October 21, 2024

The 16th BRICS Summit, scheduled to be held in Kazan, Russia, from October 22 to 24, has drawn global attention as it marks the first summit since the group's expansion.

This year marks the beginning of greater BRICS cooperation. During the upcoming summit, President Xi Jinping and leaders of other BRICS countries are expected to draw a blueprint for the development of its mechanism, inject new impetus into a multipolar world, facilitate economic globalization and democratization of international relations, and open up a new chapter for the solidarity and development of the Global South, according to Xinhua News Agency.

With global development and security expected to be focused during this summit, experts believe that strengthening financial cooperation within the group could help diversify the global payment system and promote fairness among Global South countries. 

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