The 16th BRICS Leaders’ Meeting took place from October 22 to 24 in Kazan, Russia. Against the backdrop of a shifting global landscape towards multipolarity, the “BRICS+” cooperation framework has emerged as a significant force in fostering new types of international relations. BRICS nations advocate for mutual respect, fairness, justice, sustainable development, and win-win collaboration, aiming to enhance cooperation across economic, security, and cultural spheres to support member countries’ development. This initiative seeks to challenge Western-centric paradigms and establish a more inclusive and equitable international order, playing a pivotal role in creating a “consensus-based multipolar world.”
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Author: Efe Can Gürcan
Visiting Senior Researcher, London School of Economics
It is evident that multipolarity has become a hallmark of contemporary global politics, signaling a transition from U.S. unipolar hegemony to a more distributed power structure. In this context, South-South cooperation has gained renewed momentum. The future of global governance will ultimately hinge on the direction of this multipolarity—whether it is founded on coercion or consensus, with the latter necessitating enhanced cooperation among emerging powers to achieve mutual benefits.
The BRICS cooperation framework exemplifies consensus-based multipolarity and serves as a crucial driver for southern countries in establishing new types of international relations. The concept of “new international relations,” introduced by China, emphasizes mutual respect, fairness and justice, and cooperation for mutual benefit, aspiring to build a community with a shared future for humanity. Grounded in these principles, “BRICS+” is not an alliance targeted against any adversary but rather a platform for constructive dialogue and meaningful cooperation on global challenges. The 15th BRICS Leaders’ Meeting in 2023, which welcomed new member countries, reaffirmed BRICS nations’ commitment to a peaceful, just international order and sustainable development, marking a key opportunity for implementing this framework.
Economically, this framework promotes a human-centered global development approach, advocating for inclusive partnerships to achieve strong, green, and balanced global growth. Economic and financial cooperation remains a focal area for BRICS nations, aligning with the new international relations framework.
The commitment of BRICS countries to fairness and environmental sustainability stands as a compelling example. Since the signing of the Paris Agreement, BRICS countries have shifted towards sustainable development and actionable climate cooperation, providing direction for collective action through annual summits and high-level meetings. The New Development Bank established by BRICS has played a pivotal role in funding sustainable development initiatives. The 2023 BRICS Summit Declaration highlighted the importance of advancing climate cooperation, and the meeting of BRICS environmental ministers prioritized the exchange and application of green technologies among member states.
Initiatives like the BRICS Exchanges Alliance, formed in 2011, further enhance economic cooperation by connecting major stock exchanges in member countries and promoting the use of local currencies for cross-listing derivatives. Additionally, the BRICS Business Council, established in 2013, focuses on removing obstacles to economic growth and fostering development in key areas such as green energy, small enterprises, and trade.
Launched in 2010, the BRICS interbank cooperation mechanism has strengthened financial cooperation among member states, supporting the development of infrastructure and high-tech industries while facilitating the use of local currencies in trade and investment settlements. BRICS nations are also working towards establishing their own payment systems to reduce reliance on the U.S. dollar and mitigate the impact of American sanctions, with discussions around a potential new “BRICS currency” already underway—its realization will depend on achieving political consensus among member countries.
The New Development Bank, founded in 2014 with an initial capital of $100 billion, has welcomed Bangladesh, Egypt, and the UAE as members. As of 2023, the bank has approved investments totaling $32.8 billion in 96 projects, focusing on infrastructure, sustainable development, and environmental protection—aligning perfectly with the philosophy of creating new types of international relations. The bank also plans to increase loans in local currencies.
Unlike the International Monetary Fund and the World Bank, the New Development Bank operates without any conditionalities, respecting national sovereignty, and employing a democratic governance structure, with leadership rotating among member states and no veto power—each founding member enjoys equal voting rights. Furthermore, the BRICS Contingent Reserve Arrangement, established in 2015, provides liquidity support to member countries, allowing them to avoid reliance on the IMF during crises.
In the realm of diplomacy and security, the new international relations framework advocates for a path of “dialogue not confrontation, partnership not alliance, and win-win not zero-sum.” This calls for respect for the sovereignty and territorial integrity of all nations, fostering a more stable and peaceful global order. The meetings of BRICS heads of state and foreign ministers play a significant role in this regard, as BRICS countries advocate for comprehensive reforms in the United Nations, particularly in democratizing the Security Council and reducing the dominance of developed nations.
Culturally, the new international relations framework emphasizes respect for civilizational diversity, shared human values, and the importance of cultural heritage and innovation. The inaugural BRICS Education Ministers’ Meeting held in November 2013 marked the beginning of comprehensive education cooperation among BRICS nations, especially in higher education. Platforms like the BRICS Network University and the BRICS University Alliance have supported research and capacity building in the higher education sector.
The ultimate outcome of multipolarity remains uncertain, as current turmoil and conflict pose the imminent threat of a “third world war.” This underscores the urgent necessity of establishing a new type of international relations to avert dangers that threaten human survival. With the increasing membership and influence of “BRICS+,” it plays a vital role in constructing a “consensus-based multipolar world” that respects diverse voices and interests, contributing to the development of a more stable and just international community.
