The 16th BRICS Summit kicked off today in Kazan, hosted by Russian President Vladimir Putin.

According to the Kremlin, representatives from 32 countries, including 24 heads of state, are expected to attend the event in the semi-autonomous Republic of Tatarstan.

The summit will officially begin this evening with a “friendly dinner” for all attending leaders. Before that, however, Putin will hold a series of bilateral meetings, which are set to continue after dinner and over the coming days.

Today, the Russian president is scheduled to meet with Indian Prime Minister Narendra Modi, South African President Cyril Ramaphosa, Chinese President Xi Jinping, and Egyptian President Abdel Fattah El-Sisi. The leaders are expected to discuss a wide range of issues.

Putin will also meet with the President of the New Development Bank, former Brazilian President Dilma Rousseff. This marks their third meeting since Rousseff took on her role at the New Development Bank.

Expansion agenda

The BRICS group—comprising Brazil, Russia, India, China, and South Africa—has recently expanded to include Egypt, Ethiopia, Iran, and the United Arab Emirates.

The BRICS bloc now represents 45 percent of the world’s population and 35 percent of the global economy in purchasing power parity (PPP) terms.

President Putin noted that 34 countries, including Turkey, have expressed interest in joining the bloc.

Experts expect the summit to focus on BRICS expansion, with Russian officials highlighting the group’s adaptability and long-term growth agenda.

While BRICS is often seen as an alternative to Western-centric institutions, Putin told reporters from BRICS countries that “BRICS is not in opposition to anyone” and that the shift in global growth dynamics is simply a reflection of reality.

“This is a union of states working together on the basis of shared values, a common vision of development, and, above all, the principle of taking each other’s interests into account,” he said.

As the BRICS summit opens, finance chiefs from around the world are also gathering in Washington for an IMF meeting.

Xi and Modi attend summit, Lula absent due to illness

Chinese President Xi Jinping arrived in Russia this morning to attend the summit, accompanied by senior Chinese Communist Party official Cai Qi and Foreign Minister Wang Yi.

Xi is expected to hold bilateral talks during the summit, focusing on key issues such as financing, technology, food trade, and expanding the bloc’s membership.

Indian Prime Minister Narendra Modi is also attending, though Brazilian President Luiz Inacio Lula da Silva canceled his trip on medical advice. Lula was advised to avoid long-haul flights temporarily following a head injury that caused a minor brain hemorrhage.

Before departing for Russia, Prime Minister Modi emphasized the importance of BRICS in fostering dialogue on global challenges. “India values close cooperation within BRICS, which has become an important platform for dialogue on the global development agenda, reformed multilateralism, climate change, economic cooperation, building resilient supply chains, and promoting cultural and people-to-people linkages,” he said, according to India Today.

BRICS vs. G7

The term BRIC was first coined in 2001 by then-Goldman Sachs chief economist Jim O’Neill in a research paper that highlighted the growth potential of Brazil, Russia, India, and China.

These countries began formal cooperation, and Brazil was later added, followed by South Africa. Egypt, Ethiopia, Iran, and the UAE have since joined, although Saudi Arabia has not yet formally become a member.

According to the International Monetary Fund, the BRICS’ share of global GDP is expected to rise to 37 percent by the end of the decade, while the G7’s share is projected to decrease from 30 percent to around 28 percent this year.

Alternative payment systems to counter sanctions

Russia is urging BRICS countries to develop an alternative platform for international payments, one that is resistant to Western sanctions.

Alternative payment methods are expected to be a key topic on the summit’s agenda.

In an interview with the Serbian daily Politika, published on the Russian Foreign Ministry’s website, Russian Deputy Foreign Minister Sergei Ryabkov suggested that significant progress could be made in mutual payment mechanisms after the Kazan summit.

“I believe that as a result of the summit in Kazan, we will see significant developments in this area. As our Chinese friends say, ‘a journey of a thousand miles begins with one small step.’ I think we will take a not-so-small first step,” Ryabkov said.

However, Ryabkov cautioned that no “giant leap forward” should be expected, noting that the process will likely evolve gradually, as BRICS operates on a consensus basis.

“We have a long way to go for a gradual transition from payments in national currencies to the creation of a single BRICS currency,” the diplomat added.

German Chancellor Olaf Scholz met with Turkish President Recep Tayyip Erdoğan in Istanbul, where the topics of asylum seekers and arms exports took center stage.

Speaking after the meeting, Scholz noted that it was a ‘matter of course’ for NATO partner Türkiye to purchase German weapons, even expressing openness to the supply of Eurofighter jets.

