TeleSUR special envoy Yunus Soner reports from Kazan, Russia, as 2nd day of the 2024 BRICS Summit draws to a close. teleSUR
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00:00The BRICS Summit in Kazan, Russia, continued with the meeting of the Presidents and the
00:05announcement of a final declaration.
00:07Experts observed that the Alliance makes important progress.
00:10Representatives of the Global South voiced hope.
00:13Details from our Special Envoy Yunus Soner in Kazan.
00:18The second day of the 16th Summit of the BRICS Alliance here in Kazan, Russia, started with
00:24a meeting of the Presidents of the Alliance.
00:28The first speech, the opening speech, was held by Russian President Vladimir Putin,
00:33who emphasised, among other topics, institutional issues of the Alliance itself.
00:59Previously, the Alliance appeared to be a forum of debate, but this has changed now,
01:05argues Sergei Slankovich.
01:28After their expanded meeting, the leaders agreed on a final declaration that promises
01:42to further promote BRICS institutional development.
01:46This parallels financial integration between members.
02:19Inter-bank cooperation mechanism, cross-border payment initiative, cross-border settlement
02:42and depositing infrastructure, the list of measures in the declaration to fight sanctions
02:48and circumvent the dollar is long.
02:51Observers are impressed.
02:52We have a new world, who is rising, and this new world will become the world for the multilateralism
03:04because we need some change, if we want peace, if we want no conflict, and we have some instruments
03:13to finance our development and BRIC pay and some changement, BRICS has come in, is very
03:23good for our country.
03:26The final resolution and the statements of the Presidents taken together, BRICS has made
03:31a leap forward, especially in institutionalisation and in achieving financial system that is
03:39beyond Western control.
03:46The enlargement of the BRICS can contribute to the economic strengthening of the group
03:50vis-à-vis other international blocs, becoming an alternative for the construction of a new
03:54world order.
03:55The multilateral bloc expanded its cooperation capabilities in 2024 by including Iran, Saudi
04:02Arabia, Egypt, Ethiopia and the United Arab Emirates as new member states, positioning
04:08this group as a powerhouse on the global economic, social and political scene.
04:14The BRICS reached a combined population of 3.5 billion people, representing 45% of the
04:20world's population.
04:21The bloc's economy dominates more than 35% of the world's gross domestic product, surpassing
04:26in economic terms the group of 7G7.
04:30In terms of oil, the association currently produces more than 43 million barrels per
04:34day, which represents 44% of global crude oil production.
04:39The new BRICS Development Bank, as a multilateral financial powerhouse, reached an authorised
04:44capital of $100 billion, consolidating itself as an alternative to conventional Western-controlled
04:49financial institutions.
04:51With at least 40 states interested in joining this bloc, the BRICS are expanding their multilateral
04:56cooperation to address the world order dominated by the ambitions of the West and promote the
05:01economic and commercial inclusion of the countries of the Global South.