Agenda of BRICS Summit: situation in hot spots and financial system reform
The Russian Foreign Ministry named the topics that will be included in the final declaration based on the results of all scheduled meetings
From 22 to 24 October, Kazan will host the 16th BRICS Summit under the chairmanship of Russia. For the first time in history, it will be held in an expanded format including 10 countries. Official representative of the Russian Foreign Ministry Maria Zakharova spoke in detail about the programme and agenda of this large-scale event. Read more details in a report of Realnoe Vremya.
Key discussion topics
“The agenda of the meetings of the heads of state of the association is very busy,” Zakharova explained. The leaders will discuss current issues of both global and regional nature, the results of cooperation within the BRICS partnership, as well as political, economic, cultural and humanitarian issues. In addition, the results in the field of security will be summed up. The main agreements of the summit will be reflected in the final declaration, which will also record the agreed approaches of the participating countries on important international and regional issues, as well as the further development of BRICS.
A significant topic will be the creation of a new category of partner states of the association.
“On 24 October, a summit meeting in the BRICS+/Outreach format was scheduled with the participation of delegations from more than 30 countries, including those chairing regional cooperation mechanisms, as well as heads of executive structures of international organisations,” Zakharova recalled.
The main topic: “BRICS and the Global South: Joint Construction of a Better World”. The discussion will focus on current issues of interaction between the states of the global majority and increasing their role in shaping decisions on the international agenda. It is also planned to consider the situation in hot spots, with a special emphasis on the Middle East. This will include issues of sustainable development, food and energy security.
The participating countries will discuss the prospects of the new payment system
Special attention will be paid to the issues of reforming the international financial system, strengthening the role of the BRICS countries, developing interbank cooperation and expanding mutual settlements in national currencies.
Experts interviewed by Realnoe Vremya believe that the new BRICS payment system will help reduce dependence on the dollar. Currently, the share of national currencies in the settlements of the countries of the association reaches 65%. A complete rejection of the dollar will most likely lead to new sanctions from the United States. “But this does not mean that we should sit idly by," says economist Nikita Krichevsky proposing the introduction of a non-cash supranational currency.
Ahead of the summit
Zakharova also reported that the annual meeting of the BRICS Business Council will be held in Moscow on 17 October, and the Business Forum of the association on 18 October . The latter is “one of the key mechanisms of corporate interaction.” The meeting on 17 October will approve the annual report, which will include proposals and initiatives of the council's working groups. This document will be presented to the heads of BRICS states at the summit in Kazan, Zakharova added.
The business forum of the member states of the association, which is traditionally held before the summit, will become a platform for strengthening ties among representatives of the business community of the countries of the association.
This year, panel discussions will focus on issues of financial and investment cooperation, international trade, logistics connectivity, agribusiness development, strengthening food security and sustainable energy transition. The leaders of the states will speak at the plenary session.