14th Annual BRICS Summit

by Stephen Lendman

At their 14th (June 22 - 24) summit — hosted virtually by video link from Beijing — BRICS nations include Brazil, Russia, India, China and South Africa.

Accounting for about 30% of global territory, over 40% of the world's population, one-fourth of its GDP, about one-third of its food production, and nearly 20% of world trade, these nations continue to grow in importance on the world stage — in stark contrast to the decadent, declining West.

This year's summit promotes the following theme:

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

A declaration stressed by their leaders called for continuing to uphold "the BRICS spirit (of) mutual respect and understanding, equality, solidarity, openness, inclusiveness, and consensus," adding:

"We reiterate the importance of further enhancing BRICS solidarity and cooperation based on our common interests and key priorities, to further strengthen our strategic partnership."

"We reiterate our commitment to multilateralism through upholding international law, including the (letter and spirit of the UN Charter) as (an) indispensable cornerstone (for) nations to cooperate (for) peace…security, (and) advance(ment of) sustainable development" (while respecting) human rights and fundamental freedoms for all…"

Leaders of BRICS nations also expressed support for "a world free (from the threat of nuclear weapons through) disarmament" — affirming that "nuclear war cannot be won and must never be fought." 

Summits of BRICS leaders have come a long way from their first June 2009 one in Yekaterinburg, Russia.

At that time, the alliance's mission stressed the development of an active, pragmatic, open cooperative dialogue among its member states. 

From inception to currently, the BRICS alliance does not have a secretariat or charter. 

Its rotating presidency is held by the host country.

Along with annual summits, alliance ministers of finance, health, education, science and agriculture meet regularly to discuss issues of mutual interest.

Civil, parliamentary, youth and media forums are held.

Business and financial institutions of alliance members include the Alliance of Exchanges, Business Council, and the Council of Expert Centers. 

In July 2014, the BRICS New Development Bank (NDB) was established.

Headquartered in Shanghai, its mission is to finance infrastructure and sustainable development projects in BRICS states and developing countries. 

From inception, it initiated 78 projects — over $29 billion spent on them.

At this time, work is underway to transition BRICS countries to mutual settlements in their national currencies, along with creating a Bond Fund in them. 

At the 13th BRICS summit last year, Vladimir Putin said efforts were underway to establish an international reserve currency — based on a basket of currencies of alliance member states — to exclude dollar and euro transactions.

Among other benefits, an alliance currency would help protect against US/Western sanctions.

In November 2020, a BRICS counter-terrorism strategy was adopted.

Last August, heads of BRICS space agencies signed an agreement to exchange earth remote sensing data.

By video link on Thursday, Vladimir Putin said the following at this year's BRICS summit:

Alliance member states "have immense political, economic, scientific, technical and human potential."

"We have everything we need to work together and achieve results for ensuring global stability and security, sustained growth and prosperity, and better well-being for our people."

Challenges in dealing with vital issues are best handled by mutual cooperation among nations over confrontation — the latter way how hegemon USA-dominated Western regimes operate.

"Russia is ready to continue promoting close and versatile interaction with all BRICS partners (by) contributing to the group's greater role in international affairs," Putin stressed.

The same policy applies to the world community of nations overall, according to the rule of law — by Russia and other BRICS nations, respecting the sovereignty and territorial integrity of all countries.

Their way is polar opposite how the empire of lies and its Western vassals operate on the world stage — prioritizing dominance, shunning mutual cooperation among nation-states, smashing nonbelievers by forever wars over peace, stability, equity and justice.