BRICS+ Foreign Ministers Press Multilateral Fora to Rise Up to Current Global Challenges

As part of the ramp up to the 16th BRICS Summit (#BRICS2024) in Russia scheduled for October 2024, the Foreign Ministers of the #BRICS member states met in Nizhny Novgorod to tune their voices to the same key.

This preparatory meeting is the first high-level meeting involving the ministers of international relations from new member states of BRICS which were officially admitted at the beginning of 2024. Many other countries are knocking at the door of the BRICS to get in on the action of one of the most dynamic groupings in terms of economic development.

BRICS+ Foreign Ministers in Nizhny Novgorod, Russia

With the enlarged BRICS, the grouping represents 46% of the world population and contributes 37% to the global GDP. In fact, some analysts see the BRICS as the grouping of the #GlobalSouth. As a matter of fact, the Russian press agency TASS released an infographic comparing the new BRICS with G7 which highlights the growing clout of BRICS+.

According to the Joint Statement which was released on 10 June 2024, the BRICS recognized the key and critical role played by multilateral platforms such the #UN and #G20. However, these same multilateral fora have proven ineffective in the face of current global conflicts as evidenced by the Russia-Ukraine war and the Israel-Palestine fight in Gaza. Needless to say, the BRICS reiterated the urgent need for reforms of these international institutions in order to stay relevant and useful in today’s multipolar world.

Extended BRICS Foreign Ministers Meeting 2024
Extended BRICS Foreign Ministers Meeting 2024

Similarly, global challenges such as #ClimateChange, #FoodSecurity or #PandemicControl would not be feasible without the developing countries, or #GlobalSouth. Thus, BRICS+ ambitions to be the de facto platform where the concerns and interests of the #GlobalSouth are given due consideration. This principle is in line with #AU leitmotiv of promoting: “African solutions to African problems’.

In a related news, Saudi Arabia decided to end its half-century-old #petrodollar deal with USA signed in 1974, in line with the #dedollarization drive of BRICS and phasing out of fossil fuels. At the same time, BRICS is pushing to have its own cross-border interbank transfer system. The move comes as a pushback to the weaponization of the USD.

It is worthwhile to note that Russia also hosted the first BRICS Games from 12 to 23 Jun 2024. The #BRICS Games is taking place just before the Paris Olympics and has attracted athletes from 97 countries competing in 20 disciplines. All these countries cannot probably get in at once, but gauging by the level of participation, the interest to join BRICS is palpable.

BRICS+ vs G7