Russia’s President Vladimir Putin will host leaders for the 16th summit of BRICS nations.
It’s the group’s first major gathering since it welcomed new members in January.
CGTN’s Huang Fei reports.
It’s the group’s first major gathering since it welcomed new members in January.
CGTN’s Huang Fei reports.
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NewsTranscript
00:00Welcome to Kazan, Russia, a city that shares its name with the iconic Family Center, where couples come to tie the knot.
00:07This unique architecture embodies Kazan in Slavic languages, a giant cauldron blending diverse cultures and faiths.
00:15It's a fitting backdrop for the BRICS Summit, where leaders from founding nations will welcome five new members,
00:21alongside over 30 countries interested in joining.
00:26BRICS began with the unification of the largest countries by population and territory, located in different parts of the world.
00:33This allows for a distinct perspective on the global processes, fostering constructive dialogue among nations.
00:40Countries seeking their place want to engage in a framework where they are heard and understood.
00:45Leaders are expected to address key global issues, from climate change to food security and tech cooperation.
00:52A top priority will be financial reforms, including exploring national digital currencies for investments and the potential for a common BRICS currency.
01:02The summit will also test BRICS Pay, a decentralized payment messaging system like SWIFT.
01:08This new tool is aimed at boosting trade cooperation while helping member nations reduce their dependence on Western institutions.
01:16Local businessman Daniel Galywin welcomes the move.
01:20He manufactures boilers for Russian energy companies, increasingly sourcing parts from China due to Western sanctions.
01:29As a business person, I faced significant challenges earlier this year.
01:34While some issues have been resolved, financial hurdles remain, including extra costs for transferring money to China.
01:41I hope BRICS will simplify operations and help balance currency differences, because we are currently very dependent on the dollar and the euro.
01:51There will also be special focus on interactions between China's President Xi Jinping and Russian President Vladimir Putin.
01:58This is President Xi's 10th visit to Russia as China's leader.
02:03Russia and China always have something to offer each other, including our mutual cultural enrichments and close economic ties.
02:11The two countries support each other in a complex international situation.
02:15This trust extends from the highest levels down to the grassroots, as people here in Russia are very interested in what is happening in China.
02:24Amid global economic slowdowns and geopolitical divides, China is stepping up as a driver of growth and stability for emerging economies.
02:34Beijing remains committed to free trade, strengthening global supply chains, as well as achieving the UN's 2030 climate goals.
02:42In the next few days, China will continue to advocate for multilateralism, positioning itself as a stabilizing and positive force in global affairs.
02:52Huangfei Sijitian, Kazan, Russia.