Chinese President Xi Jinping and Indian Prime Minister Narendra Modi used the BRICS summit in Russia on Wednesday to signal their intent to build a more harmonious relationship after years of hostility between the world’s two most populous countries.
The meeting between Xi and Modi, who had not held formal talks in five years, was one of the highlights of the summit. President Vladimir Putin used the event to demonstrate that Western efforts to isolate Russia over the war in Ukraine had failed.
The summit’s final declaration listed several initiatives to boost trade among BRICS countries, including the development of an alternative payment system to the U.S. dollar, though no specifics or timelines were provided.
Just two days after New Delhi announced that it had reached an agreement with Beijing to resolve four years of military tensions along their disputed Himalayan border, Xi told Modi that both countries should enhance communication and cooperation while effectively managing their differences.
“It is in the fundamental interests of both countries and their peoples that China and India correctly understand the trajectory of history and the future direction of their relations,” Xi said, according to Chinese state broadcaster CCTV.
In response, Modi emphasized the importance of maintaining peace and stability along the border, stressing that mutual trust, respect, and sensitivity should form the foundation of their relationship.
“We welcome the fact that agreement has been reached on the issues that have arisen over the last four years,” Modi told Xi in remarks broadcast on India’s state television, Doordarshan.
The BRICS group, now representing 45% of the world’s population and 35% of its economy, held its summit at the same time as the annual meetings of the International Monetary Fund and the World Bank in Washington.
Former Goldman Sachs economist Jim O’Neill, who coined the term BRIC in 2001, told Reuters that he had little optimism for the BRICS group as long as China and India remained deeply divided.
“It basically looks to me like a symbolic annual meeting where important emerging economies like China, and especially vocal countries like Russia, can come together to emphasize how good it feels to be part of something that doesn’t involve the U.S., and to point out that global governance isn’t good enough,” O’Neill said.
However, the handshake between the leaders of India and China, along with the steps taken to resolve their border disputes in the lead-up to the summit, surprised many Western observers.
Highlights of the final declaration
In a show of defiance against Western efforts to isolate him, Putin hosted more than 20 world leaders, including Turkish President Recep Tayyip Erdoğan and Iranian President Masoud Pezeshkian, at the summit in the Volga River city of Kazan.
United Nations Secretary-General António Guterres also attended, reinforcing Putin’s message.
Although the final declaration did not include detailed statements on the Ukraine crisis, the issue was on the leaders’ agenda. Modi told Putin he wanted peace in Ukraine, while Xi Jinping and Sheikh Mohammed bin Zayed Al Nahyan, the UAE leader who has attempted to mediate, also discussed the war in closed-door talks with Putin.
The summit’s 43-page final declaration addressed a wide range of issues, from geopolitics and drug trafficking to artificial intelligence and even big cat conservation. Ukraine was mentioned only once.
“We note with appreciation the relevant proposals for mediation and goodwill missions aimed at the peaceful resolution of the conflict through dialogue and diplomacy,” the Kazan declaration stated.
The document also called for a ceasefire in Gaza and the West Bank and condemned Israeli attacks on humanitarian aid operations, personnel, and distribution points.
While there were few specifics on alternative payment systems, the BRICS leaders expressed interest in their development and instructed central banks to report back during the next presidential term.
Citing factors such as population growth, urbanization, capital accumulation, and productivity growth, Putin said: “The trend towards the leading role of BRICS in the world economy will continue to strengthen.”
China and India currently buy about 90% of Russia’s oil, which remains Moscow’s largest foreign exchange earner. Russia is the world’s second-largest oil exporter.
The leaders indicated their intent to promote the institutional development of BRICS, though it was unclear whether the group would be expanded.
Putin noted that more than 30 countries had expressed interest in joining BRICS, but he emphasized the importance of maintaining balance in any future expansion.
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