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BRICS: Shaping a multipolar world for global prosperity

Shahid Hussain



Editor's note: Shahid Hussain, a special commentator on current affairs for CGTN, is the founder and CEO of the UAE-based company Green Proposition. The article reflects the author's opinions and not necessarily the views of CGTN.

As BRICS embraces new members, discussions revolved around how this expansion could further enhance the association's influence on the global stage. The BRICS Foreign Ministers' Meeting, convened in Nizhny Novgorod, Russia, from June 10 to 11, serves as a platform for participants to deliberate on various international issues and explore cooperation opportunities within the group. The agenda of the meeting, as indicated by the Russian Foreign Ministry, focuses on key topics on the international agenda and practical collaboration among BRICS nations.

Economic and geopolitical power is increasingly decentralized in a rapidly changing global landscape, and groups like BRICS cannot be overstated. With their combined influence spanning around 30 percent of the Earth's landmass, 45 percent of its population, and a remarkable 33 percent of global GDP, BRICS nations are emerging as critical players in shaping the future of international relations and global governance. As representatives convene for a pivotal meeting hosted by Russia, it's imperative to highlight the positive impact BRICS is poised to make on the world stage.

Founded on principles of mutual respect, sovereign equality, inclusiveness, consensus and strengthened collaboration, BRICS stands out as a beacon of hope in a world of shifting power dynamics. Its expanding membership, which now includes Egypt, Iran, the UAE, Saudi Arabia, and Ethiopia, further underscores its distinctiveness as a platform open to diverse economic and political systems.

The economic prowess of BRICS nations is not just a statistic but a result of their collective efforts. With a GDP surpassing the G7 countries, BRICS is a dominant player in the global economy. The growth of BRICS economies, as evidenced by data from the International Monetary Fund, is a testament to their resilience and potential to drive global growth. Initiatives like the New Development Bank (NDB), a tangible demonstration of BRICS's commitment to fostering sustainable development and infrastructure investment, further solidify its influence in global governance.

One of the defining features of BRICS cooperation is its emphasis on South-South cooperation. By fostering closer ties among developing nations, BRICS unlocks new opportunities for shared growth and development. The upcoming NDB seminar in Egypt, the first of its kind outside the founding BRICS countries, underscores the group's commitment to extending the benefits of cooperation beyond its borders. Through initiatives like these, BRICS is paving the way for a more inclusive and interconnected world.

When the world grapples with challenges ranging from climate change to geopolitical tensions, BRICS offers hope for a more inclusive and equitable world order. Russian Foreign Minister Sergey Lavrov's assertion that BRICS cooperation is open to all underscores the group's commitment to dialogue and collaboration. By championing multipolarity, BRICS nations are championing a new approach to create a more balanced distribution of power in international affairs.

The agenda of the BRICS meeting is not just a list of topics but a reflection of the group's proactive approach to global issues. From conflict resolution to enhancing the role of developing countries in global governance, BRICS nations are at the forefront of finding pragmatic solutions to complex challenges. By leveraging their collective expertise and resources, BRICS members are not only shaping their destinies but also making a substantial contribution to the cause of global peace and prosperity.

Amid the meeting in Nizhny Novgorod, Lavrov and Chinese Foreign Minister Wang Yi convened to discuss the future trajectory of the group. Both ministers expressed optimism regarding the association's growth, noting the increasing number of countries seeking cooperation with BRICS and the Shanghai Cooperation Organization (SCO).

Chinese Foreign Minister Wang Yi (L) speaks to Russian Foreign Minister Sergey Lavrov on the sidelines of the BRICS Foreign Ministers' Meeting in Nizhny Novgorod, Russia, June 10, 2024. /AP
Chinese Foreign Minister Wang Yi (L) speaks to Russian Foreign Minister Sergey Lavrov on the sidelines of the BRICS Foreign Ministers' Meeting in Nizhny Novgorod, Russia, June 10, 2024. /AP

Chinese Foreign Minister Wang Yi (L) speaks to Russian Foreign Minister Sergey Lavrov on the sidelines of the BRICS Foreign Ministers' Meeting in Nizhny Novgorod, Russia, June 10, 2024. /AP

Simultaneously, preparations are underway in Kazan, Russia, for the upcoming BRICS Games scheduled from June 12 to 23. Russian Deputy Prime Minister Dmitry Chernyshenko disclosed that an unprecedented 97 countries have confirmed their participation, with over 4,000 foreign athletes expected to compete across 27 different sports.

The BRICS Games aim to attract 5,000 participants, with a significant portion hailing from nations outside the BRICS group. The comprehensive sports program, comprising 27 disciplines, underscores the event's inclusive nature. Notably, participation extends beyond BRICS nations, with over 50 countries, including Kazakhstan, Turkey, and Mexico, joining the games. With 380 sets of awards up for grabs, the BRICS Games promise to foster camaraderie and sportsmanship on a global scale.

As representatives gather for the BRICS meeting in Russia, it's evident that the group's influence extends far beyond its member countries. With their combined economic might, commitment to multipolarity, and focus on addressing global challenges, BRICS nations are reshaping the contours of international relations. As the world navigates an uncertain future, BRICS offers a vision of cooperation and solidarity that transcends borders and fosters a more prosperous and harmonious world.

(If you want to contribute and have specific expertise, please contact us at opinions@cgtn.com. Follow @thouse_opinions on X, formerly Twitter, to discover the latest commentaries in the CGTN Opinion Section.)

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