Kazan declaration backs local-currency NDB financing

The leaders placed more representative global governance, sustainable development and cooperation among the expanded membership at the centre of the summit.

The Kazan Declaration endorsed modalities for a category through which other emerging and developing countries could cooperate without becoming full members.

Leaders sought more meaningful representation for Africa, Asia and Latin America in international decisions, including UN Security Council reform.

The declaration welcomed local-currency settlements and a voluntary, non-binding payments initiative. It did not launch a common BRICS currency.

Leaders called for a feasibility study of cross-border settlement and depositary infrastructure. A study proposal was not an operational system.

The declaration welcomed a Russian initiative for a grain exchange to support agricultural trade and food security. The exchange was a proposal.

Leaders welcomed work toward a UN framework convention on international tax cooperation, aiming for a more inclusive voice in tax rules.

The declaration called for an immediate ceasefire, humanitarian access and support for Palestinian statehood while noting South Africa’s case before the International Court of Justice.

The BRICS Plus session brought other Global South leaders into dialogue on peace, development and more representative governance. Attendance was distinct from full membership.

Brazil began its annual chairship with priorities of global governance reform and cooperation among countries of the Global South.