Xi pushes ‘Greater BRICS’ cooperation on trade, finance and AI

Chinese President Xi Jinping called on September 13 for wider economic cooperation through the BRICS framework, including trade, investment, financial coordination, artificial intelligence and links between special economic zones.

China proposed an open-source AI cooperation zone, a BRICS services-trade forum in 2027 and a partnership among special economic zones. These are policy initiatives; funding, rules, participation and implementation dates still require follow-up documents.

BRICS has expanded to include more countries from Asia, Africa, Latin America and the Middle East. Members want emerging economies to have greater influence in global financial and political institutions, but their interests are not identical and the bloc does not operate as one economy.

For Canada, stronger BRICS links could reshape competition in critical minerals, energy, agriculture, infrastructure and AI. Businesses dealing with member countries should monitor payment systems, export rules and local investment policy without assuming that new tariffs or currency arrangements are already in force.