BRICS nations agree joint declaration, balancing Iran and UAE tensions
BRICS leaders met in New Delhi. They agreed on a joint declaration. This bridged the gap between Iran and the UAE.
Leaders of the BRICS bloc gathered in New Delhi on Saturday. They wanted to create a shared position on global affairs.
Negotiators agreed on a declaration. It will condemn military action by any one country.
But it will not name specific nations or conflicts. The real test was bridging the divide between Iran and the UAE.
Both are BRICS members. They are at odds over the US-Israeli war affecting Iran.
The UAE suspended all trade with Iran in August after Iranian missile strikes. The bloc includes Brazil, Russia, India, China, South Africa, Egypt, Ethiopia, Indonesia, Iran and the United Arab Emirates.
Together they account for more than 40 per cent of the world's population and almost a quarter of global economic output. BRICS was formed in 2009 to challenge Western-dominated international institutions like the IMF and World Bank.
India's Prime Minister Narendra Modi pushed members to cut trade barriers and expand business ties during the summit.
- 10 nations
- BRICS members
- over 40 per cent
- World population represented
- almost a quarter
- Global economic output
- 2009
- BRICS founding year
Why it mattersA unified BRICS declaration shows the bloc wants to influence global rules and counterbalance Western economic influence. It also tests whether such coalitions can hold together amid geopolitical friction.
AustraliaAustralia faces a growing BRICS bloc that controls vast resources and markets; how the group coordinates on trade and economic policy directly affects Australian export opportunities and investment flows.
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