Kazan Declaration Emphasises On Reforms In Global Security And Multilateralism
The Kazan Declaration, adopted at the recent BRICS Summit in Kazan, emphasizes the urgent need for reforms in global security and multilateralism. The summit's theme, "Strengthening Multilateralism for Just Global Development and Security," reflects a collective commitment among member nations to address pressing global challenges through enhanced cooperation.
The declaration calls for significant reforms in international organizations, particularly the United Nations Security Council and the World Trade Organization (WTO). Leaders underscored the necessity of making these institutions more representative and effective in addressing contemporary global issues.
Emphasis was placed on strengthening multilateral frameworks to ensure equitable global development. This includes fostering economic cooperation among BRICS nations and enhancing collaboration on issues such as energy security, healthcare, and environmental protection.
The declaration advocates for a two-tier binding dispute settlement system within the WTO, aiming to establish a fully operational framework by 2024. This initiative seeks to enhance the effectiveness of global trade governance and resolve disputes more efficiently.
There was also a call to expand efforts to de-dollarize the global economy, promoting the use of BRICS currencies and developing new payment mechanisms. This move aims to reduce dependency on the US dollar and enhance financial sovereignty for member states.
Overall, the Kazan Declaration serves as a roadmap for BRICS nations to navigate the complexities of global governance, advocating for a more inclusive and just international order.
The Declaration had fruitful outcome mutually agreed upon by the member states of the grouping.
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