Brazil
Source: brics.br

With a focus on initiatives that directly impact people’s lives, the political negotiators’ meeting charts a path toward the Leaders’ Summit. The partnership to eliminate socially determined diseases gains traction

Prioritizing concrete issues that directly affect people’s lives—such as fighting hunger and poverty—is the guiding principle of Brasil’s BRICS presidency. This agenda shaped the main outcomes of the bloc’s third and final Sherpa Meeting this week. Brasil’s strategy seeks to rebalance the international agenda—often dominated by geopolitical disputes—by elevating priorities like poverty eradication, food security, and stronger health systems.

The five-day meeting of political negotiators from Global South nations wrapped up on Friday, July 4 in Rio de Janeiro, with positive assessments from the Brazilian presidency in three key areas: cooperation on the elimination of socially determined diseases, on artificial intelligence (AI), and on combating climate change. The gathering laid the groundwork for declarations expected to be adopted on each of these themes.

“Brasil’s effort focused on bringing these issues to the center of major global groups’ agendas. Holding the presidency gives us the opportunity to do exactly that—just as we did at the G20 with the launch of the Global Alliance Against Hunger and Poverty, and are doing now with this new partnership to eliminate what we call ‘poverty diseases’—tuberculosis, leprosy, malaria, dengue, yellow fever,” said Ambassador Mauricio Lyrio, Brasil’s Sherpa and coordinator of the meeting.
Another major milestone was the institutional development and formalization of BRICS processes—a top priority for Brasil’s coordination efforts this year, particularly following the bloc’s recent expansion to include new member states and partners. Progress was made on the design of the new rotating presidency model and on procedures for partner countries, which now number ten with the addition of Vietnam.

On the Road to COP30

Agreements calling for concrete, ambitious actions to address climate change stood out not only because of the urgency of the issue, but also because Brasil will chair the 30th United Nations Climate Change Conference (COP30) later this year. For Global South nations, climate finance remains the central concern. These countries argue that financial mechanisms must reflect historical responsibility and differences in economic capacity between developed and developing countries. “The general understanding is that more resources are needed—including from wealthy countries, which were the biggest producers of greenhouse gases. They must contribute to finance the transition in countries that are still developing,” said Lyrio.

Previous meetings

The first Sherpa Meeting, held in February at the Itamaraty Palace in Brasilia, resulted in unanimous approval of the priority issues proposed by Brasil. A central point was the review of the Strategic Partnership on Economic Affairs, a five-year plan now being renewed under Brasil’s leadership. President Luiz Inácio Lula da Silva attended that session and emphasized the importance of multilateralism in shaping a more balanced global agenda.

The second meeting, held in April in Rio de Janeiro, was marked by the first-ever participation of civil society representatives. The joint session between Sherpas and leaders of the BRICS People-to-People (P2P) pillar signaled a significant shift in how the group incorporates social demands into its decision-making process. One consensus that emerged was that the New Development Bank (NDB) should serve as the main driver of industrialization in the Global South.

English version: Tadeu Azevedo (POET/UFC)
Proofreading: Enora Lessinger (POET/UFC)

France
Source: www.rfi.fr

BRICS leaders meeting in Rio de Janeiro from Sunday are expected to decry US President Donald Trump's "indiscriminate" trade tariffs, saying they are illegal and risk hurting the global economy.

Emerging nations, which represent about half the world's population and 40 percent of global economic output, are set to unite over "serious concerns" about US import tariffs, according to a draft summit statement obtained by AFP.

Since coming to office in January, Trump has threatened allies and rivals alike with a slew of punitive duties. His latest salvo comes in the form of letters informing trading partners of new tariff rates that will soon enter into force.

The draft summit declaration does not mention the United States or its president by name. But it is a clear political shot directed at Washington from 11 emerging nations, including Brazil, Russia, India, China and South Africa.

"We voice serious concerns about the rise of unilateral tariff and non-tariff measures which distort trade and are inconsistent with WTO (World Trade Organization) rules," the draft text says.
It warns that such measures "threaten to further reduce global trade" and are "affecting the prospects for global economic development."

Xi no show

Conceived two decades ago as a forum for fast-growing economies, the BRICS have come to be seen as a Chinese-driven counterbalance to Western power.

But the two-day summit's political punch will be depleted by the absence of China's Xi Jinping, who is skipping the annual meeting for the first time in his 12 years as president.

"I expect there will be speculation about the reasons for Xi's absence," said Ryan Hass, a former China director at the US National Security Council who is now with the Brookings Institution think tank.

"The simplest explanation may hold the most explanatory power. Xi recently hosted Lula in Beijing," said Hass.

The Chinese leader will not be the only notable absentee. War crime-indicted Russian President Vladimir Putin is also opting to stay away, but will participate via video link, according to the Kremlin.
Hass said Putin's non-attendance and the fact that Indian Prime Minister Narendra Modi will be a guest of honour in Brazil could also be factors in Xi's absence.

"Xi does not want to appear upstaged by Modi," who will receive a state lunch, he said. "I expect Xi's decision to delegate attendance to Premier Li (Qiang) rests amidst these factors."

Still, the Xi no-show is a blow to host President Luiz Inacio Lula da Silva, who wants Brazil to play a bigger role on the world stage.

In the year to November 2025, Brazil will have hosted a G20 summit, a BRICS summit, and COP30 international climate talks, all before heading into fiercely contested presidential elections next year, in which he is expected to run.

Conflict resolution

Iran's President Masoud Pezeshkian, whose nation is still reeling from a 12-day conflict with Israel, is also skipping the meeting.

A source familiar with the negotiations said the BRICS countries were divided over how to respond to the wars in Gaza and between Iran and Israel.

Iranian negotiators were pushing for a tougher collective stance that goes beyond referencing the need for the creation of a Palestinian state and for disputes to be resolved peacefully.

But one diplomatic source said the text would give the "same message" that BRICS delivered in June when Iran was being bombed by Israel and the United States, expressing "concern."

Finally, Brazil's president insisted the world must act to stop what he described as an Israeli "genocide" in Gaza.

"We cannot remain indifferent to the genocide carried out by Israel in Gaza, the indiscriminate killing of innocent civilians and the use of hunger as a weapon of war," he told leaders from China, India, and other nations.

His comments came as Gaza truce talks between Israel and Hamas resumed in Doha, and as pressure mounted to end the 22-month war, which began with Hamas's 7 October 2023 attacks.
Artificial intelligence and health will also be on the agenda at the summit.

Original members of the bloc Brazil, Russia, India, and China have been joined by South Africa and, more recently, by Saudi Arabia, Iran, the United Arab Emirates, Egypt, Ethiopia and Indonesia.
 (with newswires)

USA
Source: apnews.com

BRICS summit opens in Brazil overshadowed by Trump’s tariff policies and Middle East tensions

RIO DE JANEIRO (AP) — The BRICS bloc of developing nations on Sunday condemned the increase of tariffs and attacks on Iran, but refrained from naming U.S. President Donald Trump. The group’s declaration, which also took aim at Israel’s military actions in the Middle East, mentioned war-torn Ukraine just once.

China’s President Xi Jinping did not attend a BRICS summit for the first time since he became his country’s leader in 2012. Russian President Vladimir Putin, who will make an appearance via videoconference, continues to mostly avoid traveling abroad due to an international arrest warrant issued after Russia invaded Ukraine.

The group’s declaration raised “serious concerns” about the rise of tariffs which it said were “inconsistent with WTO (World Trade Organization) rules,” the document says. The group added that those restrictions “threaten reduce global trade, disrupt global supply chains, and introduce uncertainty.”

Brazil’s President Luiz Inácio Lula da Silva criticized NATO’s decision to hike military spending by 5% of GDP annually by 2035. That sentiment was later echoed in the group’s declaration.

“It is always easier to invest in war than in peace,” Lula said at the opening of the summit.

Iran in attendance

Iranian President Masoud Pezeshkian, who was expected to attend the summit before the attacks on his country in June, sent his foreign minister Abbas Araghchi to the meeting in Rio.

Araghchi told leaders he had pushed for every member of the United Nations to condemn Israel’s strikes strongly, which he called an “invasion,” state media reported. He added Israel and the U.S. should be accountable for rights violations. The Iranian foreign minister said the aftermath of the war “will not be limited” to one country.

“The entire region and beyond will be damaged,” he said.

The restraint in Rio de Janeiro marks a departure from last year’s summit hosted by Russia in Kazan, when the Kremlin sought to develop alternatives to U.S.-dominated payment systems which would allow it to dodge Western sanctions imposed after Russia’s full-scale invasion of Ukraine in February 2022.

“We recall our national positions concerning the conflict in Ukraine as expressed in the appropriate fora, including the UN Security Council and the UN General Assembly,” the group said in its final declaration.

João Alfredo Nyegray, an international business and geopolitics professor at the Pontifical Catholic University in Parana, said the summit could have played a role in showing an alternative to an unstable world, but won’t do so.

“The withdrawal of Egypt’s President Abdel Fattah al-Sisi and the uncertainty about the level of representation for countries like Iran, Saudi Arabia and the UAE are confirming the difficulty for the BRICS to establish themselves as a cohesive pole of global leadership,” Nyegray said. “This moment demands high level articulation, but we are actually seeing dispersion.”

Avoid Trump’s tariffs

Brazil, the country that chairs the bloc, has picked six strategic priorities for the summit: global cooperation in healthcare; trade, investment and finance; climate change; governance for artificial intelligence; peace-making and security; and institutional development.

It has decided to focus on less controversial issues, such as promoting trade relations between members and global health, after Trump returned to the White House, said Ana Garcia, a professor at the Rio de Janeiro Federal Rural University.

“Brazil wants the least amount of damage possible and to avoid drawing the attention of the Trump administration to prevent any type of risk to the Brazilian economy,” Garcia said.

While Brazil advocated on Sunday for the reform of Western-led global institutions, a cornerstone policy of the group, the country’s government wants to avoid becoming the target of tariffs — a predicament it has so far largely escaped.

Trump has threatened to impose 100% tariffs against the bloc if they take any moves to undermine the dollar.

‘Best opportunity for emerging countries’

BRICS was founded by Brazil, Russia, India, China and South Africa, but the group last year expanded to include Indonesia, Iran, Egypt, Ethiopia, and the United Arab Emirates.

As well as new members, the bloc has 10 strategic partner countries, a category created at last year’s summit that includes Belarus, Cuba and Vietnam.

That rapid expansion led Brazil to put housekeeping issues — officially termed institutional development — on the agenda to better integrate new members and boost internal cohesion.

Despite notable absences, the summit is important for attendees, especially in the context of instability provoked by Trump’s tariff wars, said Bruce Scheidl, a researcher at the University of Sao Paulo’s BRICS study group.

“The summit offers the best opportunity for emerging countries to respond, in the sense of seeking alternatives and diversifying their economic partnerships,” Scheidl said.

Earlier on Sunday, a pro-Israel non-profit organization placed dozens of rainbow flags on Ipanema beach to protest Iran’s policies regarding LGBT+ people. On Saturday, human rights group Amnesty International protested Brazil’s plans for offshore oil drilling near the mouth of the Amazon River.

For Lula, the summit is a welcome pause from a difficult domestic scenario, marked by a drop in popularity and conflict with Congress.

The meeting was also an opportunity to advance climate negotiations and commitments on protecting the environment before November’s COP 30 climate talks in the Amazonian city of Belem.

____ AP journalist Nasser Karimi contributed to this report from Tehran.

Qatar
Source: www.aljazeera.com

Leaders expected to decry US President Donald Trump’s trade tariffs while presenting the bloc as a defender of multilateralism.

Leaders of the growing BRICS group are gathering in Brazil for a summit overshadowed by United States President Donald Trump’s new tariff policies while presenting the bloc as a defender of multilateralism.

The leaders, mainly from the developing world, will be discussing ways to increase cooperation amid what they say are serious concerns over Western dominance at their two-day summit that begins in Rio de Janeiro on Sunday.

The BRICS acronym is derived from the initial letters of the founding member countries: Brazil, Russia, India, China and South Africa. The bloc, which held its first summit in 2009, later added Egypt, Ethiopia, Indonesia, Iran, Saudi Arabia and the United Arab Emirates as full members. It also has 10 strategic partner countries, a category created last year, that includes Belarus, Cuba and Vietnam.

