BRICS Summit Day One Recap: Deepening Ties and Collaboration to Speed Rise of Multipolar World Order

The XVI BRICS Summit kicked off in Kazan, Russia on Tuesday. Here are the main events from the first day of this major international gathering.

The first day of the BRICS summit in Kazan will be remembered for the arrival of global leaders, and President Putin’s high-level meetings with several of them.

Meeting With “Dear Friend”

Yesterday before the summit’s formal kickoff, Putin welcomed UAE President Mohammed bin Zayed Al Nahyan in the Kremlin, where they reaffirmed the “historical and strategic” nature of their relationship. Today, he held discussions with Chinese President Xi Jinping.

The cooperation between Moscow and Beijing is at its peak, with both leaders consistently referring to each other as “dear friends” in their talks.

Strengthening Russia-China Relations

Putin stressed that the multi-faceted cooperation between Russia and China is based on equality, is mutually beneficial and free from opportunism, serving as a model in today’s world. Both countries are successfully implementing joint projects in energy, industry, high technology, transport and agriculture.

Notably, despite negative external factors, trade turnover increased by 4.5 percent from January to August, maintaining its positive upward trend. Putin highlighted that Moscow and Beijing’s collaboration on international issues acts as a stabilizing factor on the global stage.

“We intend to continue enhancing coordination on all multilateral platforms to ensure global security and a just world order,” he asserted.

Dialogue With India

Putin also met with Indian Prime Minister Narendra Modi, emphasizing that Russian-Indian relations represent a “particularly privileged strategic partnership” that continues to actively evolve.

Putin and Modi’s discussions focused on legislative cooperation, growing trade and major projects, including India’s decision to open a consulate in Kazan.

Prime Minister Modi reiterated the importance of resolving the ongoing conflict between Russia and Ukraine through peaceful means, expressing India’s commitment to establishing stability.

Solidarity With South Africa

The relationship with South Africa remains strong, with President Cyril Ramaphosa noting in talks with the Russian leader on Tuesday that trade has begun to grow again, increasing by three percent from January to August.

Putin acknowledged the need for collaborative work in further enhancing and diversifying trade and investments, particularly in energy, industry, agriculture, science and innovation.

The two nations expressed readiness to coordinate efforts on the international stage to establish a fair multipolar world order. Ramaphosa expressed gratitude for Russia’s support dating back to South Africa’s anti-Apartheid struggle.

Advancements in the New Development Bank

Meeting with Dilma Rousseff, the head of BRICS’ New Development Ban (NDB), Putin commended her leadership of the institution, which has financed around 100 projects totaling $33 billion dollars since its inception.

Putin remarked that increasing transactions in local currencies would lower debt servicing costs, enhance the financial independence of BRICS nations and reduce geopolitical risks.

Rousseff emphasized the Global South’s urgent need for funding and the importance of providing assistance in national currencies, a principle the NDB adheres to.