(MENAFN- Kuwait News Agency (KUNA)) KUWAIT, July 7 (KUNA) -- At the end of BRICS 17th Summit on the theme of "Peace and Security and Reform of Global Governance" was held in Rio de Janeiro, Brazil, the participants adopted the final declaration.
Participating leaders and officials outlined their views on reforming the global governance system, deepening trade cooperation, combating the effects of climate change, and cultural development
Brazilian President Luiz Inacio Lula da Silva, who presided the meeting, said, "If global governance does not correspond to the new multipolar reality of the 21st century, then the task of BRICS is to promote its renewal. The representativeness and diversity of the association make it a force that promotes peace [...]. We can lay the foundation for a renewed system of global governance"
Russian President Vladimir Putin emphasized that BRICS' authority and influence in the world is growing year by year, saying, "Our group has expanded significantly and includes leading countries in Eurasia, Africa, the Middle East, and Latin America. Together, we have truly enormous political, economic, scientific, technological, and human potential"
He expressed confidence that the final declaration of the BRICS summit would create a good basis for further joint activities in the spirit of equal cooperation.
Indian Prime Minister Narendra Modi stated, "The expansion of BRICS and the accession of new partners to the group is proof that this is an association capable of changing over time. Now we need to show the same determination in reforming other institutions, including the UN Security Council, the WTO and multilateral development banks."
South African President Cyril Ramaphosa expressed a similar point of view. In addition, he noted that the expansion of BRICS opens up new opportunities for strengthening mutual trade, technological exchange and cooperation in the field of green economy.
Ramaphosa paid special attention to the fight against terrorism, emphasizing that South Africa is committed to the full implementation of the BRICS strategy to counter terrorism.
Egyptian Prime Minister Mostafa Madbouly announced the priority areas for cooperation among the ten countries: economic integration, energy, infrastructure and financial cooperation, including settlements in national currencies, strengthening the role of the New Development Bank of BRICS, and new technologies.
The latter point, namely the development of artificial intelligence (AI), received special attention in the final declaration.
"To support a constructive debate towards a more balanced approach, we agreed on the BRICS Leaders' Statement on the Global Governance of Artificial Intelligence, which aims to foster responsible development, deployment, and use of AI technologies for sustainable development and inclusive growth," the document emphasized.
"We welcome the BRICS Interbank Cooperation Mechanism (ICM) focus on facilitating and expanding innovative financial practices and approaches for projects and programmes, including finding acceptable mechanisms of financing in local currencies," the declaration stated.
In the declaration, the leaders also condemned the terrorist attack in India on 22 April 2025, which killed 26 people, and called for the speedy finalization and adoption by the UN of a comprehensive convention on combating international terrorism.
In addition, the member countries recognized the importance of continuing work on the BRICS Grain Exchange initiative, agreed to establish the BRICS Space Council and expressed their support for India's Presidency of the group in 2026 and the hosting of the 18th BRICS summit. (end)
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