BRICS – a successful model of cooperation

The BRICS Summit in Kazan, Russia has become a successful model of cooperation, Iranian President Masoud Pezeshkian said at a meeting in the outreach/BRICS Plus format as part of the group’s 16th summit.

“BRICS has managed to establish itself as a successful model of cooperation and convergence among countries at both regional and international levels,” Pezeshkian said, emphasizing that building “a better world on one’s own is impossible.” Pezeshkian also called for a more balanced world order based on justice and stability, without wars, sanctions, and genocide, according to Russian TASS.

“In the near future, countries operating within a unipolar world paradigm will impose numerous restrictions on developing countries’ access to new technologies. To overcome these obstacles, we must take joint action. We will have no choice but to invest together, share experiences, and accelerate joint ventures,” Pezeschkian further added. He believes that artificial intelligence technologies will have the most serious impact on human life.

“The use of national currencies in trade transactions, new banking platforms, cryptocurrency, and the strengthening of the New Development Bank (NDB) and the Reserve Fund will create a better world for everyone,” the Iranian president said.

The 16th BRICS summit, which became the key event of the Russian Federation’s presidency in the association, is being held in Kazan from October 22 to 24. On the second day of the summit, its participants adopted the Kazan Declaration. Among the main topics of the document are the development of the association, the position on global problems, and the settlement of regional crises, including in Ukraine and the Middle East.

The BRICS group was created in 2006 by Brazil, Russia, India, and China, with South Africa joining in 2011. Egypt, Iran, the UAE, and Ethiopia joined on January 1, 2024. The Kazan summit was the first in which they participated as full members.