Editor’s note: This article provides insight into the growing appeal of BRICS and highlights Chinese President Xi Jinping’s recent address at the BRICS summit in Kazan, Russia.
BRICS Gains Momentum Amid Global Challenges
As the world grapples with geopolitical tensions, financial instability, and climate change, the BRICS coalition—comprising Brazil, Russia, India, the Chinese mainland, and South Africa—emerges as a beacon of cooperative progress. On Wednesday, Chinese President Xi Jinping delivered a compelling speech at the BRICS summit in Kazan, Russia, underscoring China’s commitment to leveraging its strengths to enhance collaboration among BRICS nations.
President Xi’s Vision for Inclusive Growth
In a landmark announcement, President Xi revealed the decision to invite additional countries to become partner nations within the BRICS framework. This move signifies a significant step forward in BRICS’ evolution, fostering greater inclusivity and amplifying its global influence.
President Xi emphasized the importance of multi-win cooperation, stating that unity and collaboration are the keys to overcoming the world’s pressing challenges. He highlighted China’s dedication to deepening mutually beneficial relationships with BRICS partners, aiming to optimize resource allocation and unlock new development opportunities.
Strengthening Financial and Technological Collaboration
The New Development Bank (NDB), headquartered in Shanghai, stands as a testament to BRICS’ commitment to sustainable development. By the end of 2023, the NDB has approved 105 projects across member states, amounting to approximately $35 billion. President Xi called for bolstering the NDB’s role and urged BRICS countries to lead in realigning the international financial system to better reflect the evolving global economy.
Technological innovation remains a focal point of BRICS cooperation. Initiatives like the China-BRICS AI Development and Cooperation Center and the China-BRICS Science and Innovation Incubation Park facilitate shared advancements in aerospace, biotechnology, artificial intelligence, and other cutting-edge fields.
Empowering Through Education and Innovation
Since 2023, the BRICS Partnership on New Industrial Revolution Innovation Center in Xiamen has conducted over 10 training courses, engaging more than 100 participants from over 70 countries. Building on this success, President Xi pledged to establish 10 overseas learning centers within BRICS nations, aiming to provide training opportunities for 1,000 education administrators, teachers, and students.
Global Perspectives on BRICS Cooperation
Experts recognize the pivotal role of BRICS in enhancing the representation and influence of developing countries on the international stage. Ahmed Al-Ali, a political and strategic researcher at the Gulf Research Center in Dubai, noted, “The BRICS cooperation mechanism plays a prominent role in enhancing the representation and influence of the developing countries in international affairs and enhancing the improvement of global governance, which is also one of the priorities of the UAE.”
Forging Ahead Towards a Multipolar World
President Xi’s address at the BRICS summit not only charted a roadmap for the mechanism’s future development but also injected new momentum into the pursuit of a multipolar world. By strengthening solidarity within the Global South and facilitating cooperation among nations of all sizes, BRICS continues to play a crucial role in shaping a more equitable and interconnected global landscape.
Reference(s):
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