4.

XVI BRICS Summit

Kazan Declaration

BRICS Plus: Advancing towards the Materialization of the Official BRICS Plus Currency for
Accelerating Sustainable Development and Inclusive Multilateralism

FBS Building, Dhaka University, Bangladesh

Sunday, 02 June

Preamble

1. We, the leaders of the Federative Republic of Brazil, The Russian Federation, The
People’s Republic of China, The Arab Republic of Egypt, The Federal Democratic
Republic of Ethiopia, The Republic of India, The Islamic Republic of Iran, The Kingdom
of Saudi Arabia, The Republic of South Africa, The United Arab Emirates held the XVI
BRICS PLUS Summit under the theme “Advancing towards the materialisation of the
official BRICS PLUS currency for accelerating sustainable development and inclusive
multilateralism” from 30 May 2024 to 02 June 2024 under the chairship of The
Russian Federation.
2. We re-endorse our adherence to the BRICS principles of; respect for the other;
sovereign parity; fraternity; democracy; openness; non-discrimination; enhanced
cooperation and consensus. As we stand today on the basis of 16 years of BRICS
Summits, we hereby reestablish ourselves to advance the principles of the BRICS
integration based on the three sectors of political and security, economic and
financial, and cultural and people-to-people cooperation and strive to strengthen
 and broaden the BRICS platform for the benefit of our peoples through the pursuit of
peace, justice, equitable and democratic global order and mutual respect.
3. We welcome the extension of BRICS into the newly formed BRICS Plus, and
congratulate the leaders of the Arab Republic of Egypt, The Federal Democratic
Republic of Ethiopia, The Kingdom of Saudi Arabia, The Islamic Republic of Iran and
The United Arab Emirates for joining BRICS Plus as its first extension programme.

4. We recall the Johannesburg II Declaration and the call for partnership for mutually
accelerated growth, sustainable development, inclusive multilateralism and
cooperation with the African Union by BRICS Plus Nations.

Materialization of a New Economic Framework for BRICS plus

5. We urge the expansion of BRICS Plus for the invited and willing countries who meet
the criteria of the BRICS Plus bloc so that they can help in the progress of advancing
towards the materialisation of a new economic framework.

6. We believe for the time being there will be no official BRICS Plus currency, BRICS Plus
countries’ individual national currencies will be swapped and promoted among the
nations bilaterally through national currency swap agreements. Alongside this, the
promotion of BRICS+ nations’ individual national currencies through bilateral trade
will occur. Prioritising economic stability and harmonisation across all member states
is essential to achieving the future vision of the bloc.

7. We urge the nations present in the meeting to transit from the external banking
systems after they deem it feasible if the BRICS Banking and digital payment system
is created properly, meanwhile the nations shall be open to other alternatives.
8. We request for the formation of regional currency groups based on existing
economic communities. Such as the Economic Community of West African
States(ECOWAS), Southern African Development Community (SADC) for the financial
integration within the member states of the African Union with the help of the
funding of the willing member countries of BRICS Plus.

9. We call for initiation of a research project in the “BRICS Research Conference of

2024” hosted by BRICS Research Institutes on “Examining the Payment Gateway
Systems and their security of the BRICS Plus”:
a) for proper analysis and examining on the procedures of the local currency
transactions by suitable methods that are already in practice and putting up
an evaluation of feasibility for the proposed BRICS payment gateway as an
alternative method,
b) while allowing observer nations, such as The Republic of Cuba, Plurinational
state of Bolivia, The Republic of Indonesia, if deemed fit by all the BRICS Plus
nations along with the facilitation of research of the Payment Gateway
Systems of their nations so that transparency is ensured,
c) the content for the research of existing payment gateway systems will be
submitted by the respective nations based on their permissible limit,
d) And the research will continue in the BRICS Research Institutes after the end
of the conference.