The BRICS Summit, which the world was eagerly awaiting, has ended

The XV BRICS Summit came to the fore as a historic summit in terms of the decision to accept new members by the BRICS group of countries consisting of Brazil, Russia, India, China and South Africa.

Many countries attended the summit at the level of heads of state and government, to which almost 70 countries from all over the world were invited.

BRICS ENLARGEMENT

The BRICS group of countries, which defends the multipolar global system, constitutes an attractive alternative for Asian, African and Latin American countries in the face of the current system centered on the West.

So far, 22 countries have submitted official applications for BRICS membership. Several countries have also unofficially shown interest in BRICS membership.

In the first two days of the summit in Johannesburg, the leaders of the BRICS countries discussed current applications and membership criteria and decided to invite six countries: Argentina, the United Arab Emirates, Ethiopia, Iran, Egypt and Saudi Arabia.

The number of BRICS members will increase to 11 from next year, with new members joining the community from January 1, 2024.

TRADE WITH LOCAL CURRENCIES VERY LOW AGAINST THE COMMON CURRENCY

Another important item on the agenda of the summit was the common currency of the BRICS. Although the idea of ​​a common currency, proposed by China, which wanted to break the hegemony of the US dollar, was supported by Russia, it was not accepted by countries with a relatively small economy and population, such as South Africa.

Instead, the idea of ​​trading in local currencies prevailed among members. One of the highlights of the summit was the need for a financial system that would allow fast, secure and cheap money in local currencies to flow between members.

HIGH ATTENTION TO THE SUMMIT OF AFRICA

The host country South Africa invited nearly 70 countries, 53 of which were African, to the summit organized under the theme “BRICS and Africa: Accelerated Mutual Growth, Sustainable Development and Partnership for Inclusive Multilateralism.”

The BRICS Plus meeting, which was held on the last day of the summit, attracted high-level participation from around the world, especially from African countries.

Iran, Bangladesh, Bolivia, Cuba, Indonesia, Senegal, Zambia, Burundi, Comoros, Republic of the Congo, Djibouti, Namibia, Libya and Chad attended the meeting at the level of heads of state and government, while many countries were represented at the meeting. by their foreign ministers.

The Secretary General of the United Nations, Antonio Guterres, was among the names that attended the summit.

At the closing program of the summit, Chinese President Xi Jinping and South African President Cyril Ramaphosa met with the leaders of Senegal, Zambia, Burundi, Comoros, Republic of the Congo, Djibouti, Namibia, Libya and Chad in a round table.

BRICS SUMMIT

The BRICS group of countries, which represents more than 40 percent of the world’s population and more than 30 percent of the global product, is an international forum where the leaders of the member countries meet at summits held each year and discuss global themes. and mutual cooperation.

The BRICS group, which holds regular meetings at the ministerial level every year, stands out as an important platform for the development of economic, political and cultural cooperation among member countries.

On the other hand, the decisions of the BRICS are not binding on the member states. For now, the Community follows a path based on economic cooperation.

However, the BRICS community, which has expanded by recruiting members from a very wide geography, is expected to come to the fore as a stronger player in the global system in the future. (AA)