Why is BRICS increasingly appealing?

Editor's note: CGTN's First Voice provides instant commentary on breaking stories. The column clarifies emerging issues and better defines the news agenda, offering a Chinese perspective on the latest global events.

In his speech at the BRICS summit in Kazan, Russia on Wednesday, Chinese President Xi Jinping stressed China's willingness to leverage its advantage to expand cooperation with BRICS countries.

Xi also announced the decision to invite many countries to become partner countries, which is another major progress in the development of BRICS.

Xi's speech – made at the first face-to-face gathering since the group's expansion from five members to 10 in January – has drawn a blueprint for the development of the mechanism, injected new impetus into a multipolar world, strengthened solidarity within the Global South, and facilitated cooperation among nations, large and small, across the world.

Multi-win cooperation

As the world is grappling with geopolitical tensions, financial instability, climate change and other global challenges, cooperation is the only way out.

Over the past 18 years, China has been committed to deepening mutually beneficial cooperation among BRICS partners. Xi's Wednesday speech has further demonstrated China's determination for greater BRICS cooperation.

Greater BRICS cooperation means the optimization of resource allocation and development opportunities.

The Shanghai-headquartered New Development Bank (NDB), for instance, has been dedicated to mobilizing financial resources for infrastructure and sustainable development projects in developing countries. By the end of 2023, the NDB has approved 105 projects in members states for approximately $35 billion, according to official statistics.

On Wednesday, Xi further called for strengthening the NDB and urged BRICS countries to take the lead in promoting a better alignment of the international financial system with the changing dynamics of the global economy.

The China-BRICS AI Development and Cooperation Center and the China-BRICS Science and Innovation Incubation Park have also turned out to be effective cooperation mechanisms for members to share development opportunities in aerospace, biotechnology, AI and other cutting-edge fields.

Since 2023, the BRICS Partnership on New Industrial Revolution Innovation Center, established in China's Xiamen, has held over 10 offline training courses, attracting more than 100 participants from over 70 countries.

In his speech, Xi pledged to establish 10 overseas learning centers in BRICS countries to provide training opportunities for 1,000 education administrators, teachers and students.

"The BRICS cooperation mechanism plays a prominent role in enhancing the representation and influence of the developing countries in international affairs and enhancing the improvement of global governance, which is also one of the priorities of the UAE," Xinhua quoted Ahmed Al-Ali, political and strategic researcher of Gulf Research Center in Dubai, as saying.

A view of the Kazan Kremlin in Kazan, Russia, October 20, 2024. [Photo/Xinhua]

Openness and inclusiveness

From "BRICS Plus" in 2017 to its expansion in 2024, BRICS has been upholding the spirit of openness, inclusiveness and win-win cooperation. 

At this stage, the combined GDP of BRICS countries accounts for around 30 percent of the global total, with the BRICS population representing nearly half of the world's total, and trade making up one-fifth of global trade, according to official data.

Moreover, the economic output of Greater BRICS, calculated by purchasing power parity, has already surpassed that of the G7, according to a report from the Carnegie Endowment for International Peace.

An increasing number of developing countries seeking an alternative to a U.S.-dominated world order are turning to BRICS for their overlooked development rights. Apart from the countries that officially joined the bloc in January, over 30 countries including Malaysia, Thailand and Azerbaijan have either expressed interest or have formally applied for BRICS membership.

"The enlargement of BRICS is a major milestone in its history, and a landmark event in the evolution of the international situation," Xi said in his Wednesday speech, calling for building a BRICS for justice and leading the reform of the global governance system.

"BRICS, being perceived as a leading voice of emerging markets and developing countries, has become an indispensable part of the current geopolitical landscape, providing a powerful tool for building a more fair, just, and multipolar world order," said Surasit Thanadtang, director of the Thai-Chinese Strategic Research Center under the National Research Council of Thailand.

True, BRICS countries are non-Western, but this does not mean the group is anti-West.

Since its establishment, BRICS member states have been committed to upholding multilateralism and advocating for just global governance that enhances the voice of developing nations. These are reasonable needs of Global South countries.

Xi's speech on Wednesday has further demonstrated China's determination for greater BRICS cooperation and a multilateral world order where voices of all players can be equally heard and represented.