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BRICS Summit 2024, Venue, Theme, Kazan Declaration

PWOnlyIAS October 24, 2024 12:46 1606 0

The BRICS Summit 2024 is being held in Kazan from October 22-24, providing a platform for leaders to discuss a wide range of topics under Russia's chairmanship.

BRICS Summit 2024, Venue, Theme, Kazan Declaration

The 16th BRICS Summit 2024 is being held between October 22 and 24, 2024 in Kazan. It is a crucial event for international diplomacy, particularly for UPSC aspirants preparing for the International Relations section. This summit brings together major emerging economies to discuss global challenges, multilateral cooperation, and development strategies.

One of the major highlights of BRICS Summit 2024 is the adoption of the Kazan Declaration, which emphasizes solidarity among member countries and outlines key areas for cooperation, including sustainable development, reforms in global governance, and enhanced collaboration in trade and health initiatives.

16th BRICS Summit 2024 Overview

The BRICS Summit 2024 marks a key moment for the expansion of BRICS, with five new countries joining the group: Egypt, Ethiopia, Iran, Saudi Arabia, and the United Arab Emirates. Under the theme “Strengthening Multilateralism for Just Global Development and Security,” the summit addresses crucial issues that affect global stability.

 

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Details Description
BRICS Summit 2024 Venue Kazan, Republic of Tatarstan, Russia
BRICS Summit 2024 Date 22–24 October 2024
BRICS headquarters No headquarters, (New Development Bank headquarters- Shanghai, China)
Motive “Strengthening Multilateralism for Just Global Development and Security”
New Members Egypt, Iran, UAE, Saudi Arabia, Ethiopia

What is BRICS?

BRICS stands for Brazil, Russia, India, China, and South Africa, a group of emerging economies formed to promote economic cooperation and multilateralism. The group represents around 45% of the world’s population and accounts for a third of global GDP, making it a key player in global governance.

  • BRICS Full Form: Brazil, Russia, India, China, South Africa
  • BRICS Headquarters: Shanghai, China (New Development Bank)
  • BRICS Members List (Current): Brazil, Russia, India, China, South Africa
  • New Members (2024): Egypt, Iran, United Arab Emirates, Saudi Arabia, Ethiopia (starting in 2024)

Click to Know More About BRICS

BRICS Summit 2024 Theme

The BRICS Summit 2024 theme is “Strengthening Multilateralism for Just Global Development and Security.” This theme emphasizes the need for collaborative global efforts to ensure fair and sustainable economic growth while promoting global peace and security. By focusing on multilateralism, BRICS seeks to reinforce its role in shaping a more balanced and secure global order.

Kazan Declaration 2024

The 16th BRICS Summit in Kazan, Russia, is noted for the adoption of the BRICS Declaration 2024 also known as the Kazan Declaration. This document issued jointly by BRICS nations highlights the bloc’s unified approach to pressing global issues. Here are the key points from the summit:

  1. Strengthening Multilateralism: Leaders committed to enhancing cooperation in political, economic, and cultural areas, advocating for a fairer global order.
  2. Geopolitical Focus: The declaration emphasized peaceful resolutions to conflicts, particularly in Ukraine and Palestine, while expressing concern over humanitarian crises in the Middle East.
  3. Economic Collaboration: BRICS nations agreed to boost trade in local currencies and explore initiatives like a BRICS Grain Exchange and a Cross-Border Payment System.
  4. Financial Architecture Reform: Leaders called for a more responsive global financial system and supported a strong IMF as part of a Global Financial Safety Net.
  5. Innovation in Finance: The summit welcomed new financial practices, including the BRICS Interbank Cooperation Mechanism to facilitate efficient cross-border payments.
  6. Health and Environment: The summit stressed collaboration on health initiatives, particularly in combating antimicrobial resistance, and wildlife conservation through India’s Big Cats Alliance.
  7. BRICS Plus Partnership: Leaders endorsed a new BRICS Partner Country category, welcoming nations like Egypt and Saudi Arabia to enhance collaboration.
  8. Commitment to Sustainable Development: Emphasizing inclusive growth, the leaders pledged to work together on initiatives that promote environmental conservation and pandemic preparedness.

Overall, the Kazan Declaration reaffirms BRICS’s commitment to solidarity and sustainable development for a better future.

Importance of BRICS Summit for UPSC

The BRICS Summit 2024 is essential for UPSC aspirants as it highlights critical topics such as:

  1. Global Economic Cooperation: Focus on improving trade and investment opportunities among BRICS and with the new member countries.
  2. Multilateralism: The theme emphasizes enhancing cooperation for global peace, security, and fair international trade practices.
  3. Development Initiatives: Discussions around sustainable development, technology transfer, and innovation, particularly in healthcare and education.
  4. Currency Discussions: With a push for payments in national currencies, the summit addresses global monetary reforms.

Understanding these topics is crucial for UPSC’s International Relations and Economic Development sections.

BRICS summit 2024 held in which country?

The 16th BRICS Summit 2024 will be held in Kazan, Republic of Tatarstan, Russia, from 22–24 October 2024. This summit marks a significant milestone for BRICS, particularly with the expansion of its membership to include countries like Egypt, Iran, UAE, Saudi Arabia, and Ethiopia. The venue of Kazan is set to host discussions on critical global issues like economic cooperation, energy security, and multilateralism, making it a key event for global diplomacy in 2024.

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BRICS New Members (2024)

The expansion of BRICS with the inclusion of five new members is a significant development. Here are the BRICS New Members (2024):

  • Egypt, Iran, UAE, Saudi Arabia, Ethiopia: Understanding these countries’ geopolitical roles and their relationship with BRICS members.
  • Impact on Global Trade and Diplomacy: How the inclusion of these new members affects global economic policies and power dynamics.

Key Topics to Study for UPSC

By studying the BRICS Summit 2024, aspirants will gain insights into international cooperation, trade policies, and economic governance, which are crucial for various sections of the UPSC. Here are some key topics for UPSC students to study from BRICS Summit 2024:

  1. BRICS New Development Bank (NDB):
    Study the role of the New Development Bank, headquartered in Shanghai, and its contribution to funding infrastructure projects in member countries.
  2. BRICS Contingent Reserve Arrangement (CRA):
    A safety net for member countries during balance of payments crises, the CRA is another important topic in international financial governance.
  3. Energy Cooperation:
    The summit is expected to focus on energy security, a critical issue given the global energy crisis and the role of new members like Saudi Arabia and UAE in the energy market.
  4. Climate Change:
    BRICS is increasingly focused on environmental policies. Aspirants should study the group’s initiatives for sustainable development and green energy.

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FAQs on BRICS Summit 2024

The 16th BRICS Summit 2024 will be held in Kazan, Republic of Tatarstan, Russia, from 22–24 October 2024.

The new BRICS members in 2024 are Egypt, Iran, UAE, Saudi Arabia, and Ethiopia.

The theme for 2024 is "Strengthening Multilateralism for Just Global Development and Security," emphasizing global cooperation for fair economic and security frameworks.

BRICS nations aim to promote trade in national currencies, reducing dependency on the U.S. dollar, which is vital for global economic restructuring.

BRICS influences key areas like international relations, global economic policies, and development strategies, making it an essential topic for UPSC’s GS Paper II (International Relations) and GS Paper III (Economic Development).

The Kazan Declaration was adopted at the 16th BRICS Summit in October 2024, focusing on multilateral cooperation and sustainable development among member nations. It addresses key global issues, including geopolitical conflicts, economic collaboration, and health initiatives.
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