India chaired the 13th BRICS Summit. China to chair the 14th.
On 9th September 2021, PM Narendra Modi chaired the 13th BRICS summit. The Meeting was attended by Pres. Xi Jinping, Pres. Vladimir Putin, PM Jair Bolsanaro and Pres. Cyril Ramaposa.
“U.S. and its allies withdrawing from Afghanistan has led to a new crisis and it is unclear how it will affect our regional and global security” – Vladimir Putin.
What is BRICS?
Jim O’ Neill the Chief Economist of Goldman Sachs coined the term BRIC in 2001. The Acronym stands for Brazil, Russia, India, China. The Big 4, world’s most rapidly growing economies. His analysis was that these four economies would produce the majority wealth of the world by 2040. In 2010, South Africa also became a member country of the BRIC, hence the acronym BRICS.
The combined population of BRICS is 3.14 Billion (2021) which is approximately 45% of the world population and a Nominal GDP of $28 trillion (2020).
The preeminent function for the construction of BRICS was the combined economic development of its members which includes the developing and developed world economies. In recent years regional security, maritime security and collective stand on international matters also formed the agenda of the summit.
Who said what at the virtual BRICS Summit 2021?
While Russia criticised the role of U.S. and her allies regarding the change of events in Afghanistan countries like China and India avoided the issue while focusing on strengthening multilateralism.
As of now BRICS stand on recognising or rejecting the new political hierarchy of Afghanistan is unclear. However it is evident that all of the five nations want Afghanistan to be stable for it to become a part of the global governance.
“In the year 2021 BRICS has conducted more than 150 meetings out of which more than 20 are held at ministerial level” – Narendra Modi.