But for the first time since taking power in 2012, Chinese President Xi Jinping will not be attending in person, instead sending Prime Minister Li Qiang.

Russian President Vladimir Putin will also miss in-person attendance as he is wanted by the International Criminal Court (ICC) for his role in the 2022 invasion of Ukraine. Brazil, as a signatory to the Rome Statute, would be required to enforce the arrest warrant.

The notable absences are raising questions over the group’s cohesion and global clout.

Now chaired by Brazil, leaders at the BRICS summit are expected to decry the Trump administration’s “indiscriminate” trade tariffs, saying they are illegal and risk hurting the global economy. Global health policies, artificial intelligence and climate change will also be on the agenda.

US politics, Canada’s multiculturalism, South America’s geopolitical rise—we bring you the stories that matter.

The BRICS countries say they represent almost half of the world’s population, 36 percent of global land area, and a quarter of the global economic output. The bloc sees itself as a forum for cooperation between countries of the Global South and a counterweight to the Group of Seven (G7), comprised of leading Western economic powers.

However, behind the scenes, divisions are evident. According to a source quoted by The Associated Press news agency, some member states are calling for a firmer stance on Israel’s war in Gaza and its recent strikes on Iran. The source requested anonymity due to the sensitivity of the discussions. Iranian President Masoud Pezeshkian and Egypt’s Abdel Fattah el-Sisi will be attending the Rio summit.

But Al Jazeera’s Lucia Newman, reporting from Rio, said the group’s aim remains clear.

“The BRICS goal is to exert pressure for a multipolar world with inclusive global governance to give a meaningful voice to the Global South, especially in the trading system,” she said.

“It’s not super organised, nor does it have a radical global impact,” Newman added. “The real question is, can an expanded BRICS whose members have very different political systems and priorities form a sufficiently unified bloc to have any significant impact?”

France
Source: www.euronews.com

BRICS summit opens in Brazil with key leaders notably absent

BRICS leaders set to discuss key global political issues in Rio de Janeiro, but questions over the bloc’s cohesion arise as Chinese President Xi Jinping and Russian President Vladimir Putin opt to skip the summit.

BRICS leaders are convening in Rio de Janeiro in Brazil for a two-day summit during which pressing topics like Israel's attack on Iran, the humanitarian catastrophe in Gaza and trade tariffs imposed by US President Donald Trump are expected to be handled with caution.

Analysts and diplomats have said the lack of cohesion in an enlarged BRICS, which doubled in size last year, may affect its ability to become another pole in world affairs. They also see the summit's moderate agenda as an attempt by member countries to stay off Trump’s radar.

Brazil's President Luiz Inácio Lula da Silva has some of his priorities, such as debates on artificial intelligence and climate change, front and centre for the talks with key leaders not in attendance.

Chinese President Xi Jinping has skipped the meeting for the first time since his rise to power in 2012, citing scheduling conflicts. The 72-year-old Chinese leader has instead sent Prime Minister Li Qiang to represent Beijing in his place.

Russian President Vladimir Putin is also not in attendance to avoid arrest amid a pending warrant from the International Criminal Court – which Brazil is a member of – according to the Kremlin. Foreign Minister Sergey Lavrov is in attendance, while Putin delivered an address via video link to the assembly.

Lula said in his speech on Sunday that “we are witnessing the unparalleled collapse of multilateralism” and that the meeting is taking place “in the most adverse global scenario” of the four times Brazil has hosted it. He called for the group to promote peace and mediate conflicts.

“If international governance does not reflect the new multipolar reality of the 21st century, it is up to the BRICS to contribute to its renovation,” added Lula in his opening remarks.

The restraint expected in Rio de Janeiro marks a departure from last year’s summit hosted by Russia in Kazan, when the Kremlin sought to develop alternatives to US-dominated payment systems, allowing it to dodge Western sanctions imposed after Russia's full-scale invasion of Ukraine in February 2022.

The summit is expected to produce three joint statements, according to sources involved in the negotiations. Leaders are preparing to potentially endorse texts on the humanitarian crisis in Gaza which has been under Israeli attack since early October 2023.

The BRICS leaders are also expected to produce joint statements on Israel’s attacks on Iran as well as a vague final declaration regarding Moscow’s war in Ukraine and other conflicts in the Middle East.
Brazil, the country that chairs the bloc, has picked six strategic priorities for the summit: global cooperation in healthcare; trade, investment and finance; climate change; governance for artificial intelligence; peace-making and security; and institutional development.

For Lula, the summit is a welcome pause from a difficult domestic scenario, marked by a drop in popularity and conflict with Congress.

The meeting also represents an opportunity to advance climate negotiations and commitments on protecting the environment before November's COP 30 climate talks in the Brazil’s northern Amazonian city of Belem.

Russia
Source: en.kremlin.ru


Plenary session of the 17th BRICS Summit (via videoconference).

During the session, dedicated to peace, security, and global governance reforms, participants discussed prospects of further cooperation between the BRICS states in politics, trade, the economy, culture, and humanitarian affairs, as well as the international agenda.

After the plenary session the final Declaration of the 17^th BRICS Summit has been adopted.
* * *
Remarks at the main plenary session of the 17^th BRICS Summit

President of Russia Vladimir Putin: Colleagues, friends.

First of all, I would like to join the words of gratitude to President Lula da Silva and the Brazilian Chairmanship for their active efforts in advancing the strategic partnership within BRICS.

It is important that the BRICS countries continue to deepen their cooperation across key sectors in politics, security, the economy and finance, cultural and humanitarian contacts.

This group has significantly grown and now includes leading states in Eurasia, Africa, the Middle East, and Latin America. Together, we possess a vast political, economic, scientific, technological, and human potential.

The BRICS countries account for not only a third of the Earth’s landmass and almost half the planet’s population, but also for 40 percent of the global economy, while their combined GDP at purchasing power parity stands at $77 trillion. This is the 2025 data according to the IMF. By the way, BRICS is substantially ahead of other groups in this parameter, including G7 with $57 trillion.

Year after year, our group’s global authority and influence continue growing. BRICS has rightfully established itself as one of the key centres of global governance, with our collective voice in support of the global majority’s vital interests resonating ever more powerfully across the international stage.
BRICS has many supporters in the Global South and East. The culture of an open partnership and cooperation, mutual respect and consideration for each other’s interests in the group appeals to them. Based on this knowledge, during the summit in Kazan, Russia, in October 2024, we decided to establish a category of BRICS partner states, to develop ad hoc practical cooperation with all interested countries. BRICS has ten partner states to date.

I will stress that the BRICS countries represent different development models, religions, authentic civilisations and cultures, while unanimously upholding equality and neighbourliness. They prioritise traditional values, the high ideals of friendship and accord, striving to contribute to global stability and security, the prosperity and success of all nations. Without doubt, this constructive approach and unifying agenda are highly relevant amidst the geopolitical challenges of today.

We all see that the world is experiencing tectonic shifts. The unipolar system of international relations that once served the interests of the so-called golden billion, is losing its relevance, replaced by a more just multi-polar world. Global economic patterns are changing faster. Everything indicates that the liberal globalisation model is becoming obsolete while the centre of business activity is gravitating towards developing markets, launching a powerful growth wave, including in the BRICS countries. To maximise the emerging prospects, it is important to intensify cooperation within the group, primarily in technology, effective resource development, logistics, insurance, trade and finance.

It is important to continue expanding the use of national currencies in mutual payments. It is believed that creating an independent payment and monetary system within BRICS will expedite currency transactions while also ensuring their effectiveness and security. Furthermore, using national currencies in trade within BRICS is steadily growing. In 2024, the share of Russia’s national currency, the ruble, and the currencies of our friendly states in transactions with Russia and other BRICS countries reached 90 percent.

Multiplying mutual capital investment by the BRICS countries, including through BRICS mechanisms, primarily, the New Development Bank appears to be an important goal as well. To this end, Russia proposed creating a whole new BRICS investment platform. The idea behind it is to jointly develop coordinated instruments to support and to bring in the funds from the economies of BRICS countries and from the Global South and Global East countries.

Importantly, our Brazilian colleagues were receptive of the initiatives put forward during Russia’s chairmanship last year and continued to implement them. The common achievements include launching a special mechanism for holding consultations on World Trade Organisation matters. The processes for creating a grain exchange, a climate research centre, a permanent logistics platform, and a sports cooperation programme in BRICS are moving forward.

Please note that there are other valuable ideas proposed by Russia, which include the formation of a carbon market partnership, an arbitration investment centre, a fair competition platform, and a permanent tax secretariat within BRICS. We count on our BRICS colleagues supporting these promising initiatives.

One more thing. In September, Moscow will host Intervision, a popular international television song contest which has got the attention of numerous performers from BRICS and BRICS partner countries who confirmed their willingness to participate in it. A humanitarian project of that magnitude is designed to promote universal, cultural, family, and spiritual values ​​shared by our countries.
I would like to close by thanking our colleagues from the BRICS member states for their productive and constructive interaction. We believe that the Rio de Janeiro Summit final declaration, which is ready for approval, provides a good premise for further joint work in the spirit of continuity and equal cooperation which is characteristic of BRICS.

Thank you.

Turkey
Source: www.aa.com.tr

ISTANBUL

Leaders and representatives from the BRICS alliance are gathering Sunday and Monday in Rio de Janeiro for the group's 17th annual summit.

The summit comes amid rising geopolitical tensions, including the recent Israeli and US strikes on Iran, which has been a BRICS member since 2024, along with the genocide in the Gaza Strip, and the war in Ukraine.

The return of Donald Trump to the White House and his renewed tariff threats have also raised concerns for the group.

The two-day talks will be hosted by Brazilian President Luiz Inacio Lula da Silva, with trade and investment, financial cooperation, AI and technology, global health and climate action on the agenda.

What is the BRICS alliance?

BRICS was originally formed in 2009 by Brazil, Russia, India and China, with South Africa joining the following year.

It has grown to 11 members, including Saudi Arabia, Egypt, Ethiopia, Iran, the United Arab Emirates, and Indonesia -- the latest member to join the bloc.

An additional 10 countries, among them Vietnam, Nigeria and Malaysia, have joined as official "partner countries," a new category introduced at the 16th BRICS summit in Russia.

The bloc, which sees itself as a voice for the Global South, accounts for around 44% of global GDP and more than 56% of the world’s population.

It advocates for a multipolar global order and expansionism, and seeks to counter Western influence on the global front.

Who is attending summit, who is not?

Notably absent from the summit will be two founding leaders, Russian President Vladimir Putin and Chinese President Xi Jinping.

Putin, who faces an International Criminal Court (ICC) arrest warrant, will participate virtually, according to media reports. Meanwhile, the Russian delegation in Brazil will be represented by Foreign Minister Sergey Lavrov.

Xi will skip the summit, his first time missing the meeting as Chinese president in 12 years.
According to media reports, Beijing had reportedly informed the Brazilian government that Xi would be absent from the event due to a scheduling conflict. Chinese Prime Minister Li Qiang is expected to attend in his place.

Iran's President Masoud Pezeshkian is also reportedly going to miss the summit.

Those attending include Indian Prime Minister Narendra Modi, South African President Cyril Ramaphosa and UN Secretary-General Antonio Guterres.

What's on the agenda?

The group seeks better cooperation among Global South countries by creating alternative financial systems, reducing dollar dependency and greater representation in global institutions.

With the theme for this year's summit, “Strengthening Global South Cooperation for More Inclusive and Sustainable Governance,” the BRICS nations are set to discuss a wide range of topics
Brazil is said to focus on six key topics, including global health cooperation, trade, investment and finance, and climate change. It is also emphasizing artificial intelligence, governance, multilateral peace and security architecture, and institutional development.​​​​​​​

USA
Source: edition.cnn.com

A summit of leaders from the BRICS group of major emerging economies kicks off in Brazil Sunday – but without the top leader of its most powerful member.

For the first time in more than one decade of rule, Chinese leader Xi Jinping – who has made BRICS a centerpiece of his push to reshape the global balance of power – will not attend the annual leaders’ gathering.

