{"id":139762,"date":"2024-10-24T20:43:17","date_gmt":"2024-10-24T15:13:17","guid":{"rendered":"https:\/\/pwonlyias.com\/stage\/?post_type=current-affairs&#038;p=139762"},"modified":"2024-10-25T11:35:06","modified_gmt":"2024-10-25T06:05:06","slug":"brics-summit-2024","status":"publish","type":"current-affairs","link":"https:\/\/pwonlyias.com\/stage\/current-affairs\/brics-summit-2024","title":{"rendered":"BRICS Summit 2024"},"content":{"rendered":"<p><span style=\"font-weight: 400;\">The Prime Minister\u00a0 visited Russia from October 22-23 at the invitation of President Vladimir Putin to attend the<\/span><b> 16th BRICS Summit<\/b><span style=\"font-weight: 400;\"> in Kazan, capital of Tatarstan.<\/span><\/p>\n<h2><strong><span style=\"font-size: 18pt;\">BRICS Summit 2024<\/span><\/strong><\/h2>\n<ul>\n<li><b>Theme of the BRICS Summit 2024:<\/b><span style=\"font-weight: 400;\"> Strengthening Multilateralism for Just Global Development and Security.<\/span><\/li>\n<li><b>Bilateral Meetings: <\/b><span style=\"font-weight: 400;\">PM Modi also took part in bilateral meetings with BRICS leaders and invited dignitaries during the summit<\/span><b>.<\/b><\/li>\n<li><b>Strengthening Relations:<\/b><span style=\"font-weight: 400;\"> The visit was\u00a0 aimed to further strengthen <\/span><b>the Special and Privileged Strategic Partnership between India and Russia.<\/b><\/li>\n<li><b>BRICS Expansion:<\/b><span style=\"font-weight: 400;\"> India welcomes the inclusion of new members, which has enhanced BRICS&#8217; inclusivity and global influence.<\/span><\/li>\n<\/ul>\n<p style=\"text-align: center;\"><span class=\"vc_button\"><a href=\"https:\/\/www.pw.live\/batches\/upsc?utm_source=seo+upsc+batch&#038;utm_medium=seo+upsc&#038;utm_campaign=seo&#038;utm_id=upsc\" target=\"_blank\" rel=\"noopener\">Enroll now for UPSC Online Course<\/a><\/span><\/p>\n<h2><span style=\"font-size: 18pt;\"><b>Key Highlights of the BRICS Summit 2024 in Kazan<\/b><\/span><\/h2>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>BRICS Solidarity:<\/b><span style=\"font-weight: 400;\"> Reaffirmation of strategic cooperation based on<\/span><b> mutual respect, inclusiveness, and consensus.<\/b><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Global Governance:<\/b><span style=\"font-weight: 400;\"> Commitment to a fairer, multipolar world order,<\/span><b> advocating UN reform<\/b><span style=\"font-weight: 400;\">, and greater inclusion of developing nations in decision-making.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Sustainable Development:<\/b><span style=\"font-weight: 400;\"> Support for the <\/span><b>2030 Agenda<\/b><span style=\"font-weight: 400;\">, climate resilience, biodiversity conservation, and human rights.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Outreach: <\/b><span style=\"font-weight: 400;\">Engagement with the<\/span><b> Global South <\/b><span style=\"font-weight: 400;\">to foster international cooperation and inclusivity.<\/span><\/li>\n<\/ul>\n<h2><span style=\"font-size: 18pt;\"><b>Concerns Over Unilateral Coercive Measures<\/b><\/span><\/h2>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">The <\/span><b>Kazan Declaration at the BRICS Summit 2024 <\/b><span style=\"font-weight: 400;\">condemned<\/span><b> unilateral coercive measures<\/b><span style=\"font-weight: 400;\">, including illegal sanctions.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">These measures are seen as<\/span><b> disruptive <\/b><span style=\"font-weight: 400;\">to the world economy, global trade, and progress on Sustainable Development Goals (SDGs).<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">They<\/span><b> undermine the UN Charter,<\/b><span style=\"font-weight: 400;\"> multilateral trade systems, and international environmental agreements.<\/span><\/li>\n<\/ul>\n<p style=\"text-align: center;\"><span class=\"vc_button\">Click to know <a href=\"https:\/\/pwonlyias.com\/stage\/brics-summit-2024\/\" target=\"_blank\" rel=\"noopener\">BRICS Summit 2024<\/a><\/span><\/p>\n<h2><span style=\"font-size: 18pt;\"><b>Call for Peaceful Conflict Resolution<\/b><\/span><\/h2>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">The declaration expressed concern over<\/span><b> rising global violence<\/b><span style=\"font-weight: 400;\"> and ongoing<\/span><b> armed conflicts.