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BRICS summit 2024 infographic
Graphic shows details of BRICS members.
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ECONOMY

BRICS summit to showcase rise of Global South

October 22, 2024 - October 24, 2024 - The BRICS summit due to be held in Kazan, Russia, will bring together founding members Brazil, Russia, India, China and South Africa, as well as newly inducted nations.

Dozens of countries from four continents have reportedly submitted their membership applications for consideration at the annual summit – including, for the first time, a NATO member state: Turkey.

As many as 10 additional countries could be approved by the nine-member bloc at its summit, although the latest wave of newcomers might be classified as “partner countries” rather than full members.

While the BRICS organisation has no policy-making powers or financial system, the group is united by its opposition to Western sanctions and its efforts to reduce the dominance of the U.S. dollar in global trade. It is seeking an international payments system that would allow its members to bypass sanction measures, according to The Globe and Mail.

Sources
PUBLISHED: 16/10/2024; STORY: Graphic News
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