BRICS unveils partner status showcasing global economic Unity
The BRICS instead of adding new members straightway, in its Summit has adopted a criteria for first giving a partner status.
The 16th BRICS Summit, one of the World’s most significant international events in 2024, has concluded in Kazan in the Volga region of Russia.
A key decision made during the summit was the approval of a new category for partner countries. It is anticipated that 13 countries, including Belarus, will join the group with partner status.
Among the economic innovations discussed, the forum also addressed the need for a new payment system in light of the ongoing de-dollarization process.
Additionally, the summit covered regional conflicts, including events in the Middle East and the Ukraine crisis. Several leaders noted the UN’s inability to resolve current conflicts, such as the one between Palestine and Israel. President Putin called for the UN organization’s structure to be adapted “to the reality of the 21st century.”
Meanwhile, the UN itself believes that BRICS could play a role in strengthening international security.
The BRICS countries have agreed to invite 13 countries, namely, Algeria, Belarus, Bolivia, Cuba, Indonesia, Kazakhstan, Malaysia, Nigeria, Thailand, Turkey, Uganda, Uzbekistan and Vietnam.
The Russian presidency is now holding consultations with these invited countries to formalize their membership. Venezuela was not invited due to Brazil’s veto. The Principles and Criteria to give membership have been approved after detailed discussions.
The list of new members will be announced (in addition to existing 10 ….Brazil, Russia, India, China, Eithopea, Egypt, Iran, Saudi Arabia and UAE). Leaders from 36 countries had attended the akazan Summit.
Even UN Secretary General Antonio Guterres attended the meet (this got criticized by Zelensky as Guterres had skipped the so called Global Peace Meet on Ukraine Conflict in Switzerland.
More than 30 countries have expressed their desire to collaborate with BRICS Grouping.
According to UN spokesperson Farhan Haque, ‘the secretary-general will reiterate his well-known stance on the war in Ukraine and the conditions for a fair and just peace based on the UN Charter, international law, and UN resolutions.
Haque pointed out that Guterres is attending the BRICS summit in Kazan “just as he did in South Africa, as this is standard practice for attending meetings of organizations such as the G7 and G20, which include many important states.”
Mubarak Al-Ati, a Saudi political analyst, said that at the summit, Putin successfully brought together 35 countries, showcasing the effectiveness of Russian diplomacy despite Western sanctions.
He believes the summit reaffirms the economic and political interests that link Russia with the international community.
The Kazan summit was attended by leaders from countries representing nearly half of global Gross Domestic Product (GDP), effectively dispelling the myth of Russia’s isolation.
This development has significantly irritated the West, which is likely to respond.The main outcome of the summit was the adoption of the list of partner states.
Gradually, partner states will come to understand how BRICS operates. This also facilitates smoother integration without compromising efficiency.
Moreover, some countries may prefer not to assume obligations regarding all BRICS components, making partner status more appealing to them.
Additionally, participants discussed the development of a new global financial and payment system.
The Russian Finance Ministry has already announced the launch of the BRICS Bridge platform for transactions in national currencies, including digital ones.
