The summits will also be attended by the president of the European Commission. The timing is particularly noteworthy given that it comes just days after the US presidential election and a week after the BRICS summit.
BRICS loose alliance taking shape
Andras Biro, an analyst at the XXI Century Institute, told Magyar Nemzet that the BRICS summit clearly showed that Russia has not become isolated within the international community, and that the leaders met in a very cordial atmosphere. Beyond the war in Ukraine, the most important issues centered on economic and potential financial cooperation, the expert stressed.
"BRICS has evolved beyond a forum for negotiating into a loose alliance in recent years,"
Andras Biro stressed.
BRICS is currently expanding to include emerging countries and countries that play an important role in world economy, such as Egypt, Ethiopia, Iran and the United Arab Emirates. Turkey has also repeatedly voiced its intention to join the organization, which is a clear indication that the world order is changing and that these countries are gaining leverage.
The West also holds its meeting
Shortly after the BRICS summit, the West will also hold a diplomatic meeting, this time in a new format. The European Political Community (EPC) summit in Budapest starts with a plenary session, followed by breakout sessions on migration and economic security. The session on migration will address all aspects of illegal immigration, while the session on economic security will analyze the interconnectivity of energy, transport, information technology and global trade.
Preparations for the summit were also on the agenda at last week's meeting between Hungarian Prime Minister Viktor Orban and French President Emmanuel Macron.
What we are witnessing, according to the analyst, is a kind of show of force, which seeks to strengthen dialogue and cooperation on the European continent in a budding new (security) political structure.
Hungary's role is particularly significant as it currently holds the rotating presidency of the European Union.
There are a number of topics that have been discussed in the recent period, which will feature prominently at the summit, and which will have the world focusing on Budapest.