Russia: 16th Brics summit continued on its second day with the declaration of a global reform

The 16th Brics summit continued on its second day, our special envoy Yunus Sonner brings us details from Kazan, Russia.

Transcript

00:00And we continue in the framework of the BRICS Summit with our special envoy

00:04in Kazan, Russia, Yunus Öner with the details of his report.

00:09The 16th Summit of the BRICS Alliance has come to an end today on October 24

00:17with the final press conference of Russian President Vladimir Putin,

00:21who qualified the Alliance as the gathering of, I quote,

00:25truly independent and sovereign states that seek to establish their own path.

00:31And he added that the struggle will go on

00:34to establish a more democratic, inclusive and multipolar world.

00:4035 countries have taken part in the summit,

00:43in the last part, in the BRICS Plus part, in addition to the normal members.

00:49And several important decisions were taken.

00:52Firstly, the issue of BRICS expansion.

00:56Here, the members have introduced a new category.

01:00This is the partner country category.

01:03The details of it have to be determined yet.

01:06That is, what rights and obligations has a partner country in difference to a member?

01:12This is yet to be found out.

01:14But this category has been established now.

01:18And a dialogue has started to reach a consensus

01:23about countries that would like to have this status.

01:27In addition, the deepening of financial integration

01:31and joint economic activities have been agreed upon.

01:35Above all, a joint investment platform is on the horizon.

01:40The new development bank, the BRICS Bank, will play a bigger role in the future.

01:46Also, studies will be pursued to further advance trade in national currencies

01:53as well as trade in cryptocurrencies.

01:55And, as I said, the international investment position of the BRICS will advance further on.

02:03During the speeches, during the three days,

02:07the dominant topic, the dominant theme was multipolarity.

02:12In Friday and Thursday's speeches,

02:15almost all of the leaders, heads of government or prime minister

02:19emphasized that the world is in transition to multipolarity.

02:24And they demanded that the international organizations,

02:28such as the United Nations and its Security Council,

02:31but also the World Bank or the IMF,

02:34have to reflect this truth by giving the Global South a bigger power.

02:40Now, until the end of the year, Russia will still hold some events as BRICS chairmanship.

02:48And on the 1st of January 2025,

02:52the presidency, the temporary presidency of the BRICS Alliance will be handed over to Brazil.

02:59This is the final report from Kazan, Russia,

03:03with the closure of the BRICS Summit here in Kazan.