BRICS Summit Overview

The BRICS summit in Rio de Janeiro addressed significant global issues, focusing on terrorism, global governance reforms, and economic cooperation among the member countries.

Terrorism and the Pahalgam Attack

• The prime minister of India highlighted the Pahalgam terrorist attack as a threat to humanity, urging international sanctions against terrorism.
• BRICS leaders condemned the attack in strong terms, calling for global action against UN-designated terrorists.
• The Rio de Janeiro declaration reaffirmed commitment to combat cross-border terrorism and financing.
• Discussions included the Comprehensive Convention on International Terrorism and activities of the BRICS Counter-Terrorism Working Group.

Global Governance and UNSC Reforms

• The prime minister of India criticized the outdated structure of global institutions and emphasized the need for reforms.
• BRICS supported comprehensive reforms of the United Nations Security Council to enhance representation of developing countries.
• There was a consensus on supporting Brazil and India for a greater role in the UNSC.

Economic Cooperation and Financial Mechanisms

• BRICS focused on innovative financial practices and local currency financing via the BRICS Interbank Cooperation Mechanism.
• Discussions included the BRICS Cross-Border Payments Initiative to improve interoperability of payment systems.

International Law and Regional Conflicts

• The summit condemned unilateral coercive measures and military strikes against Iran as violations of international law.
• BRICS expressed concern over Israeli actions in Gaza and emphasized the need for humanitarian aid access.