The 2024 BRICS Summit, which opens in the Russian city of Kazan on October 22, is a three-day event that was touted by Kremlin spokesman Dmitry Peskov as "one of the main events on the global agenda."
What are the expectations surrounding the gathering?
During the event, Russia will propose initiatives outlined within the framework of its current BRICS chairmanship and related to humanitarian, economic, financial, parliamentary, and other fields.
The summit will consist of two parts, with the first one due to be held under the slogan of "Strengthening Multilateralism for Equitable Global Development and Security," while the second - "BRICS and the Global South – Jointly Building a Better World."
Participants are expected to discuss the creation of a BRICS digital payment platform, BRICS Bridge, and ways to increase trade in national currencies.
Russian President Vladimir Putin will hold 17 bilateral meetings with foreign counterparts on the sidelines of the summit, which will start ahead of the official opening of the gathering, on October 21. Putin, in particular, is due to sit down with Iranian President Masoud Pezeshkian to discuss comprehensive strategic partnership.
What is so unique about the summit?
With more than 30 countries already confirming participation, the summit “could turn into Russia’s largest-ever foreign policy event,” according to Russian presidential aide Yury Ushakov.
In this vein, mapping out clear-cut criteria for admission of new BRICS members and cooperation with partner countries in various formats is expected to be high on the summit's agenda.
Yury Ushakov earlier stressed that Moscow seeks to ensure "the smoothest possible entry of new BRICS members into the group’s existing multi-level cooperation architecture."
In addition to Russia, Brazil, India, China, and South Africa, BRICS – created in 2006 – also includes new members, such as Egypt, Ethiopia, Iran, and the United Arab Emirates.
Russia, which has held the group’s rotating presidency since January 1, 2020, adds to "enhancing the role of BRICS in the international monetary and financial system, developing interbank cooperation and expanding the use of national currencies in mutual trade,” according to President Putin.