The theme of the 16th BRICS Summit, held in Kazan, Russia, has been the strengthening of economic collaboration in fostering a multipolar world order. The three-day event, which started on October 22 and ended on the 24th, saw the participation of leaders from Brazil, Russia, India, China, and South Africa, along with representatives from 32 other countries. The discussions revolved around economic partnerships, developing a single digital currency to replace the US dollar, and an expanded BRICS that would include countries like Indonesia and others from the Commonwealth of Independent States (CIS)
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Apart from the establishment of a BRICS investment platform that will quicken economic development across the Global South, the summit took up, among others, the role of the group in ensuring just global development. The Russian President, Vladimir Putin, stressed the importance of these partnerships and growth of the group economy. Second, the Kazan Declaration was one of the key documents adopted at the end of the summit and it spelled out the financial cooperation of the group and a place of BRICS in international diplomacy.
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Energy cooperation was further placed on the agenda of discussions at the summit, where Iran presented its initiative on a new energy transit network. The event also reflected Russia’s current presidency of BRICS, which it sought to further establish as a key pillar in its foreign policy approach
