BRICS Leaders Agree on Joint Declaration Ahead of New Delhi Summit

The BRICS group of emerging economies has agreed on a joint declaration ahead of its summit in New Delhi, according to sources cited by Reuters, in a move aimed at strengthening the bloc’s influence on the global stage.

The agreement comes as BRICS leaders seek to bridge differences between members Iran and the United Arab Emirates over the ongoing conflict in the Gulf. The summit is taking place as the United States and Iran continue tit-for-tat strikes in their six-month-old war.

Foreign policy experts had identified the Middle East crisis as a key test for BRICS, particularly whether the group could agree on language acceptable to both Tehran and Abu Dhabi and clear the way for a joint statement.

Although the declaration is unlikely to have an immediate impact on the current geopolitical situation, analysts say it could demonstrate unity among emerging economies and opposition to economically damaging measures such as Western sanctions.

BRICS foreign ministers meeting in New Delhi in May failed to issue a joint statement due to differences between Iran and the UAE.

BRICS Seeks Greater Global Influence

The BRICS bloc is seeking to expand its influence over international affairs by pushing for reforms to major global institutions, including the World Bank, International Monetary Fund (IMF) and World Trade Organization (WTO), which some members believe are dominated by Western powers.

Leaders attending the summit include Russian President Vladimir Putin, Chinese President Xi Jinping, Iranian President Masoud Pezeshkian, South African President Cyril Ramaphosa and Abu Dhabi Crown Prince Sheikh Khaled bin Mohamed bin Zayed Al Nahyan, among others.

India, which maintains strong relations with the United States, Russia, Israel, Iran and the Gulf Arab states, is attempting to balance its relationships while promoting greater trade cooperation among BRICS members.

Prime Minister Narendra Modi is also pushing for reduced trade barriers and expanded business opportunities within the bloc.

However, resolving the differences between Iran and the UAE and securing consensus on a summit declaration have remained key priorities for BRICS diplomats and officials.

The UAE, which has been targeted by Iranian missile strikes since the war began, suspended all trade and financial transactions with Iran in August.

BRICS currently comprises Brazil, Russia, India, China, South Africa, Egypt, Ethiopia, Indonesia, Iran and the United Arab Emirates.

Established in 2009, the group was created to challenge a global order dominated by the United States and its Western allies. Collectively, its members represent more than 40% of the world’s population and account for nearly one-quarter of the global economy.

Source: Reuters