The closing session of the BRICS Summit Business Forum was addressed by the leaders of India, Russia, South Africa and Brazil, with Chinese President Xi Jinping being represented by a delegate. The heads of state stressed that reducing reliance on the US dollar was necessary.
The BRICS countries have agreed on the key principles for the expansion of the group, media reported on Wednesday, citing South African Foreign Minister Naledi Pandor.
The BRICS countries have adopted a document on the expansion issue, and a detailed statement will be made by the leaders of the five countries after the end of the summit, the minister said.
On Wednesday, the leaders of the economic bloc addressed the summit's participants. Furthermore, several bilateral gatherings took place. For instance, Indian Prime Minister Narendra Modi held a bilateral meeting with South African President Cyril Ramaphosa.
The BRICS summit is definitely one of this year's significant events. Delegations from dozens of countries and international organizations, including UN Secretary-General Antonio Guterres and African Union chief Moussa Faki Mahamat, are invited to the summit.
The main topic of the leader’s meeting is expected to be BRICS’ possible expansion. Over 20 countries have expressed their interest in obtaining membership. Furthermore, economic relations, de-dollarization and other issues are on the agenda.
South African President Cyril Ramaphosa, Brazilian President Luiz Inacio Lula da Silva, Chinese President Xi Jinping, and Indian Prime Minister Narendra Modi present at the summit in-person, while Russian President Vladimir Putin is attending via video link. Russia's delegation in Johannesburg is being led by Foreign Minister Sergey Lavrov.
De-dollarization Among BRICS Nations Irreversible
Russian President Vladimir Putin said on Tuesday that the ongoing trend of de-dollarization among BRICS countries was an “irreversible trend”.
"Mutual investments among BRICS states have increased six fold and their total exports have reached 20 percent of global exports. For Russia, the trade volume with BRICS partners has increased and grown by 35.6 percent in the first half of this year," the Russian leader told the closing session of the BRICS Business Forum during his address.
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