Britain leads Eurofighter negotiations

Scholz clarified that negotiations regarding the supply of Eurofighter jets to Türkiye are being led by the UK, and that discussions are still in the early stages.

“There are some projects that have just started. This is a project the British government is leading, and negotiations are now beginning,” Scholz said at a press conference with Erdoğan, responding to a question on the topic.

Ankara had announced last year its interest in purchasing Eurofighter jets, but progress has been slow, largely due to Berlin’s concerns over Türkiye’s stance on the Gaza conflict.

Germany increases arms deliveries to Türkiye

According to Der Spiegel, Berlin recently approved significant arms deliveries to Türkiye, including anti-aircraft missiles valued at several hundred million euros.

Ahead of Scholz’s second visit to Türkiye in his three years in office, reports surfaced that the German government had once again approved large-scale arms exports to Türkiye. Tagesspiegel reported that, by October 13 of this year, 69 export licenses worth €103 million had been issued. Among these were weapons valued at €840,000.

For the first time since 2011, the approved export value for Türkiye has returned to the hundreds of millions. In the last major approval, 28 torpedoes and 101 guided missiles were greenlit for export.

Regarding the Eurofighter jets, since they are to be co-produced with Germany, the German government must also approve their sale.

Scholz: Relations have ‘noticeably improved’

The Eurofighter Typhoon jets are produced by a consortium of Airbus, BAE Systems, and Leonardo, with participation from Germany, the UK, Italy, and Spain. Any of the four nations can veto the sale, though London is currently leading the negotiations.

Erdoğan expressed satisfaction with the renewed defense cooperation, stating that previous obstacles to defense procurement “should now be left behind.”

The meeting between Scholz and Erdoğan, attended by top officials and ministers from both countries, was described by Scholz as a ‘visible sign’ of the improved quality of relations between Germany and Türkiye.

Migration: Low profile on concrete outcomes

When questioned about specific results on migration, both leaders kept a low profile, according to Tagesspiegel.

The German government is seeking to deport criminals not only to Afghanistan but also to Syria, and is exploring potential cooperation partners. Scholz reiterated his intention to deport “criminals” to Syria but avoided confirming whether Türkiye would assist in this effort.

As of September, 15,789 Turkish citizens were slated for deportation from Germany, an increase of 1,200 compared to five months earlier. During the first half of the year, 441 deportations were carried out.

Interior Minister Nancy Faeser recently stated that Türkiye had agreed to accelerate the repatriation of Turkish citizens, although no concrete details have been announced.

Erdoğan on migration and economic ties

Erdoğan noted that trade between Türkiye and Germany had reached $50 billion, with hopes of increasing this figure to $60 billion.

On the topic of migration, Erdoğan highlighted that Türkiye currently hosts around 3.5 million Syrian refugees and that the country will continue to keep its doors open to them.

“We worked on this issue during [former Chancellor] Merkel’s time in office. Our door has always been open, and it remains so. When people from the Middle East or Lebanon came, we welcomed them. There are also Turkmen in Lebanon. Our door is open,” Erdoğan said.

Scholz thanked Erdoğan for Türkiye’s efforts in managing migration and assured that Germany would continue supporting Türkiye in handling the influx of Syrian refugees.

Disagreements on Gaza

The two leaders maintained differing views on the situation in Gaza. Erdoğan accused Israel of committing genocide, a claim Scholz firmly rejected.

“Germany does not believe that the accusation of genocide is justified,” Scholz stated, while emphasizing that Israel has the right to self-defense, provided it adheres to international law.

Scholz acknowledged their disagreement on the issue, remarking: “Even if we do not agree on everything, an intensive dialogue on international conflicts is important—it is the only way to find solutions.”

Calls for cooperation on Ukraine

Both leaders expressed a desire to collaborate on the Ukraine conflict, though their statements remained vague.

“We are both on the side of Ukraine,” Scholz said, adding that he would like to explore how Türkiye and Germany could cooperate on the matter.

In recent weeks, Scholz has intensified efforts to advocate for a new peace conference on Ukraine that would include Russia.

The organization, which expanded in 2024 with the addition of Egypt, Ethiopia, Iran, and the United Arab Emirates, represents 45 percent of the world’s population and a third of global GDP. Under Russia’s chairmanship, various initiatives to increase the use of national currencies and strengthen financial mechanisms are at the forefront.

BRICS is an informal grouping of large, rapidly developing economies.

Originally known as “BRIC,” an acronym for Brazil, Russia, India, and China, the organization was renamed “BRICS” in 2010 with the addition of South Africa.

