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Kazan Declaration
October 28 , 2024
17 hrs 0 min
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- The 16th BRICS Summit concluded with the adoption of the Kazan Declaration.
- It is a comprehensive document outlining key areas of cooperation and the bloc's unified stance on global issues.
- The theme of the Declaration is "Strengthening Multilateralism for Just Global Development and Security".
- The declaration emphasises the need for peaceful resolution through diplomacy.
- The summit underscored the importance of the G20 in global decision-making.
- The BRICS nations has reiterated their pledge to improve global governance by advocating for a more agile, responsive, and representative multilateral system.
- BRICS Interbank Cooperation Mechanism (ICM) is focussing on facilitating and expanding innovative financial practices.
- The declaration has welcomed the use of local currencies in BRICS financial transactions and supported the exploration of an independent cross-border settlement infrastructure.
- Establishing a BRICS Grain Exchange and studying the feasibility of a BRICS Cross-Border Payment System and BRICS (Re)Insurance Company.
- India’s initiative to create an International Big Cats Alliance received recognition.
- It supports the initiatives of the BRICS R&D Vaccine Center, further development of the BRICS Integrated Early Warning System for preventing mass infectious diseases risks and the operations of the BRICS TB Research Network.
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