The momentous 16th BRICS Summit, attended by the leaders of Brazil, Russia, India, China, and South Africa from October 22 to 24, 2024, in Kazan, Russia. Also joined by new members Egypt, Saudi Arabia, and the UAE. The conclave discussed the burning global issues, developing economic cooperation, and bolstering multilateralism. The Kazan Summit proved a great success for Russian President Vladimir Putin. The Summit concluded on an upbeat note.
Improving India-China Relations
The improvement in relations between India and China was one of the major successes of the Summit, in which both the countries agreed to restore normalcy along their common border through improved patrolling and disengagement agreements. It is one step forward for two countries that have seen their relations become tensed over the years.
Major Takeaways of Kazan Declaration
It ended with the Kazan Declaration, an 43-page document, covering all possible aspects of geopolitics, economic growth, and global governance. The Declaration urged the conflict to be resolved peacefully through dialogue and diplomacy, in respect to the situation in Ukraine and the humanitarian crisis in Palestine and Lebanon. They also referred to the terror attacks in the Gaza Strip and were concerned regarding military operations in southern Lebanon, which they demanded should stop immediately.
- Cooperation between BRICS states in the Economic Area and Financial Innovation
There was discussion on devising a BRICS-based grain exchange system and the possibility of the BRICS Cross-Border Payment System, which could loosen the stranglehold of the US dollar on the BRICS nations.
- Environmental and Health Initiatives
Besides discussing economic and political matters, the Summit also discussed environmental conservation and preparedness against pandemics. India's proposal for International Big Cats Alliance was accepted at the Summit, and BRICS declared their intent to collaborate on endangered species. There was emphasis on collaboration between health systems, especially research on vaccines.
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