Xi’s absence from the two-day summit in Rio de Janeiro comes at a critical moment for BRICS, which owes its acronym to early members Brazil, Russia, India, China and South Africa, and since 2024 has expanded to include Egypt, the United Arab Emirates, Ethiopia, Indonesia and Iran.

Some members are up against a July 9 deadline to negotiate US tariffs set to be imposed by US President Donald Trump, and all face the global economic uncertainty brought on by his upending of American trade relations – putting the club under more pressure show solidarity.

Xi’s absence means the Chinese leader is missing a key opportunity to showcase China as a stable alternative leader to the US. That’s an image Beijing has long looked to project to the Global South, and one recently elevated by Trump’s shift to an “America First” policy and the US decision last month to join Israel in bombing Iranian nuclear facilities.

But the Chinese leader’s decision not to attend – sending his No. 2 official Li Qiang instead – doesn’t mean Beijing has downgraded the significance it places on BRICS, observers say, or that it’s less important to Beijing’s bid to build out groups to counterbalance Western power.

“(BRICS) is part and parcel of Beijing’s effort to make sure it isn’t hemmed in by the US allies,” said Chong Ja Ian, an associate professor at the National University of Singapore.

But that pressure may have lessened with Trump in office, Chong added, referencing the US president’s shake-up of relations even with key partners, and for Xi, BRICS may just not be “his greatest priority” as he focuses on steering China’s domestic economy. Beijing may also have low expectations for major breakthroughs at this year’s summit, he said.

BRICS attendance sheet

Xi is not the only head of state expected to be absent in Rio.

The Chinese leader’s closest ally in the group, Russia’s Vladimir Putin, will only attend via video link, for the same reason he also joined a 2023 BRICS gathering in South Africa remotely. Brazil, like South Africa, is a signatory to the International Criminal Court and so would be obligated to arrest Putin on a court charge alleging war crimes in Ukraine.

The absence of two global heavy hitters leaves ample limelight for Indian Prime Minister Narendra Modi, who will visit Brazil both for the summit and a state visit. South African President Cyril Ramaphosa is also expected to attend.

Some new club members have yet to announce their plans, though Indonesia’s Prabowo Subianto is expected in Rio after Southeast Asia’s largest economy officially joined BRICS earlier this year. BRICS partner countries, including some who aspire to join the group, will also send delegations. Uncertainty remains over whether Saudi Arabia has accepted an invitation to become a full member.

The sting of Xi’s absence for Brazil’s President Luiz Inácio Lula da Silva may be blunted by the fact that the Chinese leader visited Brazil in November for the G20 summit and a state visit, when he and Lula inked a raft of cooperation agreements. The Brazilian leader also visited China in May, after attending a military parade in Moscow alongside Xi.

That recent diplomacy, low expectations for major breakthroughs at this year’s summit, and a heightened focus on domestic issues all likely factored into Xi’s decision to send Li, a trusted second-in-command, observers say.

China is facing steep economic challenges in the face of trade frictions with the US – and its leaders are busy charting a course for the five years ahead of a key political conclave expected this year.
In Rio, Li will likely be charged with advancing priorities like shoring up energy ties between Beijing and BRICS’ major oil-exporting members, while pushing for the expanded use of China’s offshore and digital currency for trade within the group, according to Brian Wong, an assistant professor at the University of Hong Kong, who added that Xi’s absence shouldn’t be interpreted as a snub to BRICS.
“Whether it be the Sino-Russian partnership or Beijing’s desire to project its purported leadership of the Global South, there is much in BRICS+ that resonates with Xi’s foreign policy worldview,” said Wong, using a term for the extended group.

De-dollarization?

Launched in 2009 as an economic coalition of Brazil, Russia, India and China before South Africa joined a year later, BRICS roughly positions itself as the Global South’s answer to the Group of Seven (G7) major developed economies.

It’s taken on greater significance as countries have increasingly pushed for a “multipolar world” where power is more distributed – and as Beijing and Moscow have looked to bolster their international clout alongside deepening tensions with the West.

But BRICS’ composition – a mix of countries with vastly different political and economic systems, and with occasional friction between each other – and its recent expansion have also drawn criticism as leaving the group too unwieldy to be effective.

The disparate group’s efforts to speak with one voice distinct from that of the West often become mired in opposing views. A statement last month expressed “grave concern” over the military strikes against BRICS member Iran, but stopped short of specifically naming the US or Israel, the two countries that carried out the strikes.

Nonetheless, the US will be watching how the countries talk about one issue that has typically united them: moving their trade and finance to national currencies – and away from the dollar. Such de-dollarization is particularly attractive to member countries such as Russia and Iran, which are heavily sanctioned by the US.

Earlier this year, among the goals of Brazil’s host term, Lula included “increasing payment options” to reduce “vulnerabilities and costs.” Russia last year pushed for the development of a unique cross-border payments system, when it hosted the club.

What’s unlikely to be on the negotiating table, however, is the lofty goal of a “BRICS currency” – an idea suggested by Lula in 2023 that has drawn ire from Trump even as other BRICS leaders have not signaled it’s a group priority.

The US president in January threatened to place “100% tariffs” on “seemingly hostile” BRICS countries if they supported a BRICS currency, or backed another currency to replace “the mighty U.S. Dollar.”

As countries convene in Rio, observers will be tracking how strident their leaders are in promoting the use of national currencies at a meeting of a group where China is the leading member, but US global economic clout still looms large.

Russia
Source: russiancouncil.ru

The Evolution of BRICS and its Role in International Relations

The upcoming summit is already proving itself to be quite interesting; it will be the first meeting between the leaders of major non-Western nations following the recent reprisal against Iran. Although Iran has not acknowledged its defeat, this is essentially a success for the US and its allies, who are effectively implementing a long-term strategy of eliminating the West’s enemies one by one. To some extent, this is also a source of humiliation for BRICS, as it avoided direct involvement in the conflict, even though Iran just became a member of the association last year. Instead, BRICS limited itself to expressing only “serious concern” along with “encouraging diplomacy and peaceful dialogue.” The upcoming summit is unlikely to change this assessment. The fact that neither Vladimir Putin nor Xi Jinping will be attending Rio downplays the dramatic impact of a gathering of Global South leaders, who are unlikely to challenge the collective West on their own.

Over the past three years, BRICS has undergone radical changes, and there are notions that these changes threaten to reduce the group’s flexibility and capability to address global issues. Due to its increased heterogeneity, there are differing views within the association, including on the Ukrainian conflict and the situation in Gaza. This, albeit indirectly, is even acknowledged at the official level; in June, Foreign Minister Sergey Lavrov mentioned the contentious issues with other friendly states, although in the context that a balance of interests can always be found. Furthermore, according to Sergey Ryabkov, “BRICS manages—even despite significant enlargement—to avoid the negative, destructive, detrimental impact of certain bilateral problems that individual BRICS members face in their relations with each other on the overall work of the association.”

Russia maintains the view that the main priority of BRICS development is to use it as an instrument of the global world order, to “score points” in the common cause of weakening the dominance of Western states. Mr. Lavrov describes BRICS as one of the pillars of the multipolar world, a guide for the interests of the global majority in the international arena, emphasizing that they “are forming mechanisms for conducting foreign trade operations that are independent of the West, laying out new transport and logistics chains, and creating a new architecture for interaction in culture, education, and sports.” In practice, BRICS is perceived more as a platform for settling contradictions and developing a common opinion on global and local issues. From this perspective, the Rio summit, even in the absence of any breakthroughs on the “all-BRICS” topics, is important for resolving specific issues of interaction with the countries of the “Global Southeast.”

This fits quite well into the logic of other countries from the South, which see BRICS primarily as a platform for advancing their own national interests in various situations, rather than defending jointly developed common approaches. At the same time, some new BRICS members are not yet in a position to fully participate in the development of such approaches. However, they are able to slow down or discourage the promotion of certain elements that, for whatever reason, do not suit them. For many BRICS partners from the Global South, the line of external behavior is dictated by their desire to avoid taking sides in the conflict between the collective West and the “revisionists” of international relations (primarily China and Russia). Their goal in partnering with BRICS is to diversify their capabilities, maintain contacts, and influence the decisions of both opposing sides while avoiding support for either. Therefore, with the increasing number of member states and partners, the association is becoming more amorphous, as is evident in the preparations for the current summit. This evolution is more acceptable to the West—some of its scholars acknowledge that a return to the “neoliberal” order is highly unlikely, but while “multipolar systems may create overlapping rules, competition, and even instability, they also open up space for more pluralism, greater regional interaction, and a higher resilience to failures.”

Political Aspects

The summit will be the first major gathering after the full integration of the new 2024 members, and the temp of their inclusion in the association's activities will differ for each state. The modalities for partners to engage in activities are not yet formalized and the rules have not been established. Much depends on the persistence of the state leaders, their diplomatic experience, as well as their connections with BRICS “founders,” including in the foreign policy and foreign economic apparatus.

As the number of member states continues to grow, questions increasingly arise regarding the principle of consensus decision-making. Some experts question whether the majority principle can be applied in some circumstances, such as Brazil's de facto “veto” of Venezuela's accession to BRICS, while the overwhelming majority did not object to it.

In a world of uncertainty, the defining theme of the summit may be the discussion of measures to change global governance to reflect the realities of a multipolar world, as well as the long overdue reform of the UN, IMF, and World Bank.

During the current chairmanship, the issue of reforming the UN has become particularly acute. Differing approaches of BRICS member states to Security Council reform did not allow members to reach a full consensus on a common position at the BRICS Ministerial Council meeting in April.

Essentially, all BRICS member states agree that the current UN structure (especially the Security Council’s composition) is outdated, reflecting only the realities of 1945 rather than those of the modern world. The main grievances include: unfair representation (Africa, Latin America, and the Muslim world have almost no say in the UN Security Council); veto power abuses by the US, France, and the UK for the sake of promoting individual state interests; and US dollar dominance in the global economy, due to US hegemony in the UN and its institutions, such as the IMF. Russia supports limited enlargement (for example, the inclusion of India and Brazil) but fears that an overly large Security Council would become unwieldy. Formally, China supports reform but implicitly sabotages specific initiatives, as it does not want to share power with new permanent member states (especially with India). India is actively seeking permanent member status in the UN Security Council and has the support of the US, Russia, and France. China, however, proposes creating temporary seats for developing nations instead. Brazil and South Africa want to join the UN Security Council as permanent members but face opposition from the US and EU member states. France supports Brazil, but the US objects, fearing the growing influence of the “Global South.” Within BRICS, Iran and Saudi Arabia have opposing views on the Middle East, which may complicate the formulation of a common policy. Ethiopia and Egypt want to represent Africa in the UN Security Council but are competing with each other, as well as with Nigeria.

The current impasse is largely related to the position of African nations under the so-called Ezulwini Consensus, formulated by the African Union in 2005. Africa demands at least two permanent seats with veto power and five non-permanent seats on an enlarged Security Council. These seats should represent the interests of the entire African continent, with the African Union itself suggesting candidates on a rotating basis. Without directly stating so, current and even prospective permanent UN Security Council members do not consider this approach practical.

Officially, Russia advocates the view that the formation of a multipolar world order implies a larger representation of the Global South and East in the Security Council. Russia supports Brazil and India as worthy candidates for permanent membership in the Security Council, provided “a positive decision regarding representation from the African continent is made.” Naturally, Russia opposes the candidacy of Germany and Japan “due to the revival of militarism in these countries and their overtly unfriendly policies.”

BRICS member states can essentially propose the following options:

• Include India, Brazil, South Africa + 1-2 African countries (though China and the US may veto).
• Propose a new category of members—“semi-permanent” (elected for a long term of 10-15 years with no veto power)—but this will not satisfy the ambitions of India and Brazil.
• Propose alternative structures (for example, a BRICS Council)—a parallel decision-making body that would bypass the West.

The 2025 Rio summit could become a platform for developing a unified position on this matter, given the increasing ineffectiveness of the UN, but the process will be slow and controversial.

