The BRICS leaders adopted the final declaration
The leaders of the BRICS countries plan to expand cooperation and strategic partnership, and also welcome the use of national currencies in financial transactions between the members of the association and their trading partners, according to the final declaration adopted following the BRICS summit in Kazan on 10/23/2024.
"We recognize the important role of the BRICS countries' joint work in eliminating risks and solving problems facing the global economy in order to achieve global economic recovery and sustainable development," the document says.
In addition, the leaders of the BRICS countries reaffirm their commitment to strengthen macroeconomic policy coordination, deepen economic cooperation and work to ensure a lasting, sustainable, balanced and inclusive economic recovery, and emphasize the importance of continuing the implementation of the BRICS Economic Partnership Strategy until 2025 in all relevant areas of work at the ministerial and working group levels.
In particular, the BRICS participants agreed to simplify trade procedures between states and welcomed the creation of a new investment platform that will use the infrastructure of the New Development Bank.
They decided to intensify financial cooperation against the background of geopolitical risks and explore the possibility of creating an independent cross-border settlement and depository infrastructure BRICS Clear.
They pointed out the need to reform the current international financial architecture to solve financial problems.
They supported the use of alternative currencies within the pool of foreign exchange reserves of the association.
They stated that they would increase the turnover of precious metals according to the standards of the Kimberley Process and expand the dialogue in the field of technology export control.