Xi pushes ‘Greater BRICS’ economic ties

Chinese President Xi Jinping announced plans to strengthen "Greater BRICS" cooperation during the annual summit in New Delhi. This expansion of the original BRICS grouping, which was formed by Brazil, Russia, India, China and South Africa, now includes Iran, Indonesia, Egypt, Ethiopia and the United Arab Emirates. The objective is to create a practical platform for development in the Global South.

Xi emphasized the importance of cooperation in politics, security, economics and finance, as well as the need to maintain stability in industrial and supply chains and to build an integrated market. China will take the lead in establishing the BRICS AI Open Source Zone to promote cooperation on large language models, AI training and an open AI ecosystem.

Additionally, a BRICS Special Economic Zone partnership and a BRICS Service Trade Forum are planned for next year to boost trade and investment ties. Indian Prime Minister Narendra Modi stressed the need to make BRICS solutions adaptable and accessible for the Global South. Russian President Vladimir Putin called BRICS a powerful force for creating a new, fairer and multipolar world order.

The summit achieved consensus on a joint declaration expressing concern over Middle East tensions and urging restraint. Iranian President Masoud Pezeshkian met the Crown Prince of Abu Dhabi, discussing de-escalation, stability and regional peace and development.