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Summit was hosted by the Russia at Kazan.
- Kazan Declaration is a comprehensive document outlining key areas of cooperation and the bloc's unified stance on global issues.
- Theme of Summit: Strengthening Multilateralism for Just Global Development and Security
Key Highlights of the Declaration
- Global Governance and Multilateralism
- Made a commitment to cooperate for International Financial Architecture Reform.
- Economic Cooperation
- BRICS Cross-Border Payment System: Built upon the principle of minimizing trade barriers and non-discriminatory access. Promoting use of local currencies.
- BRICS Clear Depositary: An independent cross-border settlement and depositary infrastructure.
- BRICS Interbank Cooperation Mechanism (ICM): Facilitating and expanding innovative financial practices and approaches for projects and programmes, including finding acceptable mechanisms of financing in local currencies.
- BRICS Grain Exchange: Initiative of the Russian side to establish a grain (commodities) trading platform within BRICS.
- Other
- BRICS R&D Vaccine Center & BRICS Integrated Early Warning System for preventing mass infectious diseases risks.
- Recognised India’s initiative to create an International Big Cats Alliance.
- BRICS Partner Country: Endorsed the creation of a BRICS Partner Country category (not full members). Officially added 13 new partner countries, including Cuba, Turkey,and Vietnam.
About BRICS
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