Development of BRICS Cooperation Mechanism in New Geopolitical Conditions

The BRICS countries are represented by major political and economic powers on different continents of the world. Initially, the BRICS concept of cooperation was intended for financial and investment activities, but after more than a decade, it has become one of the popular international platforms for multilateral cooperation. The BRICS Summit is an effective and important cooperation mechanism for developing and emerging countries. Since the first Summit, this annual event has played an important role in today’s world as a stable platform for multilateral dialogue among developing countries and international organisation. The article reviews the main outcomes of each BRICS summit and its dynamics in the development of BRICS. In addition, other platforms, such as the New Development Bank and the Contingent Reserve Arrangement, which were organized to implement the principles of the BRICS Summits, are also analysed. The purpose of this paper is to discuss existing multilateral models of cooperation within the BRICS framework, to highlight challenges and potential for platform development. It explores new ideas, ways and principles for improving multilateral meetings in the new geopolitical conditions.