<\/b><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">It stressed the <\/span><b>importance of diplomacy, inclusive dialogue, and consultations<\/b><span style=\"font-weight: 400;\"> for peaceful dispute resolution.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Emphasis was placed on <\/span><b>conflict prevention<\/b><span style=\"font-weight: 400;\"> by addressing root causes.<\/span><\/li>\n<\/ul>\n<h2><span style=\"font-size: 18pt;\"><b>Palestinian and Lebanese Crises<\/b><\/span><\/h2>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">The declaration voiced<\/span><b> \u201cgrave concern\u201d <\/b><span style=\"font-weight: 400;\">over escalating violence in Gaza, the West Bank, and southern Lebanon.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">It <\/span><b>condemned Israeli military actions<\/b><span style=\"font-weight: 400;\"> that caused mass civilian casualties, displacement, and infrastructure destruction.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">BRICS called for an immediate, permanent ceasefire, release of hostages, and <\/span><b>unhindered humanitarian aid to Gaza.<\/b><\/li>\n<\/ul>\n<p style=\"text-align: center;\"><span class=\"vc_button\"><a href=\"https:\/\/store.pw.live\/govt-entrance-exams\/upsc-books?utm_source=SEO&#038;utm_medium=PW+Live&#038;utm_campaign=UPSC+CSE+Books\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">Check Out UPSC CSE Books From PW Store<\/span><\/a><\/span><\/p>\n<h2><span style=\"font-size: 18pt;\"><b>Strong Stance Against Terrorism<\/b><\/span><\/h2>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">BRICS condemned<\/span><b> all forms of terrorism<\/b><span style=\"font-weight: 400;\">, calling it a global threat needing a comprehensive, balanced response.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Terrorism was described as<\/span><b> criminal and unjustifiable<\/b><span style=\"font-weight: 400;\">, regardless of motives.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">The declaration called for decisive action against cross-border terrorist movements, financing, and support, stressing the importance of<\/span><b> no double standards <\/b><span style=\"font-weight: 400;\">in addressing terrorism<\/span><\/li>\n<\/ul>\n<h2><span style=\"font-size: 18pt;\"><b>Areas of Cooperation under Kazan Declaration<\/b><\/span><\/h2>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Cybersecurity and Data Governance:<\/b><span style=\"font-weight: 400;\"> It highlighted financial sector cyber resilience through BRICS Rapid Information Security Channel drills, while calling for equitable global frameworks on data governance and digital economy growth.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Trade and Economic Cooperation: <\/b><span style=\"font-weight: 400;\">The declaration stressed the need for secure supply chains, fair agricultural trade, Special Economic Zones, and support for MSMEs, especially in high-tech sectors.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Energy and Climate:<\/b><span style=\"font-weight: 400;\"> It highlighted cooperation in<\/span><b> just energy transitions,<\/b><span style=\"font-weight: 400;\"> sustainable agriculture, and the importance of carbon markets<\/span><b>, rejecting unilateral protectionist measures.<\/b><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Health and Science:<\/b><span style=\"font-weight: 400;\"> The declaration supported<\/span><b> initiatives against AMR, TB, and enhancing nuclear medicine,<\/b><span style=\"font-weight: 400;\"> alongside cooperation in public health, space, and tourism.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Competition and Tax Cooperation:<\/b><span style=\"font-weight: 400;\"> It advanced BRICS competition law, mutual customs recognition, and enhanced tax cooperation frameworks.<\/span><\/li>\n<\/ul>\n<h2><span style=\"font-size: 18pt;\"><b>What is BRICS?<\/b><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">BRICS is an acronym representing five of the world\u2019s leading emerging economies: <\/span><b>Brazil, Russia, India, China, and South Africa.