World leaders at Brics Summit 2024 on Wednesday, October 23rd, adopted the Kazan Declaration that laid down the future course of action the grouping strives to take and reflects its collective vision and goals.

The member countries – Brazil, Russia, India, China and South Africa – unanimously approved the comprehensive document. Since the Declaration is very extensive (32 pages with 134 points), and cannot fit into one Hive post, I will leave here a few key economic points and a link to the entire document.

⏺ The organization supports the creation of a new platform for increasing investments in the global south.

⏺ The BRICS countries are advocating the reform of the international financial architecture to solve global problems.

⏺ The organization welcomes Russia’s idea of the BRICS grain exchange and its development to include other sectors of the agro-industrial complex.

⏺ BRICS is concerned about the negative impact of illegal sanctions on the global economy.

⏺ BRICS leaders will explore the creation of an independent cross-border settlement and deposit infrastructure BRICS Clear.

⏺ BRICS countries welcome the use of national currencies in financial transactions.

⏺ The high public debt of a number of countries reduces the ability of national budgets for economic development. It is necessary to comprehensively solve the problems of global debt.

⏺ BRICS supports the improvement of the New Development Bank and the expansion of financing in national currencies.

The document is divided into five parts…

• Introduction (Pt. 1–5)

• Strengthening Multilateralism For A More Just And Democratic World Order (Pt. 6–23)

• Enhancing cooperation for global and regional stability and security (Pt. 24–56)

• Fostering Economic and Financial Cooperation for Just Global Development (Pt. 57–118)

• Strengthening people-to-people exchanges for social and economic development (Pt. 119–134)

…and it will be shared with the United Nations Security Council in a foreseeable period.

Expect at least two vetoes. The colonizers will not just allow the creation of a just world…