Big BRICS Summit to Be Held in Kazan, Powering Development in the "Global South"

Xia Men, China--(Newsfile Corp. - October 24, 2024) - From October 22 to 24, the 16th BRICS Summit will be held in Kazan, Russia, marking the first in-person gathering of BRICS leaders since the historic expansion of the "BRICS family," which has attracted significant international attention. At last year's BRICS Summit, President Xi Jinping highlighted, "BRICS cooperation is at a vital junction of inheriting the past and ushering in the future. The expansion of the 'Big BRICS' has increased its global weight, signaling a new historical beginning for BRICS cooperation."

From the Middle East to Africa, from Asia to Latin America, the expansion of BRICS is a natural result of the trend towards globalization and the promotion of win-win cooperation. Following the expansion, the "Big BRICS" countries now cover nearly half of the world's population, showing enhanced strength and wider representation. As the leading group of the "Global South," the "Big BRICS" not only has the scale advantage but also represents the resource and growth advantages of emerging market countries. Currently, its combined economic output, calculated by purchasing power parity, has already exceeded that of the Group of Seven (G7), contributing over 50% to global economic growth. As the driving force of the "Global South" and a pivotal engine for global economic recovery, the influence of and the attention to the "Big BRICS" are naturally increasing day by day.

Local Time, October 21, 2024, Kazan, Russia: Ongoing Preparations for the BRICS Summit (Visual China)

The BRICS mechanism serves as a prominent voice for the "Global South," gradually attracting more and more developing countries with its distinctive appeal. Among numerous international organizations, the enthusiasm for joining "Big BRICS" is notably high, underscoring the widespread recognition of this crucial mechanism for solidarity and mutual assistance among developing countries. Recent public opinion polls indicate that the majority of citizens in developing countries view being part of BRICS as beneficial for promoting economic development, enhancing trade levels, attracting more investment, reducing dependence on the US dollar, and elevating their nations' international standing. These benefits fit well with the common, reasonable, and urgent needs of "Global South" countries. The continuous expansion of the BRICS family shows that its principles of openness, inclusiveness, and win-win cooperation have been actively implemented rather than remaining mere rhetoric.

In an increasingly fragmented world, the charm of "Big BRICS" lies in its ability to show the "Global South" the strength that comes from unity and cooperation, while offering hope for catching up and moving forward together. Over 18 years of development have proven that the BRICS mechanism functions as a "doer" rather than a "talk shop," consistently fostering concrete progress through pragmatic cooperation. The New Development Bank HD, a flagship project of BRICS cooperation, stands tall in Shanghai's Pudong area, providing much-needed financial support to member countries. Plus, China, in collaboration with other BRICS countries, has set up or launched the China-BRICS AI Development and Cooperation Center and the China-BRICS New Era Science and Technology Innovation Incubation Park. So the BRICS cooperation mechanism has created an important platform for optimizing resource allocation and sharing development opportunities among member countries. It is also expanding into cutting-edge fields such as green development, aerospace, and biotechnology. All these tangible accomplishments from BRICS, along with their structured and systematic cooperation, are encouraging more countries in the "Global South" to recognize that "Big BRICS" represents a fast track to development that they should not hesitate to embrace.

The "Big BRICS" express train not only embodies the developmental hopes of the "Global South" but also stands as a cornerstone for promoting and safeguarding authentic multilateralism. Born out of the rising tide of emerging markets and developing countries, BRICS, as the leading group of the "Global South," has consistently contributed to promoting a more equitable and orderly multipolar world and an inclusive and beneficial globalization. Unlike some Western countries that form ideological "alliances," the BRICS cooperation mechanism includes diverse political systems and economic development models. Within BRICS cooperation, openness and inclusiveness are fundamental principles, win-win cooperation is the underlying theme, and fairness and justice are the goals. The BRICS mechanism maintains its stance of "not starting from scratch, not engaging in bloc confrontation, and not seeking to replace anyone," and it never pressures participating countries to take sides.

Since the expansion of BRICS, the international community's enthusiasm for "Big BRICS" has continued to rise, kicking off what many see as the inaugural year of "Big BRICS Cooperation." As this cooperative endeavour stands at the threshold of this new historical starting point, poised for "Big BRICS Cooperation," the group anticipates the Kazan Summit will chart a new course for unity, development, and collective empowerment for the "Global South."

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