Image Source: Agencies

The leaders of five major emerging economies – Brazil, Russia, India, China and South Africa – gathered for the 15th BRICS summit in Johannesburg, South Africa. The summit, which takes place from August 22 to 24, will be an important forum for these different economies to hold discussions and create strategies that address both local challenges and global issues.

Amidst the complexity of today's world, these countries are united by their common goals of promoting cooperation, fostering economic growth and promoting global stability.

The theme of this year's summit, "BRICS and Africa: Partnership for Mutually Accelerated Growth, Sustainable Development and Inclusive Multilateralism," reflects efforts to strengthen ties between the BRICS countries and the African continent. As the BRICS countries discuss strategies for mutual growth and development, their focus on inclusive multilateralism underscores their commitment to a more just world order.

The leaders of four of the five BRICS countries participated in the summit, and Russian President Vladimir Putin decided to present at the event virtually. Chinese President Xi Jinping, who arrived in South Africa before a state visit, decided not to attend the decision-making meeting. The decision raised eyebrows and highlighted the ongoing dynamics of the BRICS group.

The BRICS summit also discussed the group's expansion, with more than 20 countries expressing interest in joining. This expansion would elevate this platform and potentially increase its influence in global affairs. However, the decision to accept new members will be carefully considered, taking into account the various interests and positions of the current BRICS countries.

At the summit, the heads of state discussed various topics such as economic cooperation, climate action and global governance. Prime Minister Modi emphasized the importance of innovation and technology to promote sustainable development. He also expressed India's support for the expansion of the BRICS countries based on consensus and emphasized the need for future-ready societies to achieve future-proof cooperation.

Russian President Vladimir Putin's virtual presence at the summit was marked by his criticism of the "Western-initiated war" in Ukraine. Putin's remarks underscored ongoing geopolitical tensions and underscored the complex global landscape of the BRICS countries.

The BRICS countries also welcomed the special importance of the countries of the Global South to raise their voices and concerns on the international stage. They discussed promoting the use of local currencies in trade and investment flows, emphasizing the acceleration of economic progress in developing countries.

As the summit progressed, leaders recognized the important role of the BRICS New Development Bank in supporting development initiatives in the Global South. Founded in 2015, the bank aims to provide an alternative source of financing for infrastructure projects, enabling member states to respond to urgent development challenges. The 2023 BRICS Summit demonstrated the continued efforts of these emerging economies to work together to address global challenges. The theme of the summit, partnership with Africa and discussions on enlargement, emphasized the commitment of the BRICS countries to build a more inclusive and just world. Although challenges remain, the BRICS countries continue to strive for progress, innovation and mutual growth as they navigate the complex dynamics of our times.