THE 2024 BRICS Summit, held from October 22 to 24 in Kazan, Russia, is particularly significant as it marked the first gathering of BRICS countries following its expansion to include five new members: Saudi Arabia, Egypt, the United Arab Emirates (UAE), Iran and Ethiopia. Significantly, by hosting the BRICS Summit, Moscow belied the claim of western nations that Russia has been isolated. Key topics on the BRICS 2024 agenda included economic independence, de-dollarization and strengthening ties among member countries. Members discussed reducing dependence on the US dollar and increasing the use of national currencies for trade among BRICS nations and exploring alternatives to the SWIFT payment system and considering a BRICS trading currency.
The summit aimed to address the perceived dominance of Western-led institutions in global governance and pushing for reforms in international financial institutions to better represent the interests of emerging economies. Participants discussed strategies for ensuring energy security, particularly in the context of global energy market volatility¡ enhancing cultural and humanitarian cooperation among member countries, encompassing initiatives to promote cultural exchange and mutual understanding¡ strengthening political and security ties to meet common challenges.
Technology figured prominently in the 2024 BRICS Summit, focussing on Digital Infrastructure, Artificial Intelligence (AI), Cybersecurity, Technology Transfer and collaboration. BRICS members concentrated on the development of robust infrastructure to support economic growth and enhance connectivity among member nations. BRICS member states proposed to advance AI technologies. They established a joint working group on digital technology and AI to develop collaborative projects. BRICS member states also aspired to ensure digital networks security and protection against cyber threats. The goal of the conference in Kazan was to facilitate technology transfer and partnership among BRICS nations, empowering them to leverage each other’s strength and advancement in various technologies. These discussions were crucial for driving the next wave of economic growth and ensuring that BRICS countries remain competitive in the global technology landscape, which faces numerous challenges, from global warming to economic deceleration.
On the other side of the divide, the USA and its allies closely monitored BRICS, especially with its recent expansion. The Occident is cognizant of the fact that BRICS represents a significant shift in global power dynamics and is no longer awed by the unipolar status of the world, but is seeking alternatives to the western-led international order. Simultaneously, the drive towards de-dollarization and the use of local currencies for trade within BRICS is seen as a potential challenge to the dominance of the US dollar in global finance. This trend could decrease the dominance of US global economic policies.Simultaneously, numerous western analysts opine that the varied interests amongst the BRICS place impediments into becoming a cohesive geopolitical rival to the West. US National Security Advisor Jake Sullivan stated that BRICS is not considered a direct geopolitical rival due to the different interests among its members. Notably, within the US, there are varying opinions, advocating that Washington DC needs to develop a more coherent policy towards BRICS; proposing that it is imperative to understand the motivations behind BRIC’s growth and address the grievances of the Global South countries and why they feel marginalized by the current international system and are seeking alternate platforms.
BRICS’ growing economic clout poses a challenge to western dominance in global trade and finance. Moreover, the shift towards a multipolar world where power is more evenly distributed. This challenges the US-led unipolar system that has been in place since the end of the Cold War. BRICS countries are working on creating alternative financial and security institutions that could rival Western ones, such as the International Monetary Fund and NATO. This could undermine Western influence and control.
BRICS nations—particularly China and Russia—are perceived as strategic rivals to the US and allies. Their cooperation within BRICS strengthens their geopolitical positions and can counter Western policies and interests. BRICS nations are offering an alternative to Western-led development models and partnerships. From Islamabad’s point of view, since Pakistan has expressed interest in joining BRICS, observing the proceedings and outcomes of the summit in Kazan, provided valuable insights into the benefits and challenges of BRICS membership. The BRICS Summit 2024 offered Pakistan a chance to explore new economic and strategic opportunities, aligned with emerging global trends.
The expansion of BRICS to include new members opened up new avenues for economic cooperation. Pakistan can benefit from enhanced trade relations and economic partnerships with these countries. The summit’s focus on reducing dependence on western financial systems and promoting economic independence is in consonance with Pakistan’s aspirations of diversifying its economic alliances and reducing dependence on its erstwhile alliances with the West. Since one of the goals of BRICS is challenging Western dominance in global governance, Pakistan can leverage its relationships with BRICS member states to empower its geopolitical stance and enhance support for itself in the international arena. The emphasis of BRICS on technology, digital infrastructure and cybersecurity offers prospects for Pakistan to work in coordination with the BRICS members and gain insight into their technological advancement and innovation.
However, it must be remembered that in order to be credible in the world order, Pakistan must clean the Aegean’s Stable of its domestic politics. Economic decay, overdependence on international loans, high level of corruption, increased terror attacks, energy shortage and political delinquency degrade Pakistan’s standing in the comity of nations. No wonder that Pakistan’s hopes of entering the BRICS organization, despite support from Russia and China, Pakistan’s hope for achieving BRICS membership in the 2024 Summit were dashed because India—a founding member—blocked Pakistan’s listing as a partner country in the expansion process.
Meanwhile, UN High Commissioner for Human Rights Volker Turk raised concerns over the recently enacted 26th Amendment to the Constitution, which followed intense political controversy and debate. Simultaneously, 60 members of Congress wrote to President Joe Biden, urging his intervention stating that the Pakistani parliamentary elections saw a historic level of irregularities, while Pakistan’s current system amounts to ‘military rule with civilian façade. Thus, Islamabad needs to set its own house in order to become relevant.
—The writer, Retired Group Captain of PAF, is author of several books on China.
(sultanm.hali@gmail.com)
