In the picturesque setting of South Africa, the 15th BRICS summit unfolded from August 22nd to 24th, 2023, with India’s stalwart leader, Prime Minister Modi, representing the nation.
Amidst the backdrop of South Africa’s beauty, this summit was a platform for the leaders of Brazil, Russia, India, China, and South Africa to tackle global issues collectively. Prime Minister Modi’s presence emphasised
India’s commitment to enhancing trade, sustainable development, and addressing contemporary challenges, shaping a brighter future for BRICS and the world. This summit marked a significant step in their journey of global cooperation.
Meeting Theme
The 15th BRICS leaders’ meeting took place from August 22 to 24 in Johannesburg, South Africa, with the theme of “BRICS and Africa: Partnership for Mutually Accelerated Growth, Sustainable Development, and Inclusive Multilateralism.”
Participation of Non-BRICS Countries
More than 30 leaders from non-BRICS countries were invited to attend the meeting, emphasising the BRICS nations’ engagement with other global actors.
BRICS Principles
The BRICS countries have a longstanding commitment to principles such as openness, inclusiveness, and win-win cooperation. They have applied these principles to various areas, including economics, politics, science, and technology.
Global Governance
The BRICS countries actively participate in global governance and are staunch supporters of multilateralism.
They developed organisations such as the New Development Bank (NDB) and the Contingency Reserve Arrangement (CRA) to change the international financial system, bolstering developing nations’ voices in organisations such as the International Monetary Fund (IMF) and the World Bank.
Cooperation Mechanisms
The BRICS countries have created various cooperation mechanisms, including the BRICS Vaccine Research and Development Center, the BRICS Agricultural Research Platform, and the BRICS Digital Public Goods Platform, to provide public goods to countries worldwide. They also emphasise their partnership with African countries in multilateral cooperation.
Unity and Expansion
BRICS serves as a platform for emerging countries to unite and strengthen their positions. The concept of “BRICS+” allows more developing countries to engage with the BRICS mechanism. In 2021, the NDB expanded its membership to include Bangladesh, Egypt, the United Arab Emirates, and Uruguay, further expanding its reach and influence.
Sustainable Finance
The BRICS nations are committed to sustainable finance and addressing climate change. The NDB has policies and frameworks in place to support green and low-carbon economic systems.
A significant portion of the NDB’s investments is directed towards sustainable development projects.
Future Vision
The paragraph ends with a quote from President Xi Jinping, emphasising the importance of a comprehensive, close, practical, and inclusive partnership among BRICS nations. It calls for closer cooperation with developed countries under various global frameworks while upholding multilateralism and promoting a shared future for all.
This information provides an overview of the key points discussed in the paragraph regarding the BRICS meeting and the principles and initiatives of the BRICS countries in the realms of global governance, unity, sustainable finance, and future cooperation.
Summary
The 15th BRICS summit in South Africa, with Prime Minister Modi representing India, demonstrated the importance of international cooperation in tackling the world’s most pressing issues. It was a testament to the strength of unity among nations with diverse backgrounds and aspirations, offering hope for
Calling all law aspirants!
Are you exhausted from constantly searching for study materials and question banks? Worry not!
With over 15,000 students already engaged, you definitely don't want to be left out.
Become a member of the most vibrant law aspirants community out there!
It’s FREE! Hurry!
Join our WhatsApp Groups (Click Here) and Telegram Channel (Click Here) today, and receive instant notifications.
