RICS Expands Cooperation Agenda at Foreign Ministers Meeting in Russia

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The expanded bloc of BRICS nations convened in Nizhny Novgorod, Russia this week for their first foreign ministers meeting since admitting new members the UAE, Egypt and Iran earlier this year. Against the backdrop of ongoing geopolitical tensions, representatives recommitted to deepening collaboration across a wide range of economic and political issues.

Attended by foreign ministers and senior diplomats from 22 countries, the two-day gathering featured robust discussions on conflicts in Ukraine, Gaza and Sudan. In their joint statement, the ministers called for greater cooperation in areas like energy security, climate action and food supply chains. They also pushed for "comprehensive reform" of international bodies like the UN Security Council to increase developing nation representation.

On the sidelines a number of important bilateral meetings took place. Chinese Foreign Minister Wang Yi reaffirmed his country's support for Iranian sovereignty, while Russia proposed hosting Arab League talks aimed at resolving the Palestinian situation. Turkey, Saudi Arabia and other Gulf states were also in attendance, highlighting the growing influence of BRICS on the global stage.

In a sign of the UAE's deepening integration within the bloc since joining earlier this year Foreign Minister Sheikh Abdullah bin Zayed was an active participant. He emphasized opportunities to boost economic ties in fields like tourism, energy, infrastructure and education. The ministers' statement echoed UAE priorities like cooperation on food security, underscoring the country's commitment to multilateral solutions for global challenges.

Looking ahead, member states reiterated their goal of conducting more trade using national currencies instead of the US dollar, seeking greater monetary independence. Egypt will also host the New Development Bank forum this week to bolster BRICS investment in developing nation projects. As geopolitical fault lines shift, the expanding alliance signals its intent to coordinate on an increasingly wide range of economic and political matters.

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