The upcoming BRICS Summit in 2023 is set to bring together leaders from Brazil, Russia, India, China, and South Africa for crucial discussions on various global issues. While detailed information about the agenda remains limited, several important topics are expected to take center stage during the summit.

BRICS Expansion A Divisive Issue

One of the most pressing matters on the agenda is the expansion of the BRICS bloc by admitting new member countries. Over 40 nations, including Saudi Arabia, Iran, UAE, Argentina, Indonesia, Egypt, and Ethiopia, have expressed interest in joining BRICS. However, the leaders are divided on this matter, including the criteria for admission. China is supportive of expansion to enhance its influence, while Brazil is cautious, and India remains undecided.

Economic Cooperation for Diverse Economies

Economic ties between the BRICS nations will be a pivotal topic of discussion. The leaders are expected to engage in comprehensive conversations about trade and investment opportunities across various sectors. These discussions will encompass energy cooperation, infrastructure development. The digital economy and strategies also address challenges in the job market.

Expanding Role of NDB and Its Membership

The New Development Bank (NDB), established in 2015, will likely feature prominently in discussions. The NDB’s exploration of alternative currencies for transactions will be a topic of interest. However, the idea of a common BRICS currency will not be on the agenda. Additionally, the summit may serve as a platform to attract new member countries to the NDB, with Bangladesh, UAE, and Egypt having recently joined and Uruguay in the process of joining. While other nations like Algeria, Honduras, Zimbabwe and Saudi Arabia express interest.

Engaging “Friends of BRICS”

The last day of the summit will focus on interactions with leaders from other countries, often referred to as “Friends of BRICS.” Invitations were extended to leaders from 67 nations across Africa, Latin America, Asia and the Caribbean. Notably, discussions with French President Emmanuel Macron were not pursued due to Russian objections stemming from French support for Ukraine during the conflict with Russia. The summit will also explore the relationship between BRICS and African countries, aligning with the theme “BRICS and Africa.” This theme reflects a keen interest in leveraging opportunities provided by the African Continental Free Trade Area.

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BRICS Summit 2023 unfolds

The global community will be eagerly awaiting the outcomes of these critical discussions. The summit’s agenda is poised to shape the direction of economic cooperation, geopolitical alliances and international relations in the years to come.