The leaders of the emerging economies that form the BRICS countries are coming together in Kazan, the capital of the Republic of Tatarstan, which is under the Russian Federation. The summit is expected to be attended by representatives from over 30 countries. The expansion of the union, “de-dollarization” in trade, and regional conflicts will be the main agenda of the meetings. President Erdogan is expected to meet with his Russian counterpart Putin at the summit tomorrow. Kazan, the capital of the Republic of Tatarstan under Russia, is hosting world leaders today for the 16th BRICS Summit.
This year’s leaders’ summit is particularly significant as it is the first time the expanded version of BRICS, under Russia’s presidency until 2024, is being held amid continued Western attempts to isolate Russia. BRICS (Brazil, Russia, India, China, and South Africa) aims to provide an alternative to the economic unity of the West.
President Recep Tayyip Erdogan is expected to attend the summit. Erdogan is expected to meet with Russian President Vladimir Putin on the second day of the summit tomorrow.
Chinese President Xi Jinping is among the leaders set to attend the summit at Putin’s invitation. Located on the banks of the Volga River, Kazan is also one of Russia’s major centers for politics, science, education, culture, and sports.
This summit holds the distinction of being the first to take place after the expansion of BRICS in January to include Iran, Egypt, Ethiopia, Saudi Arabia, and the United Arab Emirates. The current total gross domestic product of the ten-member BRICS organization accounts for approximately one-third of the global total.
While their populations make up nearly half of the world’s total, their trade represents one-fifth of the global total.