As for reforming international financial organizations (IFOs), BRICS member states, including the new arrivals, are known to emphasize the urgency and importance of changing quota distribution to better reflect the relative position of the member states in the global economy, while maintaining the quota shares of developing countries, especially the poorest ones. Many acknowledge that quota reform, redistributing them in favor of the Global South, “has made no headway... for years and decades.” BRICS does not intend to let this go, though its member states clearly have no leverage to influence the position of Western nations that run the IMF and other financial institutions.

Strengthening cooperation on cyber security and counter-terrorism will also be among the important items on the summit's agenda. The latter topic could also become a stumbling block due to the India-Pakistan conflict, as India accuses Pakistan of terrorism, which is unacceptable to Pakistan’s supporter, China, which will seek to smooth out the wording.

Other security issues will also be discussed (such as crises in the Middle East and North Africa, Ukraine, Africa). Representatives of the Global South, including Latin American and African nations, would prefer a more substantive discussion on national security issues related to the strategic mineral reserves of certain states (e.g. for Bolivia lithium is particularly relevant at this moment).

Current member state approaches to the enlargement issue are more or less uniform—a pause is needed, or BRICS activities will become chaotic. It is necessary to detail the rights and responsibilities of BRICS partners more thoroughly. So far, their interaction with the association has been tentative.

Practical Areas of Cooperation

Measures to establish sustainable payment mechanisms are particularly important for Russia. The summit is likely to make decisions on countering sanctions, including special mechanisms to reduce dependence on Western financial systems. This concerns alternative payment systems—new steps may be taken to develop settlements in national currencies. There are tasks related to the formation of payment instruments, payment platforms, including research on issues such as the creation of a cross-border payment system, an electronic inter-depository interaction system for BRICS (BRICS Clear), and the development of a unified mechanism for exchanging trade and economic information. The discussion may also include the creation of alternative digital platforms (a SWIFT analog for BRICS; the development of CBDC, or central bank digital currencies, for intra-bloc settlements).

Russia believes that the main direction should be the use of national currencies in settlements: in trade and in Russia’s transactions with BRICS member states, the share of the ruble and currencies of friendly countries accounted for 90% by the end of 2024 (the declaration of the Kazan BRICS 2024 summit mentions the Cross-Border Payment Initiative, payment and clearing infrastructure, reinsurance company, and New Investment Platform. These initiatives aim to create favorable conditions for increasing trade and investment turnovers between BRICS nations). Progress towards a common currency or settlement unit for BRICS, which Russia is interested in and has been promoting, is currently stalled due to the skeptical attitudes of most BRICS countries, which are tightly bound to the dollar system.

Measures will be outlined to strengthen the New Development Bank, including for financial infrastructure development. As per tradition, attention will be paid to e-commerce.

Also, the food issue will not go unnoticed; there will be discussions about taking measures to minimize disruptions and promote rule-based trade in agricultural products and fertilizers.

Special attention will be given to ICTs and the digital economy for the sake of bridging the digital divide between developed and developing nations. The focus will be on the development of artificial intelligence (AI), to mitigate risks associated with malicious use, misinformation, confidential information leakages, prejudices, and discrimination. According to Russian industry leaders, the introduction of AI may bring in 2-3 trillion USD to BRICS economies by 2030. The topic of joint research in AI is important (there are expectations that China may propose a common algorithm development platform; India might offer training programs; Russia—solutions in cybersecurity and military applications of AI). The establishment of a working group on AI is quite possible. Countries will also discuss cyber sovereignty issues (for example, common data protection standards—an alternative to the GDPR). In the meantime, conflict between the openness of the internet (India) and its control (China, Russia) remains, along with the technological lag of Africa and Latin America.

In traditional BRICS areas related to ecology and sustainable development, discussions are planned on joint green energy projects, as well as climate policy coordination. Possible initiatives could include the establishment of a BRICS Green Energy fund (financed through the BRICS New Development Bank), promoting a special focus on hydropower (Brazil, Russia), solar energy (India, China, South Africa), wind power (Egypt, UAE), and hydrogen energy development. On the agenda is the integration of energy networks—for example, connecting African countries (South Africa, Ethiopia, Egypt) to a unified energy system by using Chinese and Russian technologies. Clearly, competition from Western companies, the application of sanctions against Russian participation, and differing standards among BRICS countries will hinder progress in this matter.

On the climate agenda, which Brazil’s presidency places special importance on, since the COP30 forum will be held there this year, it is likely to promote “climate multipolarity”— that is, different policies pursued by different countries. A common position may be developed regarding demands on the West to increase payments to developing nations (as previous promises have not been kept); creating an alternative fund through the BRICS New Development Bank; protecting the right to fossil fuels; criticizing EU carbon taxes as “neocolonialism,” and proposals for alternative carbon credit schemes (for example, through BRICS). Russia, Saudi Arabia, Iran, and China will insist on a gradual phasing out of oil and gas rather than strict bans. Brazil may emphasize the issue of compensation for Amazon conservation. There may be disputes between China and nations advocating for a rapid phase-out of coal, as well as between India and Arab states concerning the pace at which oil is relinquished, among other issues. A unified position at COP30 is desirable (for instance, demanding USD 1 trillion in climate payments from the West), as well as a rejection of unilateral carbon taxes (such as the EU’s CBAM).

Discussions on cultural and scientific cooperation will also take place, although the role of the expert track (such as Academic Forums) has noticeably decreased compared to the initial period of BRICS formation. However, increasing exchanges between universities and research centers, supporting the civil society track and youth initiatives (such as the BRICS Young Diplomats Forum) are on the agenda.

Brazil
Source: brics.br

Lula Opens BRICS Summit With Call for Investment in Peace and Security
In Rio de Janeiro, the President of Brasil opened the 17th BRICS Leaders’ Summit with an overview of the multilateralism crisis and recent conflicts, positioning BRICS as a force for the promotion of peace

At the opening of the 17th BRICS Summit this Sunday, July 7, in Rio de Janeiro, President Luiz Inácio Lula da Silva presented an overview of the multilateralism crisis, highlighting the emergence of multiple conflicts and their impacts on national autonomy, security, and the global economy.
During the plenary session entitled “Peace, Security, and the Reform of Global Governance,” Lula was unequivocal in urging countries to shift spending away from military efforts and toward the implementation of the United Nations’ 2030 Agenda—not toward war.

“It is easier to allocate 5% of GDP to military spending than to commit the 0.7% promised for Official Development Assistance. This shows that the resources to implement the 2030 Agenda do exist—they are simply not made available due to a lack of political will. It is always easier to invest in war than in peace,” said the Brazilian president.

Lula also underscored the role of the founding BRICS countries in building “a new multipolar reality for the 21st century.” Advocating for a reform in global governance, he emphasized the bloc’s ability to become “a force capable of promoting peace and of preventing and mediating conflicts” thanks to its diverse realities.

“We can lay the groundwork for a renewed system of governance. To overcome the crisis of trust we now face, we must fundamentally reform the Security Council by making it more legitimate, representative, effective, and democratic,” Lula argued.

For the fourth time, Brasil is hosting a BRICS Summit. Of all of them, this one is taking place amid the most adverse scenario.

The United Nations recently marked its 80th anniversary on June 26 of this year, and we are witnessing an unprecedented collapse of multilateralism.

The advent of the UN marked the defeat of Nazi-Fascism and the birth of a sense of collective hope.
The vast majority of countries that currently comprise the BRICS were among its founders.

Ten years later, the Bandung Conference refuted the division of the world into zones of influence and advanced the fight for a multipolar international order.

BRICS is an heir of the Non-Aligned Movement.

With multilateralism under attack, our autonomy is once again in check.

Advancements that were arduously achieved, such as the climate and trade regimes, are at risk.
Amid the worst sanitary crisis in decades, the global health system is being subjected to an unprecedented attack.

Absurd intellectual property demands still restrict access to medication.

International law has become a dead letter, as has the pacific resolution of controversies.

We are before an unprecedented number of conflicts since World War II.

NATO’s recent decision feeds the arms race.

It is easier to designate 5% of the GDP to military spending than to allocate the 0.7% that has been promised for Official Development Assistance.

This demonstrates that the resources for the implementation of the 2030 Agenda do exist; however, they are not available due to a lack of political priority.

It is always easier to invest in war than in peace.

The UN Security Council meetings often follow a script we know all too well: they end in a loss of credibility and paralysis.

Lately, the Council is not even consulted before acts of war begin.

Old rhetorical maneuvers are just being recycled to justify illegal interventions.

Just as we saw with the Organization for the Prohibition of Chemical Weapons in the past, the instrumentalization of the International Atomic Energy Agency's work now risks the reputation of an organization that is fundamental for maintaining peace.

The fear of a nuclear catastrophe has returned to our daily lives.

To the detriment of negotiated solutions, recurring violations of state territorial integrity are undermining efforts to stop the proliferation of atomic weapons.

Without the support of International Law, the failure of the actions in Afghanistan, Iraq, Libya, and Syria tends to repeat itself with even graver impacts.

The consequences for the stability of the Middle East and North Africa, particularly in the Sahel, have been disastrous and are felt to this day.

In the void left by unresolved crises, terrorism has found fertile ground.

Hate ideology must not be associated with any religion or nationality.

Brasil repudiated the attacks in Kashmir.

Absolutely nothing justifies the terrorist actions perpetrated by Hamas.

However, we cannot remain indifferent to the genocidal practices by Israel in Gaza, the indiscriminate killing of innocent civilians, and the use of starvation as a weapon of war.

The solution to this conflict will only be possible with the end of the Israeli occupation and the establishment of a sovereign Palestinian State within the 1967 borders.

The Brazilian Government denounced the violations of Iran's territorial integrity, just as it had done in the case of Ukraine.

The parties engaged in the war in Ukraine must urgently deepen a direct dialogue that aims for a ceasefire and a lasting peace.

The "Friends for Peace" group, formed by China and Brasil and comprising countries from the Global South, aims to identify potential avenues for ending hostilities.

Meanwhile, other extremely serious crises around the world remain ignored by the international community.

In Haiti, we had MINUSTAH — but the international community abandoned the country too soon. Brasil supports the urgent expansion of the role of the UN Mission in that country, combining actions in the fields of security and development.

Ladies and Gentlemen,

During the eight decades of functioning of the United Nations, not everything was a failure.
The Organization played a central role in the decolonization process.

The prohibition of the use of biological and chemical weapons is an example of what the commitment to multilateralism can achieve.

The success of UN missions in East Timor demonstrates that it is possible to promote peace and stability.

Since 1968, Latin America has chosen to be a Nuclear Weapons Free Zone.

The African Union also consolidates its leadership in conflict prevention and resolution on the continent.

If international governance does not reflect the 21st century’s new multipolar reality, it is up to the BRICS to contribute to bringing it up to date.

The bloc’s representativeness and diversity make it a powerful platform, capable of promoting peace, preventing, and mediating conflicts.

We have the opportunity to lay the foundations of a reinvigorated governance model.

To overcome the trust crisis we are immersed in, we must promote deep transformations in the Security Council.

Increase its legitimacy, representativeness, effectiveness, and democratic character.

Include new permanent members from Asia, Africa, Latin America, and the Caribbean.

This is more than a question of justice.

This will ensure the very survival of the UN system.

This is the spirit of the “Call to Action on Global Governance Reform”, launched by Brasil’s G20 Presidency.

Postponing this process makes the world much more unstable and dangerous.

Each day that goes by with an archaic and excluding international structure is a day lost in the search for solutions to the grave crises that beset humanity.

Thank you very much.

Brazil
Source: brics.br

This innovation will facilitate energy transition projects, resilient infrastructure, and the promotion of renewables across the Global South. Deputy finance ministers and central bank representatives are finalizing key details ahead of Saturday’s BRICS Finance Ministerial Meeting

The BRICS technical finance meeting—bringing together deputy ministers and central bank representatives—concluded this Friday, July 4, with a strong indication of a new agreement among BRICS countries to create a multilateral financial guarantee mechanism. The initiative aims to support sustainable development projects, including energy transition, the expansion of renewable energy, and the strengthening of resilient infrastructure.

“We held a joint session on COP30 climate financing to review the agenda developed over the past six months. We’ve prepared a technical report to help align the positions of finance ministries and central banks, with the goal of contributing to the Leaders’ Declaration,” explained Tatiana Rosito, Secretary for International Affairs at the Ministry of Finance.

