TRENDS' First BRICS Think Tank Summit Advocates For Innovative Strategies In Sustainable Development

The inaugural BRICS Think Tank Summit, hosted by TRENDS Research & Advisory in Russia alongside the 2024 BRICS Summit in Kazan, underscored the critical role of think tanks and media. Participants highlighted their importance in shaping public policies and crafting strategies for sustainable development. These institutions are pivotal in fostering international cooperation among BRICS nations.

Think tanks and media entities within BRICS countries are increasingly vital. They generate knowledge that fuels innovation and progress. By analysing challenges, they transform them into opportunities, aiding in the development of economic and social policies that bolster cooperation and enhance global influence.

Participants stressed the importance of think tanks in guiding development paths for BRICS nations. They advocated for activating media diplomacy and training young researchers to advance collective knowledge. Integrating environmental, social, and governance (ESG) principles is crucial for promoting green innovation and sustainable growth.

The summit was organised by TRENDS in collaboration with Russian News Agency TASS and Russia Today as media partners. Fourteen think tanks from ten BRICS member countries participated. The event featured two main sessions: one on developing economic, cultural, and geopolitical policies, and another on strengthening soft power.

Dr. Mohammed Abdullah Al-Ali, CEO of TRENDS Research & Advisory, noted that while official discussions were ongoing at the Kazan Summit, TRENDS aimed to present constructive ideas to support these efforts. The goal was to enhance cooperation among BRICS nations and promote prosperity and peace.

Al-Ali emphasised TRENDS' commitment to fostering intellectual discussions on achieving ambitious goals for BRICS think tanks. The focus was on anticipating future developments and creating policies to maximise opportunities while minimising challenges that could impede progress.

BRICS Economic Potential

Al-Ali highlighted the significant demographic and economic capabilities of BRICS. The ten member countries account for 45% of the world's population and 25% of its land area. Their economies are valued at US$28.3 trillion, making up 28.8% of the global economy, with control over 20% of global trade according to WTO data.

These capabilities suggest a promising future for BRICS as a major economic and political force globally. However, achieving this requires a comprehensive scientific vision and a clear roadmap. Al-Ali stated, "I firmly believe that this is the role of think tanks, which should collaborate to provide this integrated vision by developing innovative strategies and actionable plans."

The summit concluded with a call for collaboration among think tanks to develop an integrated vision through innovative strategies. This approach aims to position BRICS as a formidable force on the global stage while ensuring sustainable development across its member nations.

With inputs from WAM