The BRICS bloc, powered by Russia, is making significant strides in 2024, spearheading BRICS Expansion with the inclusion of five new full members.
President Vladimir Putin announced the induction of Egypt, Ethiopia, Iran, Saudi Arabia, and the United Arab Emirates, marking a powerful shift in the association’s standing in international affairs.
Growing Authority and Support
Putin emphasized the growing authority of BRICS, stating that the inclusion of new members signals the association’s increasing influence in the ongoing BRICS Expansion.
He highlighted the principles shared by member nations, such as sovereign equality, openness, consensus, and a commitment to forming a fair global financial and trading system.
Rapid Expansion and Future Prospects
With the recent additions, BRICS now stands as a 10-nation body, showcasing its appeal to countries sharing its principles in the midst of BRICS Expansion.
Putin mentioned that approximately 30 more countries are prepared to join the multi-dimensional agenda of BRICS, prompting discussions on a new category of BRICS partner countries.
Russian Presidency Priorities
Under Russia’s 2024 BRICS chairmanship, the focus will be on strengthening the role of BRICS in the international monetary system.
Putin outlined key areas of concentration, including expanding inter-bank cooperation and increasing the use of national currencies in mutual trade, aligning with the theme of BRICS Expansion.
Towards Equitable Global Development
Putin’s vision for the Russian presidency revolves around strengthening multi-lateralism for equitable global development and security during this era of BRICS Expansion.
The priorities include enhancing foreign policy coordination among member countries, addressing challenges to international and regional security, and fostering cooperation in science, technology, healthcare, environmental protection, culture, and sports.
Roadmap for Collaboration
Putin affirmed Russia’s commitment to promoting all aspects of BRICS partnership in politics and security, economy and finance, and cultural and humanitarian contacts amid the ongoing BRICS Expansion.
Over 200 events across various levels and types are planned, culminating in the BRICS Summit in Kazan in October.
Strategic Economic Goals
The Russian presidency will actively contribute to the practical implementation of the strategy for BRICS economic partnership 2025 and the action plan for innovation cooperation 2021-2024, with a specific focus on ensuring energy and food security within the context of BRICS Expansion.
In a rapidly changing global landscape, BRICS is positioning itself as a formidable force for positive and constructive cooperation, embracing new members, and pursuing a vision of a fair and sustainable global financial system amid the ongoing BRICS Expansion.
Supporting article: https://www.rediff.com/news/report/brics-doubles-in-size-with-5-new-members-putin-hints-at-further-expansion/20240103.htm