This agenda outlines specific instruments, such as BRICS guarantees designed to drive investment in climate-related initiatives—ranging from resilient infrastructure and nature-based solutions to adaptation and the energy transition,” Rosito added.

She explained that the mechanism is designed to increase the availability of resources for BRICS countries and reduce capital costs by lowering financial risk. The model functions similarly to the World Bank’s Multilateral Investment Guarantee Agency (MIGA), which provides credit guarantees to spur investment in developing countries.

The mechanism will be officially launched this Saturday, July 5, during the BRICS Finance Ministers Meeting. The terms of its operation and the specific guarantees to be offered will be further defined in the coming months following ministerial endorsement. On the environmental front, carbon markets are also being discussed as part of the lead-up to COP30.

Brazil
Source: brics.br

Public-private collaboration is underscored as a critical enabler for expediting inclusive economic growth and advancing sustainable social development. Luiz Inácio Lula da Silva, President of the Federative Republic of Brazil, attended the event

Through dialogue and coordinated action between governments and the private sector, challenges can be transformed into shared solutions. This guiding vision underscores the BRICS Business Forum, convened today, 5 July, in Rio de Janeiro. It marks the final event under the umbrella of complementary activities preceding the BRICS Leaders’ Summit and serves as the last event attended by Luiz Inácio Lula da Silva, President of the Republic of Brazil, ahead of the Leaders’ Summit commencing tomorrow, 6 July.

The gathering, which brings together government officials, subject-matter experts, and business leaders from across the Global South, spotlights key themes, including international trade and food security; energy transition and decarbonization; digital economy and skill development; financing, and financial inclusion. Over the past year, while the global economy grew by 3.3%, BRICS nations recorded an average expansion of 4%. This figure serves as a barometer of the economic potential of developing countries in the current landscape—countries which, through closer collaboration, may further enhance their performance within the global economy.

Ricardo Alban, President of the National Confederation of Industry (CNI), presented data reinforcing this outlook. He further emphasized that the inclusion of new member and partner states, characterized by robust and sizeable markets, significantly augments opportunities for strategic partnerships and investment flows. The CNI, which presides over the BRICS Business Council (CEBRICS) and the Women’s Business Alliance (WBA), serves as the Forum’s principal organizer.

“In 2023, based on the most recent available data, intra-BRICS trade reached approximately USD 1 trillion—accounting for 20% of the bloc’s total exports and 30% of its aggregate imports. Accordingly, strengthening cooperation is deemed essential to advancing productive integration,” stated Mr. Alban, who further underscored that this volume of exchange remains modest when measured against the potential of deeper economic coordination.

Luiz Inácio Lula da Silva, President of the Republic of Brazil, engaged with representatives of the private sector, reiterating the role of BRICS as a central platform for convergence among complementary, prosperous, and dynamic economies. He further affirmed the connection between peace and development, underscoring the imperative of strengthening multilateralism as a foundational element for the sustained success of Global South economies. “In the wake of rising protectionism,” he stated, “it is incumbent upon emerging nations to uphold the multilateral trading system and pursue reform of the international financial architecture. BRICS continues to serve as guarantor of a promising future. The fight against inequality reinforces consumer markets, stimulates trade, and drives investment”.

"In the wake of rising protectionism, it is incumbent upon emerging nations to uphold the multilateral trading system and pursue reform of the international financial architecture. BRICS continues to serve as guarantor of a promising future. The fight against inequality reinforces consumer markets, stimulates trade, and drives investment"

— LUIZ INÁCIO LULA DA SILVA, President of the Republic of Brazil

Representing the partner countries of the group at the opening session was Anwar Ibrahim, Malaysia’s Prime Minister, who reaffirmed the call for a revitalized multilateralism, emphasizing that strengthened ties among Global South nations do not imply the dissolution of commercial relations with the North. “Today, we have political leadership aligned with this vision and a robust business community. I firmly believe that collaboration among women, youth, government, the private sector, and civil society will make a meaningful difference,” asserted the Prime Minister.

Women in international trade

According to data from the World Trade Organization (WTO), only 15% of companies engaged in international trade are led by women—a figure that, within the Global South, reflects a similarly disproportionate representation of women in senior leadership positions across the private sector. In response, the Women’s Business Alliance (WBA) adopted the following theme for this year: ‘Building Global Bridges: Women Strengthening the Economic Frontiers of BRICS. The focus is on business promotion, the development of policy recommendations, the formulation of cooperation projects, and the integration of new member states.

Mônica Monteiro, Chair of the WBA, cited findings from a McKinsey Institute report indicating that gender parity in the labor market could contribute an additional USD 28 trillion to the world’s GDP by 2025. “We, as women, continue to face barriers such as limited access to credit, networks, and major global value chains. Yet, as I have stated on previous occasions, we are fully ready,” she concluded.

At the close of the day, the awards ceremony for the “BRICS Women’s Startup Contest" will be held, a joint initiative of the Brazilian Micro and Small Business Support Service (SEBRAE) and the Alliance, which received over one thousand international applications. The 18 finalists have been in Rio de Janeiro since the beginning of the month, participating in a technical mission that includes visits to innovation hubs and presentations of their projects to investors and business leaders.

Business sector’s committment to COP30

As Brazil’s presidency of the BRICS approaches the conclusion of its intergovernmental agreements, attention is increasingly turning to the next major international event hosted by Brazil this year—the 30th United Nations Climate Change Conference (COP30). In this context, the National Confederation of Industry (CNI) has launched the Sustainable Business COP30 (SB COP30), an initiative aimed at securing a structured and influential role for the private sector in global climate negotiations.

“This initiative draws inspiration from mechanisms such as the Business 20 engagement group, which we coordinated during last year’s G20 Social, as well as the BRICS Business Council itself. It enriches the dialogue with our political leadership and supports the formulation of practical measures to advance toward shared development,” Alban explained, whle acknowledging that the majority of commitments undertaken during COP are the responsibility of the private sector.

The initiative will be implemented through seven strategic pillars, each led by business leaders of internationally recognized expertise. Under their guidance and facilitation, each group will identify priority themes for discussion.

Translation: Michel Emmanuel Félix François (POET/UFC)
Proofreading: Enora Lessinger (POET/UFC)

Brazil
Source: brics.br

According to Lula, the bank has already invested $40 billion in climate-related initiatives. The current head of the institution, Dilma Rousseff—former president of Brasil—stated that the NDB must be at the forefront of investments in climate action and energy transition

The 10th Annual Meeting of the New Development Bank (NDB) opened on Friday, July 4, in Rio de Janeiro with a clear focus: climate financing. Participants highlighted the bank’s growing portfolio in clean energy, energy efficiency, environmental protection, and water supply—investments that now total around $40 billion. According to President Luiz Inácio Lula da Silva, the bank’s current goal of allocating 40% of its financing to sustainable development initiatives will be included in the final declaration of the BRICS Summit, to be held on July 6 and 7, also in Rio.

Founded in 2015 by the original five BRICS countries—Brasil, Russia, India, China, and South Africa—the NDB was established as a multilateral lender to fund infrastructure and sustainable development projects in emerging and developing economies. Dilma Rousseff, former president of Brasil and now head of the bank, emphasized that the institution must lead global investment efforts in climate adaptation and energy transition, with a special focus on countries most affected by extreme weather events. Lula noted the bank’s swift response to the 2024 floods in Rio Grande do Sul, underscoring its agility in delivering emergency funds.

Under the United Nations Framework Convention on Climate Change (UNFCCC), climate finance refers to all public or private, national or international, bilateral, multilateral, or unified investment aimed at supporting actions to mitigate or adapt to climate change.

In Brasil, the NDB has already approved 29 projects totaling $6.4 billion through its Board of Directors. One of the most recent is the Pará Sanitation Development Project, approved in March, which includes a $50 million investment to improve basic sanitation in Belém—the host city of the UN Climate Conference (COP30) in November—as well as in seven other municipalities in the state.
The bank raises capital both from its member countries and through international markets. One of its strategies includes the issuance of bonds in local currencies, aligned with its strategy to diversify transaction modalities beyond the US dollar. For the 2022–2026 strategic cycle, the institution has set a funding target of $30 billion.

The institution comprises ten member states: in addition to the five founding countries, Bangladesh, the United Arab Emirates, Egypt, Algeria, and, most recently, Uruguay—which is currently undergoing the accession process. The expansion is expected to continue through at least 2026 as the bank seeks to grow its influence and solidify its role as a key platform for cooperation among emerging and developing economies.

Brazil
Source: brics.br

The New Development Bank (NDB)’s "fairer" financial model is in the spotlight on the occasion of its tenth anniversary

President Luiz Inácio Lula da Silva held a meeting with the President of the New Development Bank (NDB), Dilma Rousseff, in Rio de Janeiro, to celebrate the progress made by the “BRICS Bank”.The discussion surrounding the reform of global financial institutions is among the priorities within the framework of BRICS negotiation

President Luiz Inácio Lula da Silva took part in the opening session of the tenth anniversary of the New Development Bank (NDB), held in Rio de Janeiro on the morning of Friday, 4 July, alongside the President of the institution, Ms. Dilma Rousseff. On this occasion, the President underscored the relevance of the 'BRICS Bank' in facilitating reforms of international financial institutions, a matter currently under negotiation for inclusion in the Final Declaration of the BRICS Summit scheduled for
this year.

“The New Development Bank (NDB) was established in Brazil during the 2014 Fortaleza Summit, representing a landmark initiative in the collective engagement of emerging economies. Its creation reflects a shared commitment to address the substantial shortfall in financing for sustainable development. For decades, the absence of effective reform within traditional financial institutions has constrained both the volume and the diversity of credit available through our multilateral banks,” stated President Luiz Inácio Lula da Silva. He further underscored the Bank’s strategic role in partnering with the launch of the Global Alliance Against Hunger and Poverty during Brasil’s G20 Presidency last year, as well as its involvement in the BRICS Tuberculosis Research Network.
Dilma Rousseff, who currently serves as President of the New Development Bank (NDB), held the office of President of the Federative Republic of Brasil at the time of the Bank’s creation. She recalled that "the creation of the New Development Bank was not merely an institutional milestone, but first and foremost a far-reaching political declaration of intent and practice".

“We are only at the beginning. During its first decade, the New Development Bank (NDB) laid the groundwork for its institutional development. In coming decade, it is essential that we consolidate our leadership role in fostering equitable, sustainable, and autonomous development within a multipolar world. This entails developing an institution that is not only financially robust, but also polically relevant and transformative," added Rousseff.

Lula underscored the significance of the New Development Bank (NDB) in the international debate on reforming global financial institutions, a thematic priority under the BRICS Finance track. He remarked that “our Bank is not merely a major institution serving emerging economies; it stands as evidence that a reformed financial architecture and a more equitable development model are possible."

The Minister of Finance of the Federative Republic of Brazil, Fernando Haddad, also attended the ceremony and emphasized that the New Development Bank (NDB) has drawn on the experiences of other financial institutions, highlighting its commitment to promoting equity. He stated: "As we mark the tenth anniversary of the NDB, we reaffirm our conviction that it is indeed possible to establish a model of cooperation that is attuned to the specific needs of our countries. May the coming decade be characterized by heightened ambition, strengthened transformative partnerships, and an enduring positive impact for present and future generations", he concluded.

Finance Ministers from other BRICS member countries — including South Africa, India, and Russia — also attended the event. The BRICS technical meeting on Finance is scheduled for this afternoon, following the NDB session and the ministerial meeting on Saturday, 5 July.

Climate Financing

Climate financing, which forms part of the BRICS Final Declaration, was prominently addressed in the ongoing deliberations of both the New Development Bank (NDB) and the broader BRICS framework. According to President Luiz Inácio Lula da Silva, "The recently concluded Seville Conference underscored that the financial resources required to achieve the Sustainable Development Goals (SDGs) remain unrealistic at the pace and scale necessary. Rather than deepening disparities, the New Development Bank bases its governance on equality".

