As the world shifts towards a multipolar reality, BRICS has emerged as a crucial platform for nations seeking to shape their own futures and redefine the global order.
Composed of some of the most powerful and dynamic emerging economies, BRICS stands as a beacon of inclusivity, cooperation, and fairness in an increasingly fractured world. The addition of new members to this prestigious group is not merely a formality—it represents a transformative moment in the evolution of global governance.
BRICS is more than a group of nations; it is a vision for a future where the voices of the Global South are heard and respected. With 47% of the global population and 36% of the world’s GDP, BRICS is a force that cannot be ignored. Its growing influence, both politically and economically, draws countries eager to participate in the bloc’s mission to reshape the rules of international engagement.
The Appeal of BRICS
The BRICS vision is centred on promoting dialogue, fostering equitable cooperation, and creating a new world order—one that moves beyond the skewed policies of the past. The traditional institutions, like the IMF and World Bank, have often imposed rigid structures that prioritise the interests of a few at the expense of many. BRICS, by contrast, seeks to build a system where all nations have the opportunity to thrive.
At the heart of this mission is the New Development Bank (NDB), a BRICS initiative designed to offer fair financing to nations that have historically been underserved by Western financial systems. For many countries, joining BRICS represents not just an opportunity for economic growth, but a chance to break free from the financial constraints imposed by institutions that have long favoured the Global North.
Kazan 2024 and the Path Ahead
As BRICS leaders gather in Kazan, Russia, for the 16th BRICS Summit, the world will be watching closely. This summit, taking place from October 22nd to 24th, 2024, is expected to be a defining moment in BRICS history. With new countries officially joining the bloc, the discussions will focus on how best to manage the group’s expansion while remaining true to its core values.
The theme of the summit, “Strengthening Multilateralism for Just Global Development and Security,” speaks directly to the challenges the world faces today. In an era of heightened global tensions, from the conflicts in Palestine and Ukraine to ongoing economic volatility, BRICS offers a platform for nations to come together and discuss equitable solutions to shared problems. As the bloc grows, the leaders must ensure that the founding principles of BRICS—non-alignment, sovereignty, and inclusivity—remain central to its mission.
Political and Security Cooperation: A Shared Commitment
One of the core pillars of BRICS is political and security cooperation. For countries that join BRICS, this pillar represents an opportunity to engage in global dialogues that prioritise peace, stability, and mutual respect. Unlike other global bodies, where power dynamics often stifle smaller voices, BRICS offers equal footing to all members. This equality in decision-making allows BRICS nations to present a united front on the global stage, promoting principles of non-interference and sovereignty.
In an increasingly polarised world, BRICS’ commitment to multilateralism and peaceful coexistence sets it apart. The bloc’s support for non-alignment ensures that no nation is forced into choosing sides in global conflicts. Instead, BRICS encourages dialogue and diplomatic solutions, offering a model for how global governance can function in a more just and balanced way.
Economic Cooperation: A Path to Prosperity
For many countries, the primary appeal of BRICS lies in the economic opportunities it offers. As a member of BRICS, nations gain access to vast markets, enhanced trade relationships, and investment opportunities that can drive sustainable economic growth. The intra-BRICS trade network provides a platform for countries to diversify their economies, reducing reliance on traditional trading partners and external markets.
Infrastructure development is another key focus of BRICS, with the NDB providing alternative financing solutions for nations looking to invest in critical sectors. For countries struggling under the weight of high-interest loans from Western institutions, BRICS offers a lifeline—one that allows for economic development without the strings attached. This is particularly crucial for nations looking to build resilient economies that can weather the storms of global instability.
Cultural Exchange: Building Bridges Between Nations
The third pillar of BRICS cooperation focuses on culture and people-to-people exchange. In a world where differences are often exploited for political gain, BRICS stands as a model for how diverse nations can come together in the spirit of mutual respect. Through cultural initiatives, such as the BRICS Film Festival and educational exchange programs, BRICS fosters deeper connections between its citizens, promoting tolerance, understanding, and collaboration.
Cultural exchange is not just a matter of diplomacy—it is a way to build lasting relationships between nations. By sharing their stories, histories, and experiences, BRICS nations create a foundation of trust and solidarity that strengthens the bloc as a whole.
A Future of Opportunity
The decision to join BRICS is not merely symbolic—it is a commitment to a future where all nations have a say in how the world is governed. For countries like Country X, membership in BRICS represents an opportunity to shape the global narrative, to participate in a system that focuses on fairness, and to contribute to a bloc that is leading the charge towards a more just world order.
As BRICS continues to expand, it is poised to play an increasingly important role in global governance, offering a platform for nations to thrive and ensuring that the voices of the Global South are heard and respected. Together, BRICS nations can build a future where all perspectives are valued, and where global development benefits everyone, not just a privileged few.
Dr Iqbal Survè, Past Chairman of the BRICS Business Council and Co-Chairman of the BRICS Media Forum and the BRNN.
Banthati Sekwala, Associate, BRICS+ Consultant Group.