International Knowledge Bureau- The BRICS Summit kicks off in Kazan. Why is there much potential for “Greater BRICS Cooperation”-_1
On October 22, the 16th summit of BRICS leaders kicked off in Kazan, Russia, marking the first gathering since the historic expansion of the group. In a changing global landscape, an increasing number of countries are expressing interest in joining the BRICS family. What makes the BRICS cooperation mechanism so appealing? With a larger population, more resources, and a broader market than ever, how will the “new BRICS” continue to contribute to global peace and development?
To delve into these questions, we spoke with Wang Youming, a researcher at the China Institute of International Studies, and Wang Lei, a professor at Beijing Normal University and director of the BRICS Research Center.
**The Strong Allure of the BRICS Brand**
As the summit began, Russia’s presidential aide Ushakov revealed that over 30 countries are currently interested in joining the BRICS cooperation mechanism. “It’s quite rare in the history of global multilateral mechanisms to see so many countries eager to join BRICS,” Wang Youming noted.
So, why is the BRICS cooperation mechanism gaining such popularity? Experts have identified three main reasons.
“First and foremost, BRICS aims to rebalance global governance mechanisms and promote fairer, more equitable development. This aligns with the interests of many developing countries,” Wang Youming explained.
Wang Lei added that BRICS’ commitment to openness and inclusivity allows member and invited countries to engage in equitable dialogue and negotiation, which is a significant manifestation of BRICS’ soft power.
Secondly, more nations are realizing that BRICS is not just talk but a pragmatic “action team.”
“From establishing the New Development Bank to the BRICS Emergency Reserve Arrangement, and collaborations in areas like vaccines, agriculture, and energy security, BRICS countries have reached substantial consensus, enabling cooperation that benefits every member,” Wang Lei highlighted.
“Currently, BRICS nations are developing new economic models, particularly in digital and green economies. Countries in the Global South wish to keep pace with the new industrial revolution and not fall behind amid ongoing restructuring of global supply and value chains. They see joining BRICS as a way to complement their advantages with countries like China and Brazil,” Wang Youming added.
Thirdly, the development models of BRICS countries are attractive to many nations in the Global South.
“These countries are particularly interested in the Chinese model of modernization and hope to learn from China’s development experience,” Wang Youming said. Many Global South nations are curious about how China has achieved significant technological advancements amid Western constraints. They aim to join the BRICS family to draw from its experiences, engage in dialogue, and reduce dependence on the West while expanding their development strategies.
**The Potential of the New BRICS**
With its expanded membership, the “New BRICS” now accounts for nearly half of the global population and one-fifth of global trade. In terms of purchasing power parity, its share of global GDP has increased from 31.6% to 35.6%, making it an undeniable force in promoting a multipolar world.
“The success of BRICS today hinges on the spirit of ‘openness, inclusivity, and win-win cooperation,'” Wang Youming emphasized. “This spirit is practical; it’s not just rhetoric but is reflected in action.”
He elaborated that BRICS members consistently seek common ground while respecting differences for the greater good, a rare trait in multilateral cooperation. Furthermore, the BRICS spirit is characterized by adaptability, actively seizing opportunities in international affairs and leading spheres like the new industrial revolution. These factors lay a solid foundation for its ongoing development.
Wang Lei pointed out that 2024 marks the first official year of “New BRICS Cooperation,” offering numerous opportunities.
“The most significant opportunity lies in the scale effect following the expansion,” Wang Lei noted. The doubling of BRICS membership enhances its share of global population, territory, and GDP, solidifying its influence in institutions like the IMF and World Bank—providing a robust base for further expanding cooperation.
Moreover, Wang Lei suggested that the expansion will drive internal adjustments and reforms within BRICS. The “New BRICS” can strengthen its institutional framework, enhance quality, and promote more pragmatic and stable operations.
Additionally, through “New BRICS Cooperation,” member nations can deepen connections with other countries in the Global South, explore common development visions, solidify their influence within the developing world, and advocate for reforms toward a more equitable and sustainable global governance system.
As BRICS stands at this new starting point of expansion, it faces both opportunities and challenges. The cooperation mechanism must focus on building consensus, prioritizing cooperation, and improving efficiency and quality in the new era of “New BRICS Cooperation.”