Today, the New Development Bank (NDB) plays an increasingly significant role in advancing a just and sovereign transition. Since its establishment, over 120 investment projects totaling USD 40 billion have been approved in areas such as clean energy, energy efficiency, transportation, environmental protection, water supply, and infrastructure. In Brazil alone, NDB resources have financed more than 20 projects across various sectors and regions, amounting to over USD 3.5 billion. Its prompt response to the severe flooding crisis in Rio Grande do Sul underscores its agility in the face of adversity,” stated President Lula.

NDB’s commitment to allocate 40% of its funding to sustainable development projects is aligned with the Climate Financing Declaration to be adopted at the BRICS Summit. This initiative serves as a catalyst for resource mobilization in the final stretch leading up to COP30, in Belém, at the heart of the Amazon," added the President, who reiterated Brazil’s challenge of reaching USD 1.3 trillion in global climate financing at COP30.

NDB President Dilma Rousseff also emphasized the importance of climate financing and stated her commitment to advance the agenda. “Climate financing, more than a mere promise, must serve as a tangible mechanism to support adaptation, energy transition, and resilience — especially in countries most affected by extreme climate events. The NDB must be at the forefront of this effort, scaling up investments in green infrastructure, clean energy, energy transition, and climate-smart technologies," she argued.

Translation: Michel Emmanuel Felix François (POET/UFC)
Proofreading: Enora Lessinger (POET/UFC)

Brazil
Source: brics.br

Ministers of Finance and Central Bank Governors underscore the importance of solidarity and the advancement of strong, sustainable, and more equitable global growth

On Saturday, 5 July, the Ministers of Finance and Central Bank Governors of BRICS member states endorsed three declarations containing commitments to strengthen multilateralism and foster economic development among member countries. In addition to the ministerial document, the group adopted a dedicated declaration in support of the United Nations Framework Convention on International Tax Cooperation, as well as the revision of IMF quotas, in support of reforming the international financial system.

“BRICS economies have become increasingly integrated into the global economy and now account for approximately one-quarter of global trade and investment flows. At the same time, member states acknowledge that further progress is needed to ensure that the benefits of globalization, economic growth, and productivity are distributed more equitably among all peoples,” the document affirms.
Among the measures adopted, member states reaffirmed their commitment to constructive and active engagement within international financial institutions and a rules-based multilateral trading system, with the aim of addressing the needs of developing countries and advancing intra-BRICS cooperation to foster development and enhance the resilience of their economies.

Member states also affirm their intention to pursue cooperative efforts aimed at easing trade tensions, including through the reinforcement of solidarity and the promotion of strong, sustainable, and more balanced global growth—thereby fostering an inclusive and universally beneficial economic globalization.

Another key highlight of the Joint Declaration by Ministers concerns the enhancement of coordination among official creditors and debtors—bilateral, multilateral, and private—with a view to assisting Emerging Markets and Developing Economies (EMDEs) in addressing debt-related challenges in a fair and constructive manner, under a development-oriented framework.

The Ministers also called upon international financial institutions to scale up support for adaptation efforts and to help foster an enabling environment that encourages greater private sector participation in mitigation initiatives. To mobilize large-scale private capital, BRICS intends to promote the use of diverse financial instruments—including blended finance mechanisms, guarantees, green bonds, local currency instruments, and interoperable taxonomies—while simultaneously advancing high-integrity voluntary carbon markets.

In the declaration, BRICS Ministers also highlighted the significance of COP30, to be held in Belém this November. They underscored the importance of enhanced engagement by Ministries of Finance and Central Banks in the discussions—particularly with regard to the Roadmap aimed at mobilizing USD 1.3 trillion.

The document further reaffirms the commitment to fiscal transparency and the promotion of a global dialogue on fair and effective taxation, advancing progressivity and contributing to the reduction of inequality. The group also aims to enhance global coordination among tax authorities, improve domestic revenue mobilization, ensure the equitable allocation of taxing rights, and combat tax evasion and illicit financial flows.

Finally, BRICS reaffirmed its commitment to strengthening social participation: “We pledge to continue proactive efforts to enhance social engagement within the BRICS process, deepen cooperation among expert communities and civil society across member states, and reinforce the People-to-People pillar within our economic and financial agenda”.

• Joint Declaration by BRICS Ministers of Finance and Central Bank Governors
• Declaration in Support of the United Nations Framework Convention on International Tax Cooperation
• BRICS Vision from Rio de Janeiro on IMF Quota and Governance Reform

English version: Michel Emmanuel Félix François
Proofreading by: Kelvis Santiago do Nascimento (POET/UFC)

Brazil
Source: brics.br

Led by Dilma Rousseff, the NDB reaffirmed its role in advancing sustainable development in the Global South by announcing the accession of Colombia and Uzbekistan. With an equal-governance model and no political conditionalities, the Bank overcame financial challenges by raising $16.1 billion in 2024

At a time of sweeping transformation in the global economic landscape, the New Development Bank (NDB), chaired by Dilma Rousseff, reaffirmed its standing as an innovative financial institution. Speaking at the conclusion of the BRICS Bank’s Annual Meeting in Rio de Janeiro, President Rousseff outlined the institution’s recent progress —from the admission of new members to the overcoming of financial turbulence—always anchored in its core mission: promoting sustainable and sovereign development across the Global South.

The expansion of the Bank’s membership was a central focus of the presentation. Rousseff confirmed the approval of Colombia and Uzbekistan as the newest members of the NDB, a decision made by the Board of Governors, composed of the Finance Ministers of BRICS countries. With these additions, the Bank now counts 11 members, including its original founders (Brasil, Russia, India, China, and South Africa) and subsequent joiners (United Arab Emirates, Bangladesh, Egypt, and Algeria).

Rousseff also noted that other countries are currently under review for membership but did not disclose their names, citing internal Board guidelines aimed at preserving confidentiality in ongoing negotiations. “Our expansion will follow strategic criteria, always with the goal of strengthening our representativeness within the Global South,” she explained, making clear that the Bank remains open to qualified new members.

Focusing on the needs of the Global South

Governance was another key pillar of the president’s remarks. She drew a clear contrast between the NDB’s model and the traditional paradigms of institutions like the IMF and the World Bank. “Our Bank was established by the Global South for the Global South, with a governance structure based on substantive equality among members,” she emphasized. In this innovative model, there is no room for unilateral veto power: all member countries have an equal voice in strategic decisions, which are made by consensus or qualified majority.

One of the most salient features of the Bank’s governance is its rejection of political or economic conditionalities, breaking with practices often criticized in other multilateral financial institutions. “Our model is demand-driven. It is the member countries that define their development priorities, and we assess projects based on technical—not political—criteria,” Rousseff stressed, underscoring the Bank’s commitment to national sovereignty in all its operations.

Overcoming challenges

The financial report presented by Dilma did not conceal the challenges faced in recent years. Rousseff was candid in addressing a particularly challenging 15-month period when the NDB was unable to raise funds in international markets—a situation that tested the Bank’s liquidity and required bold corrective measures.

Since assuming leadership in March 2023, president Rousseff has spearheaded an aggressive campaign to resume bond issuances, successfully raising an impressive $16.1 billion in 2024 alone, at rates that reflect renewed market confidence. Noteworthy examples include renminbi-denominated bonds issued with a mere 0.24% spread above the benchmark rate, and dollar-denominated bonds with equally competitive margins, at around 0.65% above the swap rate—a key indicator of future interest rate expectations.

“Today we have strong credit ratings, including a AAA grade from the Japanese agency JCR, and we are expanding into new markets, such as yen-denominated instruments and the Middle East,” she said, signaling the NDB’s growing presence in the global financial ecosystem.

Investment strategy

The Bank’s project portfolio has now reached $40 billion in approved financing since its inception, encompassing 122 strategic initiatives, of which $22.4 billion has already been disbursed. In the case of Brasil specifically, investments total $2.3 billion, spanning sectors as diverse as logistics infrastructure, clean energy, and health system modernization.

The investment strategy follows four priority pillars aligned with the most pressing development challenges of the 21st century. Logistics infrastructure receives particular emphasis, with projects aimed at upgrading ports, airports, and railways—including feasibility studies for high-speed trains—as well as regional integration initiatives such as the bi-oceanic railway linking Brasil and Peru, still in bilateral discussion.

Digital transformation stands as the second strategic pillar, with funding directed toward the expansion of 5G networks, early groundwork for 6G, and the development of data centers to ensure member countries’ technological sovereignty. In the realm of social infrastructure, smart hospitals equipped with AI and telemedicine technologies are featured as flagship projects, alongside essential initiatives in basic sanitation and affordable housing.

Energy transition completes the list of investment priorities, with significant funding flowing into solar and wind energy projects—always accompanied by innovative solutions for battery storage. “Storing wind and sunlight was once mocked as a fantasy, but today it is one of the most strategic areas in the global energy sector,” Rousseff noted, alluding to past criticisms of her advocacy for these technologies.

"Storing wind and sunlight was once mocked as a fantasy, but today it is one of the most strategic areas in the global energy sector"

— DILMA ROUSSEFF, president of the New Development Bank

Local-currency financing warranted a dedicated section of her remarks. Dilma Rousseff highlighted the risks faced by emerging economies overly reliant on the U.S. dollar for external financing. “Any business or government that borrows in foreign currency becomes subject to decisions made by the Federal Reserve or other central banks in developed nations,” she cautioned.

As a concrete example of this alternative approach, she pointed to a project in Brasil funded directly in renminbi, without the need for dollar conversion. She also noted strategic partnerships with national development banks like BNDES and BRDE to structure operations with reduced exchange-rate risk. This policy aims to shield member countries from the volatility of strong currencies while strengthening domestic capital markets—fostering a more resilient financial ecosystem, less dependent on traditional centers of financial power.

Technological innovation emerged as a cross-cutting theme in Dilma’s address. The president made a forceful case for emerging economies to gain mastery over critical technologies such as artificial intelligence, biotechnology, and robotics—lest they become “passive consumers of platform capitalism.” The NDB, she said, positions itself as a strategic facilitator in this process, actively promoting knowledge-sharing among members.

She cited China’s expertise in electric vehicles and solar panels, India’s strengths in the digital economy, and Brasil’s leadership in biofuels and deepwater oil exploration as examples of complementary assets ripe for exchange. “We have a flagship smart hospital project in São Paulo that incorporates Chinese know-how in its design. That’s exactly the kind of South–South cooperation we want to foster,” Dilma said, illustrating how the Bank can function as a platform for technological collaboration among developing nations.

Looking ahead

Outlining the Bank’s strategic outlook, Dilma laid out four key priorities. First, the expansion of the membership base will proceed based on strategic criteria that bolster the Bank’s geographic and economic representativeness. Second, the mobilization of private capital will be intensified through innovative guarantee mechanisms aimed at reducing investor-perceived risk.

Third, partnerships with leading research institutions will be scaled up to accelerate the pace of technological innovation in member countries. And fourth, local-currency operations will remain an absolute priority as a means of building a more diverse, balanced international financial system.
Asked about the controversial topic of “de-dollarization,” Rousseff offered a cautious and analytical response. “I don’t see concrete evidence of an imminent decline in the dollar’s status as the world’s primary reserve currency. But the rise of initiatives to expand trade in local currencies is undeniable, and I see that as a positive development,” she said. This pragmatism has become a hallmark of the NDB under her leadership—a bank seeking tangible alternatives to vulnerabilities in the global financial system, without adopting purely ideological or oppositional stances.

Founded in 2014 by BRICS countries as an alternative to traditional financial models, the NDB is headquartered in Shanghai and operates with a clear mandate: sustainable development and respect for national sovereignty. With its latest announcements and a strategic plan firmly in place, the Bank continues to consolidate its position as a relevant actor on the international financial stage—offering a viable alternative that combines technical soundness with deep respect for the needs of developing nations.

English version: Tadeu Azevedo (POET/UFC)
Proofreading: Michel Emmanuel Félix François

Brazil
Source: brics.br

“There is no individual solution to challenges of contemporary world,” says Haddad at BRICS Finance Meeting

The Minister of Finance advocates for multilateralism and presents the strategic pillars of Brazil’s presidency of BRICS. The meeting marks the final stage ahead of the Summit

“There is no individual solution to the challenges of the contemporary world. No country, acting in isolation—regardless of its power—can provide an effective response to global warming or meet the legitimate aspirations of the majority of humanity for a dignified life,” said Minister of Finance Fernando Haddad at the opening of the Meeting of BRICS Finance Ministers and Central Bank Governors, held this Saturday, July 5, in Rio de Janeiro. The session marked the final preparatory stage before the BRICS Summit, which begins on Sunday, 6 July.

