BRICS grows, adding 13 new ‘partner countries’ at historic summit in Kazan, Russia

BRICS held a summit in Kazan, Russia in October 2024, where it expanded with 13 “partner nations”, after adding four new members. These are the most important takeaways from the historic meeting.

By Geopolitical Economy

The Global South-led organization BRICS is growing. More and more countries support the group’s mission: to build a multipolar world, with alternative economic institutions that are more representative and democratic, not dominated by the Western powers.

BRICS held a summit in Kazan, Russia in October 2024, where 13 new “partner nations” were accepted.

At this historic meeting, China’s President Xi Jinping referred to BRICS as “a vanguard for advancing global governance reform” and “reform of the international financial architecture”.

Bolivia’s left-wing President Luis Arce argued that “the shield of BRICS and multipolarity” can protect formerly colonized nations, helping them resist “Western unipolarity and the tyranny of the dollar”.

The organization was first formed as BRIC in 2009, by Brazil, Russia, India, and China. South Africa subsequently joined in 2010, turning the group into BRICS.

At the 2023 BRICS summit in Johannesburg, South Africa, several more members were invited to join.

As of October 2024, BRICS has nine members and 13 partner countries:

• 5 original members:
  • Brazil, Russia, India, China, South Africa
• 4 new members (invited in August 2023; officially admitted in January 2024):
  • Egypt, Ethiopia, Iran, United Arab Emirates
• 13 partner countries (accepted in October 2024):
  • Algeria, Belarus, Bolivia, Cuba, Indonesia, Kazakhstan, Malaysia, Nigeria, Thailand, Türkiye, Uganda, Uzbekistan, Vietnam

The expansion of BRICS has made the group into even more of a geopolitical and economic powerhouse.

Together, the nine BRICS members comprise more than one-third of world GDP (measured at purchasing power parity). They have well over 40% of the planet’s population, and make up roughly 30% of global oil production.

By contrast, the G7 nations comprise less than 10% of the world population and under 30% of GDP (PPP), and their share of the global economy is shrinking over time, whereas that of BRICS is increasing.

Four new BRICS members (but not Argentina and Saudi Arabia)

More than 30 countries attended the Kazan summit, from 22-24 October. This was the first meeting featuring BRICS’ four new members.

Joining Russian President Vladimir Putin, Chinese President Xi Jinping, Indian Prime Minister Narendra Modi, and South African President Cyril Ramaphosa at the summit were Egyptian President Abdel Fattah el-Sisi, Ethiopian Prime Minister Abiy Ahmed, Iranian President Masoud Pezeshkian, and UAE President Mohamed bin Zayed, as well as UN Secretary-General Antonio Guterres.

At the 2023 Johannesburg summit, six countries had been invited to join, but two did not: Argentina and Saudi Arabia.

At the time, Argentina had a center-left government, led by President Alberto Fernández and Vice President Cristina Fernández de Kirchner. They had enthusiastically accepted the offer to join BRICS in August 2023.

The invitees were not officially accepted as members until January 2024, however, and far-right President Javier Milei took office in December 2023. He immediately cancelled Argentina’s plans to join BRICS and condemned the organization, stating, “Our geopolitical alignment is with the United States and Israel. We are not going to align ourselves with communists”.

Unlike Argentina, Saudi Arabia has been ambiguous in its position. Riyadh has not officially accepted the invitation, but it has not rejected the offer either. The kingdom’s de facto leader, Crown Prince Mohammed bin Salman (known as MbS) did not attend the Kazan summit. Saudi Foreign Minister Faisal bin Farhan attended instead.

China and India resolve border dispute

The highlight of the Kazan summit was the discussion of plans to transform the international monetary and financial system, based on a report published by the central bank and finance ministry and Russia, in its capacity as BRICS chair in 2024.

One of the most important developments at the meeting, however, happened before the summit officially began.

In Kazan, China and India signed a historic agreement, settling a four-year border dispute.

On the sidelines of the BRICS summit, President Xi and Prime Minister Modi also held their first bilateral meeting in five years.

BRICS Kazan declaration

The BRICS members signed a lengthy joint statement on 23 October. The Kazan Declaration called for “the promotion of peace, a more representative, fairer international order, a reinvigorated and reformed multilateral system, sustainable development and inclusive growth”.

BRICS seeks “a more equitable, just, democratic and balanced multipolar world order”, according to the statement, which posited, “Multipolarity can expand opportunities for EMDCs [emerging markets and developing countries] to unlock their constructive potential and enjoy universally beneficial, inclusive and equitable economic globalization and cooperation”.

Full version:  https://geopoliticaleconomy.com/2024/10/26/brics-13-partner-countries-summit-kazan-russia/

On Youtube:  https://www.youtube.com/watch?v=wUdlzmk73Ns