BRICS spearheads Global South cooperation as leaders meet in Kazan

Chinese President Xi Jinping will attend the 16th BRICS Summit on Oct. 22-24 in the Russian city of Kazan at the invitation of Russian President Vladimir Putin.

BRICS is an acronym for Brazil, Russia, India, China, and South Africa, five major emerging markets with considerable economic potential. It has now evolved into an influential international cooperation mechanism with an expanded membership.

Over the past 18 years, China has upheld the BRICS spirit of openness, inclusiveness, and win-win cooperation and helped drive the BRICS cooperation mechanism to a new level, serving as a constructive force for safeguarding world peace, promoting common development, improving global governance and

facilitating democratization of international relations.

This year marks the beginning of greater BRICS cooperation. During the upcoming summit, the first such gathering to be held after the BRICS expansion, Xi and leaders of other BRICS countries are expected to draw a blueprint for the development of its mechanism, inject new impetus into a multipolar world, facilitate economic globalization and democratization of international relations, and open up a new chapter for the solidarity and development of the Global South.

NEW STARTING POINT

"BRICS is an important force in shaping the international landscape. We choose our development paths independently, jointly defend our right to development, and march in tandem toward modernization. This represents the direction of the advancement of human society, and will profoundly impact the development process of the world," said Xi during the 15th BRICS Summit in August 2023.

Other than the countries that officially joined the BRICS family on Jan. 1, 2024, over 30 countries like Thailand, Malaysia, Türkiye and Azerbaijan have either formally applied for or expressed interest in its membership.

After the expansion, the BRICS countries account for about 30 percent of the global GDP, nearly half of the global population and one-fifth of global trade.

China has been committed to deepening mutually beneficial cooperation with its BRICS partners. In the first quarter of this year, China's imports and exports to BRICS countries increased by more than 11 percent year on year.

Ahmed Al-Ali, a researcher based in Dubai, the United Arab Emirates (UAE), said that the BRICS has become an important engine to drive global economic recovery and maintain world peace and stability thanks to its steady economic growth, and equal and extensive cooperation opportunities.

"Ethiopia's BRICS membership could significantly boost the country's socio-economic development through various economic opportunities, including increased investment, expanded South-South cooperation and trade partnerships," said Balew Demissie, a researcher at the Policy Studies Institute of Ethiopia.

China's cooperation with other BRICS members has strongly defended multilateralism and promoted the democratization of international relations, said Evandro Carvalho, a Brazilian professor at the Getulio Vargas Foundation, an economic think tank.

(Xinhua)