The 15th BRICS summit, the first in-person meeting since 2019 was held in Johannesburg, South Africa. South Africa has chosen the theme “BRICS and Africa: Partnership for Mutually Accelerated Growth, Sustainable Development, and Inclusive Multilateralism” for the summit.
Apart from BRICS leaders, South Africa had invited all 55 members of the African Union (AU) to the event and about 20 other leaders from Asia, South America and Small Island States who represent the Global South for sessions on the sidelines of the summit.
Outcome of BRICS Summit
Expansion of BRICS: BRICS members agreed to induct six new member countries with their membership coming into effect from January 2024. These countries include Argentina, Egypt, Ethiopia, Iran, Saudi Arabia and the UAE.
Johannesburg II Declaration: It encapsulates significant BRICS viewpoints on global economic, financial and political matters.
Three pillars: BRICS members committed themselves to strengthening the framework of mutually beneficial BRICS cooperation under the three pillars of- o Political and security, o Economic and financial, and o Cultural and people-to-people cooperation.
Enhancing Strategic Partnership: With a focus on areas like the promotion of peace, a more representative, fairer international order, a reinvigorated and reformed multilateral system, sustainable development and inclusive growth.
Trading in local Currencies: The BRICS summit tasked BRICS finance ministers and/or central bank governors to consider the issue of local currencies, payment instruments and platforms.
Push for UN reforms: The statement for the first time in the recent past said that BRICS countries support a comprehensive reform of the UN, including its Security Council.
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