Starting in 2024, Egypt, Ethiopia, Iran, and the United Arab Emirates (UAE) will also be official members. Despite their different cultures, political systems, and economic models, these countries aim to develop together and strengthen their position on the global stage.

BRICS now accounts for about a third of the world’s gross domestic product (GDP) and 45 percent of the world’s population. The member nations are also participants in international organizations such as the G20, the United Nations, the World Trade Organization, the Non-Aligned Movement, and the Group of 77, as well as numerous regional associations.

The organization’s activities are coordinated at an annual summit hosted by a different member country each year. Russia assumed the BRICS presidency on January 1, 2024.

History of BRICS

The concept of BRICS was first proposed in the early 2000s by Goldman Sachs analysts, who predicted that the economic growth of Brazil, Russia, India, and China would have a major impact on the global economy in the coming years.

The first meeting of the group was held on September 20, 2006, at the initiative of Russian President Vladimir Putin on the sidelines of the 61st session of the United Nations General Assembly. It was attended by the foreign ministers of Brazil, Russia, and China, as well as the defense minister of India. The countries expressed their interest in expanding multilateral cooperation.

The first BRIC Summit was held in Ekaterinburg in 2009. The joint declaration issued at the end of the summit emphasized that cooperation among BRIC countries not only serves the common interests of developing economies but also contributes to world peace and prosperity.

The group’s goal was to create a platform for cooperation in areas such as trade, investment, infrastructure projects, energy efficiency, new technologies, and culture.

BRICS relations are based on the UN Charter, universal principles, and norms of international law. The basic principles of BRICS—openness, pragmatism, solidarity, non-alignment, and neutrality towards third parties—were adopted at the 2011 summit.

Aims and objectives of BRICS

Today, BRICS is pursuing several key objectives:

• Economic cooperation: The BRICS countries aim to create a sustainable economic environment for all participants. Priorities include improving trade relations, promoting investment, expanding infrastructure projects, and combating poverty and social inequality. The group also aims to increase the use of national currencies in mutual agreements.

• Political dialogue: The countries support multipolarity in the international arena and work to define common positions on key issues. In July 2024, Russian President Vladimir Putin approved the creation of a parliamentary structure within BRICS, announced at the BRICS Parliamentary Forum.

• Social development: BRICS members seek to improve health, education, and social protection in their respective countries. For example, the BRICS countries have launched a program to combat infectious diseases through data sharing, joint clinical trials, and the development of new vaccines. In 2023, a malaria vaccine developed by scientists from India and South Africa, with a 90 percent success rate, was introduced in many African countries.

• Scientific and technological cooperation: BRICS places great emphasis on innovation and technological advancement. In 2023, the International Research Centre for Artificial Intelligence was opened in Russia in cooperation with universities and companies from BRICS countries. The center hosts major projects such as the development of intelligent systems for healthcare and industry. Investments in this area are expected to exceed $10 billion by 2025.

BRICS institutional organization

BRICS activities are not limited to annual summits. Many working groups and councils within the organization carry out the tasks defined at these summits. Among these structures, the Council of Expert Centres, the Business Council, and the Science Council stand out.

Additionally, various events are organized, such as BRICS+, the International Municipal Forum, the Parliamentary Forum, and the International Innovation Forum. These forums will be held in Russia in 2024.

Two financial institutions that deserve special attention are the Foreign Exchange Reserve Pool and the New Development Bank (NDB). These institutions play a critical role in maintaining financial stability and financing infrastructure projects in member countries. The Foreign Exchange Reserve Pool, established to ensure financial stability, has a capital of $100 billion.

The New Development Bank, meanwhile, aims to strengthen financial cooperation between member countries and support infrastructure projects. The bank is chaired by former Brazilian president Dilma Rousseff. It has approved renewable energy and infrastructure projects worth around $8 billion and has financed 98 projects totaling $33.2 billion.

Russia’s presidency

In 2024, Russia is hosting several important BRICS-related events. These include the BRICS Foreign Ministers’ Meeting in Nizhny Novgorod, extended meetings with representatives of the Global South and East, and meetings with the heads of supreme courts, law enforcement agencies, and space agencies. An international bipartisan forum was held in Vladivostok.

Russian Foreign Ministry spokeswoman Maria Zakharova has stated that, in accordance with the decisions of the Johannesburg Summit, BRICS will continue to work on creating financial mechanisms resistant to external risks and increasing the use of national currencies in BRICS trade and investment transactions.

Additionally, Kazan, the capital of Tatarstan, will host the 16th BRICS Summit from October 22-24, 2024.

In June, Kazan also hosted the BRICS Games, where athletes from 50 countries participated in competitions across 25 sports held at 12 different venues.