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BRICS Summit 2023: Preview & Anticipation



  Aug 24, 2023

BRICS Summit 2023 :Curtain Raiser


1. What is the BRICS Summit 2023 about?

The BRICS Summit 2023 is a meeting of the leaders of the BRICS countries: Brazil, Russia, India, China, and South Africa. It focuses on economic cooperation, development, and global issues.
 

2. What is the main agenda of the summit?

The main agenda includes discussions among BRICS leaders, BRICS-Africa Outreach, and BRICS Plus Dialogue. The major topic is the expansion of BRICS, with discussions on new member countries, such as Argentina, Saudi Arabia, UAE, and Iran.
 

 3. What is the significance of BRICS?

BRICS is a grouping of developing economies that aims to provide an alternative to the G-7 developed countries. It has produced initiatives like the New Development Bank and Contingency Reserve Arrangement. Over 40 countries are interested in joining, with 19 formally applying for membership.
 

4. What else will be discussed at the summit?

Leaders will discuss intra-BRICS trading in national currencies and various global developments. The Johannesburg Declaration will address climate change, African trade, and women's participation in peace processes. China's initiatives like the Belt and Road Initiative and Global Development Initiative will also be discussed.
 

5. Is there a plan for a "BRICS currency"?

Although discussions on intra-BRICS currency trading will take place, there is no apparent plan for a "BRICS currency" to challenge the dollar.
 

6. What is India's stance on some initiatives?

India's stance on certain initiatives, like China's Belt and Road Initiative and the Global Development Initiative, will be closely observed. India had previously declined to sign an Economy Roadmap at the SCO meeting for similar reasons.
 

7. What is the significance of inviting nations from the Global South?

 
Inviting nations from Asia, South America, and small Island States indicates BRICS' effort to strengthen cooperation with developing nations on economic issues.
 

8. Are new members expected to be inducted?

There is an expectation of discussing and making decisions on inducting new member countries, as suggested by India's conversation with the Iranian President.
 

9. What is the theme of South Africa for this year's summit?

South Africa's theme is "BRICS and Africa: Partnership for Mutually Accelerated Growth, Sustainable Development, and Inclusive Multilateralism." It focuses on various priority areas, including climate change, African trade, and women's participation in peace processes.
 

BRICS Summit 2023 - Global Development Initiative

The BRICS Summit 2023 includes discussions on the Global Development Initiative (GDI), a key initiative proposed by China, the largest economy in the BRICS grouping. The GDI is part of an economic roadmap for BRICS countries. While specific details are yet to be revealed, the GDI is expected to focus on enhancing economic cooperation and development among BRICS nations. As part of the summit discussions, leaders will consider China's GDI proposal and its potential impact on fostering mutual growth, sustainable development, and economic inclusivity within the BRICS framework. The GDI aligns with the broader objectives of BRICS to provide an alternative to the established global economic order and promote collaboration among emerging economies.


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