BRICS 2024: Advancing Economic Growth, Technological Cooperation, and Multilateralism for Global Development

February 8, 2024

In the bustling city of Moscow, the BRICS bloc enters a new chapter, welcoming five new members: Saudi Arabia, Egypt, Ethiopia, Iran, and the United Arab Emirates. They embark on this journey, focused on key areas to ensure a cohesive and impactful collaboration.

Seamless Integration of New Members: As the BRICS family expands, it’s crucial to assist the new members in navigating the complexities of their collaboration. Offering support to their ministries, sharing experiences, and incorporating them into existing tracks and mechanisms will foster a harmonious integration process.

Strengthening Economic Ties: The economic synergy among BRICS nations is paramount. Leveraging the BRICS Bank for strategic financial initiatives can drive sustainable growth. Emphasizing local currency transactions aligns with the goal of reducing dependence on the prevailing dollar-dominated global economic system.

Technological Advancements and AI Cooperation: In a world driven by technology, BRICS must remain at the forefront of innovation. Collaboration in artificial intelligence, as exemplified by Russia’s AI ethics code, presents an opportunity for collective progress. Keeping pace with technological developments ensures a significant impact on global economic and security landscapes.

Multilateralism for Global Development and Security: Under the theme of Russia’s chairship, the BRICS nations commit to fostering multilateralism. Active participation in international forums, including the UN, WTO, and G20, enables BRICS to advocate for a fair and inclusive global order. This collective effort contributes to just global development and security.

As we delve into BRICS 2024, they will navigate the integration of new members, strengthen economic ties, embrace technological advancements, and champion multilateralism. Together, they will shape a future marked by growth, collaboration, and a more inclusive global landscape.