Russia, Kazan hosts the BRICS 2024 Summit

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BRICS 2024 Summit to being on October 22nd  Over 30 countries to take part in BRICS Summit  The establishment of the Partner State status is at the top of the BRICS+ Summit agenda  Venezuela and Cuba requested to join the BRICS  Heads of State and govt. bring their proposals to the BRICS 2024 Summit  BRICS aims to create an alternative to the Western-dominated financial system  Moscow proposes creation of National Commercial Banks for direct connection between members  Moscow also proposed an International Reserve System  BRICS Summit  to address Israeli aggression in the Middle East and the Ukraine crisis

Transcript

00:00We now go with our special envoy in Kazan, Yunus Soner, for more information on the BRICS Plus 2024 Summit.

00:07Hello, good afternoon, good night, good evening from the city of Kazan in the Russian Federation,

00:12a city that is a symbol for the meeting of East and West as it has a population both Christian

00:22represented by its churches and Muslim represented by its mosques. But today and the days ahead,

00:30Kazan will be a symbol of the Global South because here will take place the BRICS Summit of this year

00:39starting tomorrow 22nd of October and lasting 24th of October, an important gathering of the

00:47countries of the Global South. 33 countries will be represented in this summit, 22 of them will

00:55be represented at the level of head of state or head of government, prime minister or presidential

01:01level. We know that there is a huge interest towards the alliance, that there are around 30

01:10members, 30 countries who think, who have expressed the will to join the alliance and this

01:17will be the number one agenda of this summit actually. How to relate to these new members,

01:25maybe establishing a new partner state system, these are proposals that will be discussed

01:31on this summit also as well as concrete and urgent requires or demands of certain countries

01:41that want to join the BRICS alliance. Remember among these countries are heavyweights of the

01:47Global South such as Venezuela and Cuba from Latin America, from Africa we have Nigeria and

01:54Kenya, very populous countries, from Eurasia let's say we have Turkey that expressed to join

02:01the alliance, from Asia we have Malaysia and Indonesia that also stated that they were

02:07interested in joining the alliance. So this will be topic one. Topic two in regards to the alliance

02:13will be the matter how will it proceed, how will it progress in terms of institutional development.

02:20Right now BRICS is merely described as a forum, as a gathering of heads of state and of ministers

02:27at lower level but there are proposals to advance the organization, the alliance more

02:33organizationally, to introduce rules of decision making, to introduce new formats so that maybe a

02:41new secretariat also for the alliance so that it becomes a more stable, more institutional framework.

02:49Deepening that integration is the main topic in terms of the economic sphere where we can highlight

02:59also the other very famous key word here, de-dollarization or maybe better said creating

03:08an alternative to the western dominated financial system. What's here on the agenda? The Russian

03:15federation which has the chairmanship of the alliance this year has presented several proposals

03:22among them is creating a network between national commercial banks via cryptocurrencies and

03:31blockchains so that these can exchange with each other trade and payments and establish a payment

03:38system so that they don't need to get to refer to the western dominated financial system

03:45and look for US dollars to finance foreign trade among themselves. But it doesn't stop there,

03:52there are more ideas in regards to integrating the countries with each other. There is the idea

03:58of establishing a BRICS reserve system so that countries that fall into a kind of economic crisis

04:06can recur to this reserve system which would essentially be an alternative to the infamous

04:14international monetary fund. Moreover, there is the proposal to create trading platforms,

04:22international trading platforms for BRICS countries and others that might like to join them

04:28to trade major commodities such as grain or also energy, oil products, mining products.

04:38These are traditionally traded and sold and bought and their prices dominated in western

04:45financial markets so this proposal would establish an alternative to them not dominated by western

04:53trading exchange platforms but by the BRICS platform. There are of course also ideas on the

05:00humanitarian and cultural level, there is the idea of deepening the inter-parliamentarian

05:06cooperation, there have been discussions about deepening scientific cooperation between BRICS

05:12countries, energy cooperation. There have been actually, this is worth mentioning, a number of

05:19summits before this presidential summit where ministers of BRICS countries have gathered on the

05:25level of economy, foreign ministers, agriculture, health, energy and so on to look for areas and

05:33possibilities of cooperation so these will also be discussed here on the BRICS forum that lasts

05:40until October 24. But the alliance does not close its eyes to the current global conflicts which

05:48dominate the agenda such as the war in Ukraine or the Israeli aggression against Palestine so

05:56these will also be dealt with in sessions. We heard that there will be a session for Palestine

06:02separately and it's worth here remembering that the Palestinian president Mahmoud Abbas

06:09has arrived to Russia, he has met yesterday with Vladimir Putin, the Russian president,

06:16who has invited Mahmoud Abbas to join the BRICS summit as well. So BRICS will not only

06:23deal with its own institutional and organizational agenda, deepening institutional integration,

06:31deepening economic integration, creating an alternative to the western-dominated

06:36financial system, advancing de-dollarization, it will also seek to develop common positions

06:44on current global conflict issues. These will be the days where the global south will meet here

06:52in the Russian city of Kazan and as a Russian politician has stated in my eyes correctly,

06:59the future of humanity will not be dominated by the US elections but by the outcomes of this summit.

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