Chinese President Unveils Initiatives to Deepen Cooperation Among ‘Greater BRICS’ Economies

Reuters

Chinese President Xi Jinping.

Chinese President Xi Jinping unveiled new initiatives on Sunday covering areas including artificial intelligence and trade, as Beijing seeks to deepen cooperation among the expanded BRICS grouping and strengthen it as a practical platform for development across the Global South.

Cooperation in areas from politics and security to economics and finance are the main focus areas of the grouping, with 2026 chair India and 2027 chair China seeking wider partnership to boost its global clout.

The success of the "Greater BRICS Initiative" depends on laying a solid foundation for pragmatic cooperation, Xi told the leaders' annual summit in New Delhi, the official Xinhua news agency said.

'Greater BRICS' nations should further co-operate, maintain ⁠the stability of industrial and supply chains, and cultivate an integrated market, Xi told the summit's closing session.

China will take the lead in establishing a BRICS AI Open Source Zone to promote cooperation on large language models, AI training and an open AI ecosystem, Xi added.

He also proposed a BRICS Special Economic Zone partnership and said China would host a BRICS Service Trade Forum next year to boost trade and investment ties.

BRICS has expanded to include Iran, Indonesia, Egypt, Ethiopia and the United Arab Emirates beyond an original membership of Brazil, Russia, India, China and South Africa two decades ago that aimed to transform a world order dominated by the United States.

In addition, 10 partner countries span emerging economies across Asia, Africa, Latin America and the Middle East, broadening its reach across the Global South.

China and Russia ‌sometimes ⁠refer to this larger bloc as "Greater BRICS".

The benefits of solutions developed within BRICS should not stay limited to BRICS alone, but should be made adaptable and accessible to meet the needs of the Global South, Indian Prime Minister Narendra Modi said in remarks earlier.

Russian President Vladimir Putin called BRICS a powerful driving force towards creating a new, fairer and multipolar world order, urging its members to find ways to combine the ⁠competitive advantages of their individual economies.

The summit comes amid renewed fighting in the Gulf region, with tit-for-tat attacks by the United States and Iran and Iran-backed Houthis widening the conflict by launching attacks on Saudi Arabia.

But the weekend summit scored an important diplomatic goal on Saturday, when it managed to forge consensus on a ⁠joint declaration backed by Iran and the UAE.

In general terms, the declaration expressed deep concern over the continued escalation of tension in the Middle East and urged the exercise of maximum restraint.

Separately, Iranian President Masoud Pezeshkian also met the Crown Prince of Abu Dhabi on the sidelines, ⁠in the highest-level meeting of the two countries' officials since the start of the conflict.

They discussed issues ranging from de-escalation and stability, and efforts to advance regional peace and development.

Source: Reuters



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