32 countries participating in the ongoing BRICS summit.

The 16th BRICS Leaders' Summit, taking place from October 22-24, 2024, in Kazan, Russia, brings together the heads of state of at least 24 countries. The event is taking place in Kazan, informally known as “the third capital of Russia.” This city, located in the Volga in the Republic of Tatarstan, is the eighth most populous in the Russian Federation, with a metropolitan population of 1.57 million inhabitants.

Muslims and Orthodox Christians live in peace with over 173 ethnicities in a republic with a rich history.

The agenda of the meeting includes topics relevant to Latin America, such as technology transfer, a scheme that could help Latin American countries overthrow imperial blockades and avoid the neoliberal bribes and pressures that Western powers maintain with colonies to sustain their extractivist dependence.

Moreover, the New BRICS Development Bank, where Comrade Dilma Rousseff, former Brazilian President, is at the Chief Office, is presented as a viable option compared to the formulas of the International Monetary Fund, which are criticized for generating inequality and poverty in the region.

The meeting features the founding nations (Brazil, Russia, India, China, and South Africa), from which the group derives its acronym, as well as countries that joined at the beginning of 2024: Egypt, the United Arab Emirates, Ethiopia, and Iran (Saudi Arabia is expected to confirm its membership during the meeting). Meanwhile, dozens of invited countries are participating in the summit, many of which have formally expressed their intentions to join the bloc.

The Agenda Of The Summit

The event started on October 22 at 19:00 with a welcoming ceremony for the BRICS leaders, followed by an informal lunch with a cultural program.

On October 23, the heads of state participate in an extended session at noon, with the participation of senior representatives from each country.

On October 24, the summit continues with a plenary session at 10:15, focused on cooperation with invited countries. At 13:30, a second plenary session is held.

Finally, the summit officially concludes with a closing ceremony scheduled for the afternoon of October 24, where the leaders are expected to present a joint statement and announce the main agreements reached during the event. This will formally close the 16th BRICS Summit.

Agenda And Key Topics

The summit focuses on strengthening economic and financial cooperation, with special emphasis on the development of alternative mechanisms to the Western-dominated financial system.

The BRICS proposal to create a new payment system, known as the "BRICS Bridge," is one of the main points of discussion. This system seeks to offer an alternative to the dictatorship of the US dollar in international transactions, especially in countries under economic warfare and imperial coercive measures, such as Venezuela, Cuba, and Nicaragua.

Another key focus is the strengthening of sustainability and climate response. The First BRICS Climate Congress, held in Sirius from October 20 to 21, serves as a basis for discussing concrete measures that leaders adopt to combat climate change and promote a green economy.

The agenda also includes topics related to innovation, where collaboration on emerging technologies is discussed, particularly within the framework of the BRICS Innovation Forum, which takes place in Moscow throughout October 2024.

Digitalization and artificial intelligence play an important role, considering the growing relevance of these areas for sustainable economic development.

Financial Cooperation and Technological Development

One of the pillars of the summit is financial cooperation, where the leaders discuss measures to deepen the agreements of the BRICS Interbank Cooperation Mechanism and advance the creation of a payment system independent of the US dollar.

These efforts seek to promote more balanced trade and protect member countries from global financial fluctuations. In addition, digitalization and technological innovation are critical areas of collaboration.

In this regard, events such as the Conference on Information Technologies and Digital Transformation in November 2024 establish the foundations for future collaborations in emerging technologies.

Sustainability And Climate Change

The BRICS also seeks to position itself as a relevant actor in the fight against climate change. Within the framework of this summit, initiatives in renewable energies and emission reduction are emphasized, in line with the results of the Climate Congress held at Sirius.

The leaders may announce joint commitments to accelerate the transition to a greener economy, reflecting one of the bloc's top priorities.

The Kazan summit promises to be a key space for articulating a joint strategy in which BRICS nations reinforce their role as a counterweight to Western powers while working to address global challenges such as sustainability, technological innovation, and financial stability.

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