The meeting addressed the promotion of multilateralism, global economic outlooks, and the role of BRICS. Haddad underscored the need to foster “21st-century multilateralism,” described as a “sustainable reglobalization” based on the social, economic, and environmental development of humanity as a whole.

“This is precisely the role of BRICS. BRICS is the face of the future,” Haddad stated. To help build that future, he explained that Brasil’s presidency of the group is organized around three interlinked pillars: economic, climate, and social.

On the economic front, the focus is on facilitating trade and investment among BRICS countries while strengthening coordination on reforming the international monetary and financial system. Haddad highlighted progress on intra-BRICS dialogue around public–private partnerships, taxation, and customs—with particular emphasis on taxing ultra-high-net-worth individuals.

On the climate front, he pointed to efforts to develop innovative instruments to accelerate ecological transformation across BRICS countries, especially through the Tropical Forests Forever Fund (TFFF), a mechanism focused on preserving tropical forests.

On the social front, BRICS countries are working to mobilize both public and private resources to ensure food security, provide social protection, and expand economic opportunities.

Three Key Deliverables from Brasil’s BRICS Presidency

Haddad also outlined three major outcomes from Brasil’s 2025 BRICS presidency. The first was the participation of new member countries, which has strengthened the group. “We are talking about some of the most influential diplomatic actors of our time—economies among the most dynamic in the world and demographic and climate powers central to sustainable global development,” the minister emphasized.

The second outcome was progress in the negotiation of joint declarations, consolidating BRICS’ commitment to multilateralism. Among the highlights, Haddad mentioned the bloc’s support for a proposed UN Framework Convention on International Tax Cooperation, which is seen as a key step toward building a fairer, more inclusive, and more effective global tax system. Additionally, a groundbreaking document was negotiated: the “Rio de Janeiro Vision for the IMF,” which proposes making the International Monetary Fund more representative of global economic shifts and more transparent in its governance.

The third deliverable, according to Haddad, was the consolidation of the New Development Bank (NDB) as a reference institution within BRICS, with the capacity to design, coordinate, and implement strategic investments and innovative public policies among member states.

“The documents we are presenting today show that sustainable reglobalization is a goal shared by humanity,” the minister affirmed.

Haddad closed his remarks by reaffirming Brasil’s commitment to stability and predictability in an increasingly uncertain global landscape. He emphasized that institutions across BRICS member countries have demonstrated resilience in the face of current challenges—an essential stance for strengthening BRICS and building a new model of global governance.

In addition to Minister Haddad’s speech, Gabriel Galípolo, President of the Central Bank of Brasil, also stressed BRICS’ commitment to building more stable, resilient economies that are equipped to face future challenges.

“The BRICS partnership continues to evolve—tackling new challenges and seizing opportunities with a clear and pragmatic vision,” Galípolo said. According to Galípolo, the meeting reflected the bloc’s ongoing commitment to deepening cooperation in key areas that ensure economic stability and resilience.

Galípolo noted that throughout the meeting, participants would discuss essential topics, including the development of the Contingent Reserve Arrangement (CRA), payment systems, cybersecurity, and sustainable finance. “These are timely and critical issues to ensure that our financial systems are strong, inclusive, and future-ready,” he concluded.

English version: Tadeu Azevedo (POET/UFC)
Proofreading: Michel Emmanuel Félix François

Brazil
Source: brics.br

The BRICS Climate Agenda

Comprising the world’s most populous countries and covering nearly 30% of the planet’s landmass, BRICS was established in 2006 on the sidelines of the United Nations General Assembly with the aim of reshaping traditional global governance through cooperation. The bloc set out to advance the interests of developing countries and provide economic alternatives to dominant international financial institutions such as the International Monetary Fund (IMF), the Inter-American Development Bank (IDB), and the World Bank.

As international negotiations progressed—especially after the creation of the United Nations Framework Convention on Climate Change (UNFCCC) and the launch of the Conferences of the Parties (COP)—global cooperation took center stage in confronting the climate crisis. The Conferences thus emerged as the principal forum for shaping international commitments, culminating in the landmark 2015 Paris Agreement, which established cooperation among nations as a cornerstone of climate action and introduced shared responsibilities through Nationally Determined Contributions (NDCs).

It is against such a backdrop that the organization has decisively incorporated climate and energy issues into its agenda, aligning with multilateral commitments and expanding both technical and political cooperation. The bloc has fostered the exchange of environmental technologies and best practices and invested in sustainable initiatives—from renewable energy and clean water access to improving living conditions in rural communities. These efforts are closely aligned with the priorities of the United Nations Environment Assembly (UNEA) and other multilateral organizations.

The Convergence of Climate Multilateralism and Internal BRICS Challenges

The Paris Agreement—ratified by nearly every nation—marked a pivotal moment in global climate cooperation, introducing requirements for regular reporting and greater transparency in meeting emissions-reduction targets. However, while Nationally Determined Contributions (NDCs) are vital, they still account for only a fraction of the effort required to meaningfully curb climate change.
The recent expansion of BRICS, which now includes countries such as Saudi Arabia, the United Arab Emirates, and Iran, has broadened the diversity of agendas within the bloc and strengthened it. Yet this expansion also poses challenges, as these countries remain heavily economically dependent on fossil fuels. The bloc must therefore devise strategies that reconcile environmental mitigation efforts with the economic and social realities of its members—recognizing that fossil fuels still play a significant role in the global economy. The search for more effective and less harmful methods of managing this transition must be matched by a collective commitment that accounts for national specificities, in line with the discussions led by UNEA and the UNFCCC.

For instance, Iran—which derived about 1% of its energy capacity from renewables in 2018—aims to reach 16% by 2030, while Saudi Arabia is projecting a compound annual growth rate (CAGR) of around 50% for solar energy by 2030, according to reports from Mordor Intelligence. These developments are encouraging, but they remain insufficient to fully respond to the climate crisis.

The Evolution of International Cooperation and the Role of BRICS

Since the first COP, international cooperation on the climate crisis has evolved from voluntary commitments to a more robust system of monitoring, transparency, and climate financing. Institutions such as the Green Climate Fund (GCF) and the Global Platform for Disaster Risk Reduction have expanded technical and financial support to developing countries, including BRICS members.
BRICS, for its part, has reinforced its cooperation framework through initiatives such as the New Development Bank (NDB) and the Contingent Reserve Arrangement (CRA), both aimed at supporting sustainable projects and green infrastructure. The bloc has also advanced the BRICS Energy Research Cooperation Platform (BRICS ERCP), which fosters technical exchanges, joint development of clean technologies, and coordinated strategies for the energy transition through 2030.
This dynamic reinforces the bloc’s growing role in environmental governance and contributes to more inclusive and effective multilateralism—aligned with the goals of the COP and the UNEA, both of which underscore the urgency of collective, integrated action in confronting the climate emergency.

The Limits of Unilateralism and the Urgency of Multilateralism

Recent international crises—such as the wars in Ukraine and the Middle East—have exposed the fragility of multilateral institutions in the face of unilateral actions and hegemonic interests. The use of veto power in bodies like the UN Security Council hampers peaceful and collaborative solutions, prolonging conflicts and their humanitarian and environmental consequences.

In the environmental arena, isolated (unilateral or bilateral) cooperation is not enough to tackle global challenges. The climate crisis warrants a collective outlook grounded in the common good and climate justice. The massive fossil fuel consumption of military sectors—particularly that of the United States—illustrates how strategic interests can override the environmental imperative, undermining multilateral efforts.

The Key Lies in the Global South: BRICS Leadership in Environmental Governance

As long as military and economic superpowers continue to dominate the international system, the environmental agenda risks being sidelined, reduced to low-impact individual efforts. BRICS+, as a growing and increasingly prominent organization, offers a promising alternative for building environmental governance that is more just, inclusive, and sustainable.

The bloc is at the forefront of sustainability and energy transition efforts, promoting technical cooperation, climate finance, and the development of clean technologies. In doing so, BRICS member countries amplify the voice of the Global South in international negotiations, helping to build a more balanced and effective multilateral system to address the climate crisis.

This context points to a future of global climate governance that depends on strengthening multilateralism led by BRICS countries—nations uniquely positioned to shape pragmatic and inclusive responses to the climate emergency by integrating economic and social diversity, aligning the priorities of the Global South with broader international goals.

Brazil
Source: brics.br

Ahead of the Leaders’ Summit, the bloc’s political negotiators are gathering in order to align their commitments on combating socially determined diseases, on artificial intelligence governance, and on climate finance. The focus is on concrete solutions to the structural challenges faced by the Global South

In the final lead-up to the Leaders’ Summit, set for July 6 and 7 in Rio de Janeiro, the sherpas—political negotiators from BRICS member States—are reconvening today, June 30, in the State capital. The meetings, expected to run through July 4, will lay the groundwork for the discussions that will shape next week’s summit of heads of State and government.

This third gathering will focus on health, artificial intelligence, and climate change. Chairing the meeting as Brasil’s sherpa is Ambassador Mauricio Lyrio who, having also served as sherpa during Brasil’s presidency of the G20 last year, brings extensive experience to the role. On the topic of climate change, Lyrio holds the prominent position of Secretary for Climate, Energy and Environment at the Ministry of Foreign Affairs (MRE) – a position previously held by Ambassador André Corrêa do Lago, now President of COP30.

“Through international cooperation, diplomacy facilitates access to resources and technologies—such as vaccines within BRICS— and brings tangible benefits to people’s lives. Artificial intelligence can also serve as an ally in tackling challenges like climate change and improving health, and Brazil’s foreign policy is committed to producing concrete, real-world results,” the sherpa said in an exclusive interview with BRICS Brasil at the outset of the meeting. Lyrio also emphasized the commitment of Brasil’s foreign policy to make negotiations more result-driven.

Priority Topics

HEALTH — Earlier this month, BRICS health ministers released a final declaration calling for the creation of a Partnership to Eliminate Socially Determined Diseases. Beyond expanding vaccine cooperation, the document positions the alliance among Global South nations as a driver of integrated, cross-sectoral action. According to the ministers, international commitment will be key to accelerating “the path toward global health equity.” According to the World Health Organization (WHO), social determinants of health include people’s circumstances at birth, the conditions in which they grow, live and work, and age. Factors such as hunger, poverty, and inadequate housing directly shape public health outcomes.

ARTIFICIAL INTELLIGENCE — Under Brasil’s presidency, the group is working to build international governance that ensures artificial intelligence is used ethically and directed toward solving global problems such as poverty, educational gaps, climate change, and diseases. Last week, BRICS ministers of Science, Technology and Innovation (STI) signed a final declaration reinforcing the importance of expanding access to and control over technologies and innovations by countries of the Global South — traditionally concentrated in the Global North. The document also outlines expanded cooperation among members to develop more accessible technological languages and build infrastructure that allows exploration of new tools, including artificial intelligence (AI).

CLIMATE CHANGE — At the end of last month, high-level BRICS representatives signed an ambitious new commitment. The document lays out different paths for implementing climate action in Global South countries. “For the first time, we will have a document that provides a roadmap for joint BRICS action on climate finance. It touches, for instance, on reforming multilateral banks, achieving greater concessional financing, mobilizing private capital, and other regulatory measures to ensure that financial flows reach developing countries,” explained Ambassador Tatiana Rosito, Secretary for International Affairs at the Ministry of Finance.

Environment ministers also adopted a final declaration reaffirming the importance of “environmental multilateralism” and of fostering “balanced and inclusive global governance” in order to achieve shared goals in the protection of flora and fauna.

Previous Meetings

The first Sherpa Meeting, held in February at the Itamaraty Palace in Brasilia (DF), was marked by the unanimous approval of key topics proposed by Brasil. One of the highlights was the review of the Strategic Partnership in the Economic Area, a five-year plan now being renewed under Brasil’s leadership. President Luiz Inácio Lula da Silva attended the session and emphasized the importance of multilateralism in building a more balanced global agenda.

