Key Takeaways
The BRICS summit in Kazan, Russia, will be a landmark event in international diplomacy.
Leaders from 24 countries and delegations from 32 nations will attend the meeting, marking Russia’s largest foreign policy meeting ever.
The BRICS summit , scheduled from Oct. 22 to 24, will consist of two key segments: sessions exclusive to BRICS members and broader discussions in the BRICS+ format.
The BRICS+ format will involve representatives from Asia, Africa, the Middle East, and Latin America.
The summit will focus on strengthening multilateralism and promoting equitable global development and security. It will be the first after the launch of the new BRICS payment system.
Russia has emphasized its commitment to BRICS, positioning the group as a top foreign policy priority. In 2024 alone, Russia has hosted over 200 events related to BRICS, including more than 20 at the ministerial level.
Russian presidential aide Yury Ushakov highlighted Russia’s role in expanding BRICS, noting that it was one of the founding members.
Ushakov supported the inclusion of interested states as “partner countries” and suggested potential candidates from the Commonwealth of Independent States (CIS) and Indonesia.
BRICS members are also expected to discuss approving a unified digital currency.
The proposed currency, which may be backed by gold reserves, would provide an alternative to the U.S. dollar and allow member nations to break free from their reliance on the greenback.
This, in turn, could give them greater control over their economic independence.
If BRICS manages to develop an alternative system over time, then most countries in the modern world will likely switch to this system, as the current dominance of the dollar is not always acceptable. If we can move away from these issues and consider a system of payments in national currencies, with partial cooperation in national currencies, it would indeed be a revolution,” commented political scientist Andrey Bolshakov.
The BRICS meeting in Kazan will host representatives from the five member countries: Brazil, Russia, India, China, and South Africa.
In addition to the core BRICS members, several other countries, including Argentina, Egypt, Iran, and Saudi Arabia, have expressed interest in joining the summit.
Representatives from Belarus, Bolivia, Cuba, Indonesia, Kazakhstan, Malaysia, Mexico, Mongolia, and Mozambique will also attend.
Additionally, delegates from Namibia, Nicaragua, Oman, Pakistan, Paraguay, the Philippines, Qatar, Serbia, Sri Lanka, Syria, Tanzania, Thailand, Venezuela, and Vietnam are expected to participate in the Kazan meeting.
Six countries were added to the BRICS alliance in December 2023: Argentina, Egypt, Ethiopia, Iran, Saudi Arabia, and the United Arab Emirates. However, Argentina’s and Saudi Arabia’s membership remains uncertain.
After the December meeting, President Javier Milei announced Argentina’s withdrawal. Saudi Arabia, on the other hand, has yet to ratify its membership.
While there may be speculation about other countries considering joining BRICS, no concrete information is publicly available at this time.
Joining BRICS involves a formal application and a consensus among current members.
Any new additions would likely be carefully evaluated based on various factors, including economic strength, geopolitical alignment, and contributions to the group’s goals.