The leaders of the BRICS countries met in Johannesburg, South Africa on August 22-24, 2023 to discuss ways to strengthen cooperation and expand membership. The BRICS countries are Brazil, Russia, India, China, and South Africa. They account for 40% of the world’s population and 25% of the global economy. The summit was hosted by South Africa, which is the current chair of BRICS. The South African President, Cyril Ramaphosa, said that the summit was an opportunity to “strengthen our cooperation and partnership and to address the challenges facing the world today.” The Chinese President, Xi Jinping, called for strengthening BRICS cooperation in areas such as trade, investment, finance, and technology. He also said that BRICS should play a more active role in global governance. The Russian President, Vladimir Putin, also called for strengthening BRICS cooperation. He said that BRICS countries should “work together to build a more just and equitable world order.” The Indian Prime Minister, Narendra Modi, said that India is committed to expanding BRICS membership. He said that BRICS should be open to all countries that share its values and goals. The Brazilian president, Luiz Inácio Lula da Silva, also expressed support for expanding BRICS membership. He said that BRICS should be a “forum for all countries that want to work together for a better future.”
The BRICS summit ended with a joint statement in which the leaders agreed to strengthen cooperation in a number of areas, including trade, investment, finance, and technology. They also agreed to work together to address global challenges such as climate change and poverty. In addition, the BRICS organization of developing countries, which is expanding for the first time in more than ten years, has extended an invitation to oil powers Saudi Arabia and the United Arab Emirates. While concluding the group’s annual conference in Johannesburg, the President of South Africa, Cyril Ramaphosa, announced that Iran, Egypt, Ethiopia, and Argentina will all join the following year. All the invited nations had already expressed a desire to take part. The BRICS summit highlighted the growing importance of the BRICS countries in the global economy. The leaders of the BRICS countries agreed to strengthen cooperation in a number of areas and to work together to address global challenges. The BRICS countries are poised to play an increasingly important role in global governance in the years to come.
Research Associate, Pakistan House