By outdoor-nature-child.com On the morning of October 22, President Xi Jinping boarded a special aircraft heading to Kazan to attend the 16th BRICS Leaders’ Summit. An article published by Xinhua News Agency reflects on the stories of President Xi’s efforts to foster BRICS cooperation.
The BRICS cooperation mechanism emerged during a time when emerging market nations and developing countries were rising collectively, making it a significant force in shaping the international landscape.
Since 2013, President Xi has chaired or participated in various BRICS summits, delivering important speeches that articulate China’s proposals and vision during key phases of the BRICS cooperation mechanism’s development and expansion. His leadership has steered the BRICS vessel towards steady and enduring progress.
As we look back at President Xi’s “BRICS time,” many vivid stories stand out.
One of the hallmark achievements is the establishment of the New Development Bank. Situated in Shanghai’s Pudong district, the 150-meter-tall headquarters of the bank stands as a symbolic testament to BRICS nations’ unity and collaboration. This bank, which Xi himself championed, is the first multilateral development bank initiated solely by emerging economies and developing countries. It provides vital financing for infrastructure, clean energy, environmental protection, and digital development projects across BRICS nations.
In 2014, during the sixth BRICS Leaders’ Summit in Fortaleza, Brazil, the formation of the New Development Bank was officially announced in front of the leaders from the five nations. President Xi remarked that this accomplishment is of significant and far-reaching importance, reflecting the political will of BRICS nations to cooperate and develop together. He noted that it would not only enhance the BRICS’ voice in international financial affairs but also benefit our people and those of developing countries. He expressed gratitude to everyone for supporting the bank’s establishment in Shanghai and emphasized the importance of advance preparations for its swift launch.
From advocating for the bank’s establishment to stressing the need to “build, maintain, and develop it for the economic advancement of developing countries,” Xi has committed resources, such as a $400 million contribution to support its operation and long-term growth. He has underscored the importance of strengthening the New Development Bank, welcoming new members, and encouraging its participation in initiatives like the Belt and Road and the Global Development Initiative. Xi’s dedication has invigorated the bank’s trajectory.
Fast forward to October 2023, during a meeting with New Development Bank President Dilma Rousseff, Xi highlighted the bank’s role as an emerging power in the international financial system. He called for it to fulfill its potential as a new type of multilateral development institution of the 21st century, advocating for a more equitable international financial landscape and greater representation for emerging markets and developing countries. He assured continued Chinese support for the bank’s undertakings.
With over 100 projects and approximately $35 billion in total loans over nine years, the New Development Bank has made remarkable strides. It not only creates platforms for fair development but also provides effective tools for financial governance, supporting economic growth in BRICS countries and contributing uniquely to the global economic governance system.
In September 2017, during the ninth BRICS Leaders’ Summit in Xiamen, a significant evolution occurred with the introduction of the “BRICS+” cooperation model. At this pivotal moment, President Xi recognized that the significance of BRICS had transcended its original five-nation framework, embodying the expectations of emerging markets, developing countries, and the broader international community.
On September 5, the Dialogue between Emerging Market and Developing Countries was held, launching the “BRICS+” cooperation model as the mechanism entered a new historical phase. Xi and leaders from BRICS joined their counterparts from Egypt, Guinea, Mexico, Tajikistan, and Thailand in discussions focused on “deepening mutually beneficial cooperation and promoting common development,” with the 2030 Sustainable Development Agenda at the forefront.
BRICS has become an important platform for emerging markets and developing countries to strengthen collaboration and safeguard shared interests. In 2022, during a global development dialogue held virtually, leaders from 13 emerging markets and developing countries convened with BRICS leaders to discuss development strategies, catalyzing the initiation of BRICS expansion.
At the 14th BRICS Leaders’ Summit, President Xi reiterated that BRICS is not a closed club but a supportive family of partners promoting win-win cooperation. He acknowledged the growing interest from various nations seeking to join the BRICS, emphasizing that this diversification would inject fresh vitality into the cooperation mechanism and enhance its influence.
Through tireless advocacy and strategic discussions, Xi has played a crucial role in facilitating this historic expansion. From proposing the “BRICS+” cooperation model to actualizing significant growth in membership, BRICS has gained depth, weight, and broader influence, garnering increasing global interest.
Moreover, President Xi has consistently emphasized the importance of cultural exchange among BRICS nations. At the launch of the BRICS Cultural Festival in Xiamen on September 4, 2017, he highlighted the rich diversity of civilizations and the need for mutual respect and cooperation among different societies. He underscored that the success of BRICS cooperation proves that varying social systems and development models can coexist and cooperate, emphasizing the need for open dialogue.
In August 2023, to further enhance BRICS cooperation, President Xi proposed utilizing various platforms to deepen cultural exchanges and foster closer ties among people. Events such as film festivals, sports competitions, and literary gatherings have highlighted these cultural connections, fostering bridges of shared understanding. Notably, the inaugural International Youth Poetry Conference featuring poets from BRICS nations showcased this commitment to cultural dialogue.
As all member states move toward greater intimacy and mutual respect, they are setting a “BRICS model” for promoting exchanges and mutual learning among civilizations.