished a successful summit. The two leaders reviewed the full range of bilateral relations, paying special attention to progress in implementing the decisions taken during their last bilateral meeting in Moscow in July. Putin and Modi also shared views on regional and global issues, including the ongoing conflict in Ukraine. Finally, the two leaders exchanged ideas on how to “further energize” Russia-India partnership in various sectors.

Also, on the sidelines of the BRICS summit, the Russian president and his Chinese counterpart Xi Jinping analyzed various specific issues of bilateral relations. The two leaders outlined a program of future personal contacts. “The relations between Russia and China represent a privileged strategic partnership. And they have all the prerequisites for development,” Russian presidential spokesman Dmitry Peskov said after the meeting. Putin and Xi talked about Moscow and Beijing’s relations with the West at a time when “the fundamental and vital interests of the two countries are affected.” In this context, the two presidents reiterated that “their states share positions on the world situation.”

For Xi Jinping, the BRICS cooperation mechanism “represents a framework for promoting a just and orderly multipolar world, as well as inclusive economic globalization.” “The BRICS group,” the Chinese leader emphasized, “is the most important platform for solidarity and cooperation between emerging market and developing countries in the world today.”

According to the Chinese leader, “deep friendship” between China and Russia will remain unchanged despite chaos in the international arena and changes not seen in a century. Xi Jinping said bilateral relations have made “great progress” and achieved a series of breakthrough results. “The way in which large neighboring countries can get along without taking sides, clashing or targeting third parties has been explored,” the Chinese leader said, specifying that Moscow and Beijing “continue to expand strategic cooperation in all fields.” “At present, the world is undergoing great changes not seen in a century, and the international situation is changing and becoming chaotic. However, I firmly believe that the deep friendship that has bound China and Russia for generations will not change,” Xi Jinping finally said.

The agenda for the second day of the summit includes a number of meetings in the multilateral format, an official welcoming ceremony for heads of international delegations, as well as numerous bilateral meetings. President Putin will receive Iranian President Massoud Pezeshkian and Turkish President Recep Tayyip Erdogan for talks.

The BRICS leaders decided to analyze the prospects of the group’s expansion with new member states. “BRICS expansion is not on the agenda of the Kazan summit, but this issue will still be discussed,” said Dmitry Peskov, according to whom “the topic itself, the topic of expansion is not on the agenda of the Kazan summit. However, there are different points of view, and we will talk about all of that today.” During the Kazan summit, the status of BRICS “partner country” will be formalized, which 13 countries of the world have applied for. Russian presidential adviser Yuri Ushakov said the issue was “the subject of consultations between the delegations” and would be “pondered by the leaders.” During a speech at the BRICS meeting, President Putin said that “up to 30 countries around the world have expressed a desire to join BRICS in one capacity or another.” In particular, Turkey wants to become a full member of BRICS, and this topic will be discussed by Putin and Erdogan today.

Finally, another centerpiece of the second day of the summit will be bilateral talks between Chinese President Xi Jinping and Indian Prime Minister Narendra Modi, who will meet for summit talks for the first time since 2022.