BRICS Summit: A New Era of Global Diplomacy Emerges

With the 18th summit of BRICS to be hosted by India, this group has come to the center of global diplomacy. At present, BRICS has developed into a very strong geopolitical and economic platform. It includes major emerging economies such as Brazil, Russia, India, China and South Africa, as well as new countries such as Saudi Arabia, the United Arab Emirates (UAE), Iran, Egypt, Ethiopia and Indonesia. The forum is emerging as a solid diplomatic alternative to multilateral structures dominated by Western countries. The main agenda of this group is to restructure global economic governance, protect developing countries from the effects of Western financial sanctions and fully secure essential supply chains. At the heart of this major change are strategic steps such as energy security, trade in crude oil, control over rare earth elements, and promoting transactions in local currencies to reduce dependence on the US dollar. Let us all know about the age-old tax system (SWIFT).