\u00a0<\/b><\/p>\n<ul>\n<li><span style=\"font-weight: 400;\">The term BRIC was first coined by British economist Jim O\u2019Neill in 2001 to describe the economies of<\/span><b> Brazil, Russia, India, and China.<\/b><\/li>\n<li><span style=\"font-weight: 400;\">The grouping was formalised at the<\/span><b> 2006 BRIC Foreign Ministers&#8217; meeting,<\/b><span style=\"font-weight: 400;\"> and in<\/span><b> 2010,<\/b><span style=\"font-weight: 400;\"> South Africa joined, expanding the acronym to<\/span><b> BRICS.<\/b><\/li>\n<\/ul>\n<h3><span style=\"font-size: 16pt;\"><b>Expansion of BRICS<\/b><\/span><\/h3>\n<ul>\n<li><span style=\"font-weight: 400;\">The<\/span><b> Johannesburg Declaration (2023) <\/b><span style=\"font-weight: 400;\">invited<\/span><b> Argentina, Egypt, Ethiopia, Iran, Saudi Arabia, and the UAE<\/b><span style=\"font-weight: 400;\"> to become full members from January 2024.<\/span>\n<ul>\n<li><span style=\"font-weight: 400;\">Argentina withdrew in December 2023 after President Javier Milei took office.<\/span><\/li>\n<\/ul>\n<\/li>\n<li><b>Currently BRICS <\/b><span style=\"font-weight: 400;\">has a<\/span><b> total 9 members<\/b> <b>comprising Brazil, Russia, India, China, South Africa, Iran, Egypt, Ethiopia, and the United Arab Emirates.<\/b><\/li>\n<li><span style=\"font-weight: 400;\">With the expanded group, BRICS would represent<\/span><b> 45% of the world\u2019s population<\/b><span style=\"font-weight: 400;\"> and economies worth <\/span><b>$28.5 trillion (28% of global GDP<\/b><span style=\"font-weight: 400;\">).\u00a0<\/span><\/li>\n<li><b>Saudi Arabia<\/b><span style=\"font-weight: 400;\"> has been invited but has yet to formally join.<\/span>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"2\"><span style=\"font-weight: 400;\">If Saudi Arabia joins, BRICS would control<\/span><b> 44% of the world\u2019s crude oil production.<\/b><\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<p style=\"text-align: center;\"><span class=\"vc_button\"><a href=\"https:\/\/www.pw.live\/batches\/upsc\/pw-only-ias?utm_source=seo+upsc+batch&#038;utm_medium=seo+upsc&#038;utm_campaign=seo&#038;utm_id=upsc\" target=\"_blank\" rel=\"noopener\">Enroll now for UPSC Online Classes<\/a><\/span><\/p>\n<h3><span style=\"font-size: 16pt;\"><b>Major Initiatives of BRICS<\/b><\/span><\/h3>\n<ul>\n<li><b>Contingent Reserve Arrangement (CRA):<\/b><span style=\"font-weight: 400;\"> Established in 2015, this framework provides financial support to member countries facing short-term liquidity crises.<\/span><\/li>\n<li><b>New Development Bank (NDB): <\/b><span style=\"font-weight: 400;\">A multilateral development bank designed to mobilise resources for infrastructure and sustainable projects in emerging markets and developing countries.<\/span>\n<ul>\n<li><span style=\"font-weight: 400;\">It is headquartered in <\/span><b>Shanghai<\/b><span style=\"font-weight: 400;\">, with regional offices in South Africa and Brazil. New members include <\/span><b>Bangladesh, UAE, Egypt, and Uruguay.<\/b><\/li>\n<\/ul>\n<\/li>\n<li><b>Medical Cooperation:<\/b><span style=\"font-weight: 400;\"> The<\/span><b> Ufa Declaration<\/b><span style=\"font-weight: 400;\"> promotes collaboration to prevent the spread of infectious diseases.<\/span><\/li>\n<li><b>BRICS Payments Task Force:<\/b><span style=\"font-weight: 400;\"> An initiative for cooperation among central banks and financial institutions to enhance national payment systems.<\/span><\/li>\n<\/ul>\n<div class=\"vc_table_green\"><\/p>\n<table style=\"width: 100.043%;\">\n<tbody>\n<tr>\n<td style=\"width: 130.811%; text-align: center; border-style: solid; border-color: #000000;\" colspan=\"2\"><span style=\"font-size: 18pt;\"><b>Must Read<\/b><\/span><\/td>\n<\/tr>\n<tr>\n<td style=\"width: 50.5357%; text-align: center; border-style: solid; border-color: #000000;\"><a href=\"https:\/\/pwonlyias.com\/stage\/editorial-analysis\/\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">UPSC Daily Editorials<\/span><\/a><\/td>\n<td style=\"width: 80.2753%; 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