The BRICS nations are on a growth trajectory, embracing new members to amplify their influence on the global stage. At the recent BRICS Foreign Ministers' Meeting in Nizhny Novgorod, Russia, from June 10 to 11, discussions centered on enhancing cooperation and addressing key international issues.
With a combined presence covering 30% of the Earth's landmass, 45% of its population, and contributing 33% to global GDP, BRICS is emerging as a pivotal force in today's decentralized global landscape. The inclusion of Egypt, Iran, the UAE, Saudi Arabia, and Ethiopia highlights BRICS's commitment to inclusivity and diverse economic and political systems.
BRICS's economic might surpasses that of the G7 countries, underpinned by resilient growth as reported by the International Monetary Fund. Initiatives like the New Development Bank (NDB) demonstrate BRICS's dedication to sustainable development and infrastructure investment, reinforcing its role in global governance.
A key feature of BRICS cooperation is its focus on South-South collaboration, creating opportunities for shared growth among developing nations. The upcoming NDB seminar in Egypt marks a significant step in extending BRICS's cooperative benefits beyond its founding members.
Amid global challenges such as climate change and geopolitical tensions, BRICS offers a platform for creating a more inclusive and equitable world order. Russian Foreign Minister Sergey Lavrov emphasized that BRICS remains open to dialogue and collaboration, advocating for a balanced distribution of power through multipolarity.
The agenda at the Nizhny Novgorod meeting highlighted BRICS's proactive approach to global issues, including conflict resolution and enhancing the role of developing countries in international governance. Leaders like Lavrov and Chinese Foreign Minister Wang Yi expressed optimism about the group's growth and its collaborative efforts with organizations like the Shanghai Cooperation Organization (SCO).
Reference(s):
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