Key Takeaways
- Chinese President Xi Jinping unveiled initiatives to deepen cooperation among the 'Greater Brics' countries.
- Proposals include establishing an AI open source zone and hosting a Brics service trade forum.
- The summit in New Delhi aimed to enhance economic ties and stability in the Global South.
Chinese President Xi Jinping has unveiled a series of initiatives aimed at deepening cooperation among the 'Greater Brics' countries, a grouping that includes China, Russia, India, Brazil, South Africa, and additional nations such as Iran, Indonesia, Egypt, Ethiopia, and the United Arab Emirates.
At the annual summit in New Delhi, Xi proposed the establishment of a Brics AI Open Source Zone to promote cooperation on large language models, AI training, and an open AI ecosystem. He also suggested a Brics Special Economic Zone partnership and announced that China would host a Brics Service Trade Forum next year to boost trade and investment ties.
The 'Greater Brics' initiative seeks to create a practical platform for Global South development, with cooperation in areas from politics and security to economics and finance. India, which holds the 2026 chair, and China, the 2027 chair, are working to lay a solid foundation for pragmatic cooperation.
Russian President Vladimir Putin and Indian Prime Minister Narendra Modi also spoke at the summit, emphasizing the importance of Brics in creating a new, fairer, and multipolar world order. Putin called Brics a powerful driving force towards achieving this goal, while Modi highlighted the benefits of solutions developed within Brics should be adaptable and accessible to the Global South.
The summit comes amid renewed fighting in the Gulf region, with tit-for-tat attacks by the United States and Iran, and the Houthis launching attacks on Saudi Arabia. Despite these tensions, the summit managed to forge a joint declaration backed by Iran and the UAE, expressing deep concern over the continued escalation of tension in the Middle East and urging the exercise of maximum restraint.
Separately, Iranian President Masoud Pezeshkian met the Crown Prince of Abu Dhabi on the sidelines, discussing issues ranging from de-escalation and stability to efforts to advance regional peace and development. This high-level meeting was the highest-level meeting between the two countries since the start of the conflict.
The summit's focus on inclusive global growth and the promotion of stability in the Global South reflects the broader goals of the 'Greater Brics' initiative. By fostering cooperation and economic ties, the bloc aims to enhance its global influence and contribute to a more equitable world order.
The success of the 'Greater Brics Initiative' depends on the ability of member countries to maintain the stability of industrial and supply chains and cultivate an integrated market. Xi Jinping emphasized the importance of pragmatic cooperation, stating that the initiatives will help lay a solid foundation for the bloc's future success.
