President Erdoğan to Attend 16th BRICS Leaders Summit
BRICS Summit to Focus on Economic Solidarity and Trade Opportunities
The BRICS group, consisting of Brazil, Russia, India, China, and South Africa, is gearing up for its 16th Leaders Summit which will be held in Kazan, the capital of Tatarstan, on 22-24 October. One of the key goals of the summit is to promote economic solidarity among member countries and to explore opportunities for trade using local currencies.
President Erdogan of Turkey is set to attend the summit, signaling Turkey’s growing interest in the organization. In addition to discussions on expanding the union, topics such as finance, technology, and food trade will be on the agenda.
Founded in 2010, the BRICS group has expanded its sphere of influence over the years. With the addition of countries such as Egypt, Ethiopia, Iran, Saudi Arabia, and the United Arab Emirates, the organization now comprises 10 members representing approximately 3.5 billion people, accounting for 45% of the world’s population.
BRICS countries collectively contribute around 25% of the world economy and produce 44% of the world’s crude oil. As a geopolitical rival of the G7, which is composed of Western powers, BRICS represents developing countries in the transition to a multipolar order.
The upcoming BRICS Summit is expected to strengthen economic ties among member countries and pave the way for increased cooperation in various sectors. Stay tuned for updates on the outcomes of the summit as leaders gather to shape the future of global economic order.
