BRICS Summit: Shaping Global Economic Power

BRICS countries are anticipated to drive global economic growth, challenging Western dominance. The upcoming summit in Kazan will discuss expanding BRICS and enhancing financial systems. Russia emphasizes using national currencies and developing new transport corridors, while promoting investment in technology and infrastructure.

The BRICS group is set to be the engine of global economic growth, surpassing developed Western nations in terms of size and speed, as emphasized by Russian President Vladimir Putin. He envisions BRICS as a counterforce in worldwide politics and trade balance, especially as it incorporates new members like Egypt and Iran.

During the upcoming summit in Kazan, Russia, scheduled for October 22-24, discussions will focus on bolstering BRICS as a leading economic bloc. Putin claims that BRICS countries will increasingly rely on their economic sovereignty, marking a shift away from Western influences, countering attempts to isolate Russia over Ukraine.

The agenda will also touch on financial reforms. Putin advocates for diminishing the U.S. dollar's dominance through initiatives like a new cross-border payments system and using national digital currencies. Additionally, the New Development Bank aims to enhance investment in technology and infrastructure, supporting global south nations, and promoting Russia's megaprojects connecting Eurasia and Africa.

(With inputs from agencies.)