Kazan Declaration adopted at BRICS Summit: UAE stresses collective action to address global challenges

The 16th BRICS Summit – hosted in Kazan from October 22 – 24 – achieved a significant milestone today as all member countries approved the Kazan Declaration – a comprehensive document reflecting the members’ collective vision and objectives.

Russian President Vladimir Putin announced that the key declaration is going to be distributed to the UN as a major expression of global multipolarity. The Summit is being held under the theme: “Strengthening Multilateralism for Just Global Development and Security.”

Kazan Declaration adopted at 16th BRICS Summit in Russia

In the comprehensive document, the leaders of BRICS countries reiterated the “importance of further enhancing BRICS solidarity and cooperation based on our mutual interests and key priorities and further strengthening our strategic partnership.”

The leaders of BRICS members expressed their commitment to the spirit of mutual respect and understanding, sovereign equality, collaboration, inclusiveness, openness, democracy, solidarity, and consensus, according to the Kazan Declaration.

The member countries seek to strengthen cooperation under the three pillars of political and security, economic and financial, cultural and people-to-people cooperation. They stressed the need for sustainable development and a reformed multilateral system.

BRICS grain exchange: Putin notes at Kazan Summit

The expanded BRICS grouping accounts for 37% of global economic output. During the Summit in Kazan, the Russian President proposed the creation of a BRICS grain exchange that could related be expanded to trade other major commodities such as oil and metals.

BRICS countries are among the largest producers of grains, legumes and oilseeds, Putin told the leaders attending the key event. The exchange is expected to keep the member countries and other nations in the Global South safe from extreme price fluctuations.

The implementation of this initiative is going to help protect national markets from negative interference, speculation and attempts to create an artificial food shortage, he added. Other nations also pushed for the creation of a common cross-border payments system.

UAE attends BRICS Summit for first time as member

Uae President HH Sheikh Mohamed bin Zayed is in Kazan for the 16th BRICS Summit. It is Uae’s first participation in the annual event as a member of the organisation. Through its BRICS membership, the country seeks to create a better future for all.

In a post on X, His Highness noted that the Uae supports multilateral cooperation that fosters peace and development, and strengthens collective action to address global challenges. The country is looking to ensure a more stable and prosperous future for all.

Earlier during the visit, the Uae leader and Russian President Putin held bilateral discussions in the capital. During the talks, His Highness emphasised that the Uae-Russia bilateral relations are of a historical and strategic nature.

The Emirati leader noted his country’s readiness to make every effort to push the Uae-Russia bilateral trade figures higher. This number exceeded $100 billion last year. His Highness is also interested in facilitating more Russia-Ukraine prisoner exchanges.