The 18th BRICS summit in New Delhi, India, concluded on September 12-13, marking a significant shift in the group's trajectory. The BRICS, initially comprising four emerging economies, now consists of 15 member states across four continents. Egyptian President Abdel-Fattah Al-Sisi, in his address to the summit, highlighted the need to translate shared visions into operational and practical tools. This statement takes on greater significance in the context of the summit's tangible outcomes, indicating a decisive move towards the BRICS exercising its responsibility effectively on the ground.
President Al-Sisi's visit to New Delhi provided opportunities for strategic meetings that underscore Egypt's role and standing. These meetings followed a series of bilateral and strategic encounters, including the Chinese president's recent visit to Cairo. Notably, Al-Sisi met with Indian Prime Minister Narendra Modi, reaffirming the strategic nature and diverse prospects of Egypt's historical relationship with India. The Egyptian president praised India's role in ensuring the success of the summit's proceedings and initiatives.
During the summit, President Al-Sisi engaged in several key meetings that highlighted Egypt's concerns and priorities. In his meeting with Iranian President Masoud Pezeshkian, Al-Sisi stressed the need to halt escalation and reach a comprehensive and sustainable peaceful solution. With Indonesian President, he emphasized deeper partnerships with major Asian powers. Additionally, Al-Sisi met with UN Secretary-General, mobilizing the organization's capabilities in support of the Palestinian cause and the situation in Sudan.
A significant meeting took place between President Al-Sisi and Russian President Vladimir Putin, carrying considerable importance at both bilateral and international levels. The two leaders noted that the volume of trade between Egypt and Russia has reached $100 billion. President Al-Sisi emphasized Egypt's understanding of the importance of maintaining the stability and freedom of international navigation, given its strategic location and pivotal role in global trade.
The BRICS summit made notable progress in economic governance, pushing towards updating the BRICS New Development Bank strategy with a focus on "innovative and accessible financing instruments." President Al-Sisi affirmed Egypt's appreciation for these efforts, expecting them to strengthen the response to member states' financing needs. A significant development is that 67% of trade within the BRICS is now settled in local currencies, providing a buffer against external financial shocks and unilateral sanctions.
The summit's final communiqué reflected a commitment to addressing pressing geopolitical issues. The document included an explicit rejection of the forced displacement of Palestinians and a call to maintain the ceasefire in Gaza, ensuring the unimpeded delivery of humanitarian assistance. These positions signal that the BRICS aims to play a constructive role in mediating conflicts, rather than merely serving as a platform for voicing protests.
President Al-Sisi's address emphasized that the BRICS should be "an effective framework for building practical partnerships and developing a more balanced international economic system." The choice of the word "balance" suggests a correction rather than undermining the existing system or searching for an alternative. If the BRICS maintains this balanced positioning, it will possess the greatest common denominator; otherwise, internal cohesion may erode.
Key points
- Egypt's President Abdel-Fattah Al-Sisi participates in the 18th BRICS summit in New Delhi, India.
- The BRICS summit concludes with a commitment to update the BRICS New Development Bank strategy.
- President Al-Sisi emphasizes the need for practical tools to translate shared visions into action.
