India’s 18th BRICS Summit focuses on trade, technology and Global South cooperation
The 18th BRICS Summit in India is placing economic cooperation, technology and financial reform at the centre of the expanded grouping’s Global South agenda.
The 18th BRICS Summit took place in New Delhi, India from September 12-13, marking the 20th anniversary of the BRICS cooperation mechanism. BRICS member countries, associate members, and multilateral organizations gathered to discuss trade, technology, and cooperation among the Global South. President Xi Jinping emphasized the importance of Greater BRICS economic cooperation to foster development in the bloc and greater economic cooperation in the international arena.
The concept of Greater BRICS aims to stabilize supply chains, foster integrated markets, and increase the voice of emerging economies in international governance. The summit identified AI and technology as key growth drivers for developing countries, with China proposing the establishment of a BRICS AI Open Source Zone to promote cooperation on large language models and AI training.
The two largest BRICS countries, China and India, expressed commitment to resolving their boundary dispute and enhancing financial cooperation. South Africa used the summit to advocate for expanded intra-BRICS trade and investment, industrialization, and mobilization of investment in African infrastructure aligned with the AfCFTA.
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