In News:

China hosted The 14th BRICS Summit in virtual format.

Discussions covered areas of intra-BRICS cooperation such as:

Counter-terrorism, trade, health, traditional medicine, environment, S&T and innovation, agriculture, technical and vocational education & training, and MSMEs.

Theme of BRICS Summit

"Foster High-quality BRICS Partnership, Usher in a New Era for Global Development”

Strengthening and Reforming Global Governance

  • The summit held a high-level dialogue on global development. 
  • This is a testament to the open and comprehensive nature of the BRICS partnership, including the BRICS Outreach / BRICS Plus collaboration. 
  • It reaffirmed its commitment to multilateralism by supporting international law. 
  • Participating heads of states endorsed the BRICS Joint Declaration on Strengthening and Reforming the Multilateral System.  
  • It was adopted by the BRICS Foreign Ministers in 2021. The Joint Statement emphasized the following principles: 
  • Make global governance measures more comprehensive, representative and participatory 
  • Based on comprehensive consultation and collaboration for the benefit of all 
  • Strengthen the response of multilateral organizations. With respect to the WTO, the statement emphasized the fact that the Appellate Body crisis should be resolved without further delay and should not be associated with other issues. 
  • It upheld the BRICS statement on strengthening the multilateral trading system and reforming the WTO.

Commitment to maintaining a strong and effective Global Financial Safety Net

  • The members reaffirmed their commitment towards maintaining a strong Global Financial Safety Net. It is based on quota and has an adequately resourced IMF at its center.

Working in Solidarity to Combat COVID-19

  • It supported WHO's leadership in the fight against pandemics and acknowledged initiatives such as  COVAX and  ACT-A.  
  • COVAX is the vaccine pillar of the Access to COVID-19 Tool (ACT) accelerator. ACT Accelerator (ACT-A) is a pioneering global collaboration to accelerate COVID-19 testing, treatment, vaccine development, manufacturing and equitable access. COVAX is co-led by the Coalition for Epidemic Infectious Diseases Innovation (CEPI), Gavi, the World Health Organization (WHO), and its leading supply partner, UNICEF.  
  • WHO has several roles within COVAX. It provides normative guidance on vaccine policy, regulation, safety, R & D, allocation, and national preparation and delivery. 
  • It welcomed the  BRICS High Level Forum on Traditional Medicine. This statement welcomed the virtual launch of the BRICS Vaccine Research and Development Center. 
  • It praised "an initiative to strengthen vaccination cooperation and build a line of defense against pandemics together." 
  • It emphasized the urgent need to establish a BRICS integrated early warning system to prevent the risk of outbreaks.

Safeguarding Peace and Security

  • It welcomed the BRICS Joint Statement on "Strengthening BRICS Solidarity and Cooperation to Address New Features and Challenges in International Situation." 
  •  It was adopted by the BRICS Foreign Ministers in May 2022. 
  •  It supported  peaceful, safe and stable Afghanistan, emphasizing  its sovereignty, independence, territorial integrity, national unity, and respect for non-interference with domestic affairs. 
  • It encouraged Afghan authorities to bring about national reconciliation and build a broad, comprehensive and representative political structure. 
  • It emphasized that Afghanistan's territory should not  be used to intimidate or attack any country, to contain or train terrorists

On Ukraine

  • The declaration expressed concern about the situation of humanitarian crisis in Ukraine and supported talks between Russia and Ukraine.

Promoting Economic Recovery

  • It emphasized the importance of continuing to implement the  BRICS Economic Partnership Strategy 2025 in all relevant ministerial tracks and working groups. 
  •  The statement said China is hosting a "Buy BRICS" online promotional event. It further endorsed: 
  • BRICS Digital Economy Partnership Framework, 
  • With the BRICS Initiative on Trade and Investment for Sustainable Development  
  • BRICS initiative to improve collaboration in the supply chain. 
  •  It welcomed the establishment of the "Digital Economy" Working Group by upgrading the "E-Commerce" Working Group. 
  • Agreed to promote consumer protection in e-commerce by facilitating the implementation of the BRICS framework for consumer protection in e-commerce.

New Development Bank (NDB)

  • This declaration congratulated NDB on moving to its permanent headquarters in Shanghai and opening an NDB regional office in India. 
  •  It upheld NDB's goal of achieving the highest possible credit rating and institutional development.

BRICS Think Tank Network for Finance

  • It welcomed the new decision to establish the BRICS Think Tank Network for Finance.
  • The network will provide intellectual support for knowledge sharing, exchange of experiences and practices and thus mutual cooperation on issues related to finances amongst BRICS countries.

Energy security

  • It focussed on the role of energy security in achieving sustainable development goals.
  • On that note, it welcomed the BRICS Energy Report 2022, and commended the BRICS Youth Energy Summit and other related activities.

Expediting Implementation of the 2030 Agenda for Sustainable Development

  • It pointed out that the COVID-19 pandemic disrupted efforts to reach the 2030 Agenda for Sustainable Development and reversed long-standing progress. 
  • It reaffirmed her commitment to implement the 2030 Agenda  in a balanced and integrated way in all three aspects of economics, society and the environment. 
  • Members reject green trade barriers and repeat their commitment to better coordination on these issues. 
  • Members emphasised their commitment to promote agricultural cooperation, as the BRICS countries produce about one-third of the world's food. In this regard, it reiterated the importance of implementing the 2021-2024 Action Plan  for agricultural cooperation in the BRICS countries. 
  • It also welcomed the  BRICS countries' food security cooperation strategies. 
  • It praised his proposal to organize the BRICS High Level Forum on Sustainable Development.

Technological cooperation

  • Focusing on the BRICS Forum on Big Data for Sustainable Development, members agreed information exchange and technical cooperation in the field of AI technology. 
  •  It asked members to do comparative research to develop a common governance approach to guide BRICS members to use AI ethically and responsibly while facilitating the development of AI. 
  •  It welcomed the establishment of the BRICS Joint Committee on Space Cooperation. This was in line with the agreement on cooperation on the BRICS constellation of remote sensing satellites. 

Deepening People-to-People Exchanges

  • It welcomed the signing of the Action Plan (2022-2026) for the implementation of the BRICS Intergovernmental Agreement on Cultural Cooperation. 
  • It encouraged the BRICS countries to promote the development of digitalization in the cultural sector. 
  • It acknowledged the fact that the start of the BRICS Skill Competetion will strengthen exchanges and cooperation between nations. 
  • It promised to strengthen cooperation with the  BRICS Network University and the BRICS University League.