The second meeting, held in April in Rio de Janeiro (RJ), stood out for the unprecedented participation of civil society that characterized it. A joint session between sherpas and leaders from the BRICS “People-to-People” (P2P) pillar represented a significant shift in how the group incorporates social demands into its decision-making process. It resulted in key points of consensus, such as the need for the New Development Bank (NDB) to act as the main financing agent for industrialization in the Global South.

Brazil
Source: brics.br

In Rio de Janeiro, specialists came together to shed light on the social invisibility of homeless populations in the 11 BRICS countries and to highlight the urgency of adopting structural policy responses

On 24 June, the BRICS Policy Center (BPC) in Rio de Janeiro hosted the official launch of the report “BRICS and the Invisibility of the Homeless Population,” published by the National Movement of the Homeless Population (MNPR). Flávio Lino, secretary of the Movement’s Rio chapter, unveiled the report’s novel data on living conditions for unhoused people across the 11 BRICS member states and highlighted weaknesses in implementing the Sustainable Development Goals (SDGs) as they pertain to these social groups.

During the event, Lino thanked BPC Director Marta Fernández for the ongoing collaboration between the two entities. He recalled a previous appearance at the BPC to launch a report under the auspices of the G20, noting that the visibility gained then opened new avenues for international advocacy. As a significant development, he announced that the MNPR has been invited to participate in the next G20 meeting in South Africa with its own dedicated panel on homelessness.

Compiled from public-domain data and published in the 11 official languages of the BRICS countries, the report offers a comparative view of homeless populations, with breakdowns by gender, age group, and LGBTQIAPN+ identity. The study exposes significant gaps in member states’ commitments to SDGs on dignity, housing, access to services, and fundamental rights for this community.

According to Lino, the absence of targets specific to homeless populations lays bare a lack of political drive to nurture sustainable reintegration strategies. “Most public policies today are temporary and hinge on prerequisites that ignore these people’s realities, such as demanding documents that many of them simply do not have,” he said. While acknowledging the essential role of NGOs and religious organizations, he stressed the need for structured, state-led actions.

The secretary thus called for the creation of a dedicated Sustainable Development Goal focused on homeless populations—one that would anchor lasting, integrated policies with global scope. He noted that, with Brasil currently presiding over BRICS, the country is well positioned to take the lead in advancing this agenda. “It is time to go further and forge a collective commitment among nations. Genuine progress only happens when countries face their challenges with a willingness to change and cooperate.”

Brazil
Source: brics.br

During its first ever in-person session, the Council engaged in substantive deliberations across seven priority pillars reflecting the core interests of civil society in the Global South. A subsequent meeting was scheduled for October in Salvador, Bahia

The BRICS People's Council, formally acknowledged in the 2024 Kazan Declaration, convened in person for the first time. This development marks a significant institutional advance and was welcomed by the peoples of the Global South. Within the framework of the primary cooperation forum among developing nations, these peoples now benefit from a permanent channel for dialogue between governments and organized society from member and partner states.

The session, held on 4–5 July in Rio de Janeiro, represented a continuation of civil forums convened since 2015 which, upon reaching a decade of activity, were institutionalized as a component of the People-to-People (P2P) pillar of BRICS. In the months leading up to the in-person meeting, preparatory engagements were conducted online, with the participation of more than 120 social organizations from member countries. At the conclusion of the two-day deliberations, a Compendium of Recommendations was adopted, focusing on seven thematic areas: health, education, ecology, culture, finance, digital sovereignty, and the group’s institutional framework.

The Compendium, accessible in its entirety via the indicated link (in portuguese), will be formally transmitted today, 6 July, to Heads of State and Government during the Leaders’ Summit—marking yet another unprecedented development under Brasil’s chairmanship of BRICS. In April, civil society achieved a further historic milestone in its enhanced engagement with the group’s formal deliberations, having participated directly in consultations with sherpas, the political negotiators of member states.

“What we intend to convey is that cooperation must necessarily involve civil society organizations. While governments may engage with high-level political agendas and prominent issues in the current context, it is imperative to build more tangible channels for technological and cultural cooperation, and these can only be forged by the peoples themselves,” stated João Pedro Stédile, a leading figure in the Landless Workers’ Movement (Movimento dos Trabalhadores Rurais sem Terra, MST) and Brasil’s representative on the Council.

"While governments may engage with high-level political agendas and prominent issues in the current context, it is imperative to build more tangible channels for technological and cultural cooperation, and these can only be forged by the peoples themselves"

— JOÃO PEDRO STÉDILE, leading figure in the Landless Workers’ Movement

“Civic engagement and popular participation are the foundational support to all debates. This is a significant outcome of our time—an authentic product of our collective endeavor,” remarked Victoria Panova, Russian representative to the Council. She further underscored that, although the institutionalization of the mechanism took place during Russia’s chairmanship, it was the result of a genuine aspiration and concerted effort by societies across all participating countries.

Brasil offered an exemplary setting for the convening, as the integration of governments and movements within international processes has become a distinctive feature of Brazilian diplomacy under the leadership of President Lula. Last year, the Federal Government hosted the Social G20 with the participation of nearly 50,000 individuals, ahead of the Leaders’ Summit of the world's principal economies.

This point was reiterated by Márcio Macedo, Minister of the Secretariat-General of the Presidency of the Republic, during the opening of the Council session on Friday, 4 July. “I do not believe in initiatives undertaken in isolation. People are the ones who know their own reality and what they need. Only then can we formulate effective public policies. May this Council engage in dialogue with the BRICS Summit, as we have successfully done in the context of the Social G20," he stated.
In addition to the Minister of the Secretariat-General of the Presidency, the Ministry of Finance was also represented by Antonio Cottas, Deputy Secretary for International Finance and Economic Cooperation, who reaffirmed the taxation of the ultra-wealthy as a priority on both the national and international agendas under Brasil’s coordination.

Next steps

It was confirmed that in October, an additional in-person convening of BRICS civil society would be held, still under Brasil’s chairmanship, with the objective of advancing and deepening dialogue following the dissemination of outcomes from the Leaders’ Summit. Popular movements in Brasil have proposed and are actively organizing an expanded conference, to be held over three days in Salvador, Bahia.

The initiative seeks to convene between 250 and 300 participants, including approximately 10 to 15 delegates per member state, alongside representatives from other nations and organizations engaged in the process. The objective is to strengthen collaboration among the peoples of the Global South and to enable practical cooperation initiatives led by civil society and its movements.

Here is the executive summary of the Compendium’s seven thematic pillars:

BRICS and the Establishment of a Global Public Health Regime
Outlining a comprehensive strategy aimed at advancing health equity, reinforcing public health systems, and enhancing cooperation among member countries. The document affirms health as a fundamental human right and underscores the imperative for systemic responses that address the social determinants of disease, safeguard vulnerable populations, and prioritize prevention and dignity in service delivery.

Non-Western Strategies for Education in BRICS Countries
Presenting a vision for the development of inclusive, people-centered educational models that affirm the sovereignty, diversity, and cooperation of member nations. Recognizing education as a universal right and a strategic domain for international cooperation, the document outlines structural reforms aimed at countering commodification, strengthening public systems, and enhancing democratic governance in education across the Global South.

Environmental Crisis, Climate Justice, and Alternatives for Sustainable Development for the Peoples of the Global South
In view of escalating environmental emergencies, mounting geopolitical tensions, and the weakening of global climate commitments, the strategic recommendations aim to advance climate justice and sustainable development led by and for the Global South. The document articulates a people-centered ecological agenda grounded in social equity, environmental integrity, and international cooperation among BRICS member states.

Culture and Arts for BRICS Integration
Asserting the centrality of cultural cooperation to strengthen BRICS, fostering multipolarity, and advancing mutual understanding among the group’s diverse societies. Grounded in principles of anti-colonialism, cultural diversity, and social justice, the document outlines a comprehensive set of proposals aimed at promoting cultural integration, artistic collaboration, heritage preservation, and inclusive development among member states.

Financial and Monetary Systems in a Multipolar World
Outlining a strategic framework for restructuring the global financial architecture from the vantage point of the Global South. The proposals aim to advance sovereign, inclusive, and sustainable development across BRICS member states, moving beyond conventional market paradigms to address pressing human, social, environmental, and financial challenges. The recommendations encompass international taxation, trade, monetary policy, financial cooperation, technology, and institutional reform.

Digital Economy, Digital Sovereignty, Artificial Intelligence, and Governance
Outlining a strategic framework for advancing digital sovereignty, inclusive governance of artificial intelligence (AI), and a human-centered digital economy. Acknowledging the growing concentration of technological power and global disparities in digital development, the document advocates enhanced cooperation among BRICS member states to ensure a just, secure, and autonomous digital transformation, firmly grounded in social justice and human rights.

BRICS, its Institutional Framework and Respect for Sovereignty in Advancing Global Peace
Presenting a strategic vision for strengthening peace, sovereignty, and institutional reform within the group. The document advocates a multipolar global order grounded in the self-determination of peoples, in democratic governance, and in inclusive participation. As BRICS continues to expand, it must cultivate stronger institutional structures to ensure coherence, transparency, and effective coordination—while embracing diversity and resisting external coercion.

Translation: Michel Emmanuel Félix François (POET/UFC)
Proofreading: Enora Lessinger (POET/UFC)

Brazil
Source: brics.br

Antonio Cottas, Deputy Secretary for International Finance and Economic Cooperation at Brasil’s Ministry of Finance, highlights progress on taxing the super-rich during this week’s meeting of BRICS negotiators in Rio

The BRICS negotiators reconvened on Wednesday, July 2, with talks among the bloc’s eleven member states advancing steadily. Economic and financial discussions centered on a key priority: addressing inequalities across the Global South.

“We brought several G20 discussions into the BRICS framework—one of them being the expansion and strengthening of international tax cooperation, including the taxation of so-called high-net-worth individuals, or the super-rich. This was well received by BRICS, though it did require some negotiation effort. And the declaration goes beyond that—it also addresses tax evasion and calls for deeper cooperation among tax authorities,” said Antonio Cottas, Deputy Secretary for International Finance and Economic Cooperation at the Ministry of Finance.

“It’s always a major challenge when you have to bring together the endeavors and perspectives of different countries on what are often highly technical matters. But Brasil’s presidency successfully translated the G20 agenda into the BRICS context, and this was very well executed. BRICS gave its endorsement to tax mechanisms aimed at combating inequalities. That’s extremely important and is yet another consensus that Brasil helped broker. This is something we’re very proud of,” he added.
Cottas explained that the technical debate on finance was currently taking place at the political level of negotiators. “The Ministry of Finance, along with the Central Bank, finalized negotiations on a joint communiqué that addresses topics such as IMF governance reform, international tax cooperation, infrastructure, insurance cooperation, partnerships with the World Bank—several interconnected issues. These are grouped into three overarching themes: first, the integration of new members; second, strengthening intra-BRICS cooperative mechanisms as a complement to the international monetary and financial system; and third, the defense and promotion of multilateralism,” he said.
The BRICS Finance Working Group (WG) will hold its technical meeting this Friday, July 4, followed by the ministerial meeting on Saturday, July 5. Preliminary agreements are already in place.

Diplomatic Expertise

The negotiations that have been taking place at the Hotel Nacional in Rio de Janeiro since Monday, June 30, will define the topics to be addressed by heads of state at the upcoming Summit on July 6 and 7. To that end, Brazilian diplomacy has drawn on its long-standing reputation as a mediator.
“Brasil’s BRICS presidency certainly benefits from the best of the country’s diplomatic tradition—our historic and widely recognized role as a consensus-builder, mediator, and bridge-builder. Second, it draws on the experience of having led the G20 last year, which gave us substantial knowledge, experience, contacts, and negotiation capacity,” said Cottas.

Looking Ahead to COP30

Among the challenges faced so far in the negotiations are the increased complexity of the expanded group—which has grown from five to eleven members—and the “turbulent” geopolitical climate. Nonetheless, talks are progressing and are expected to leave a legacy for COP30, to be held in November in Belém, Pará.

“Much like the G20, BRICS brings its own set of challenges and complexities. It’s not a straightforward environment, especially in today’s volatile economic and geopolitical landscape. I believe both processes will converge at COP30, where Brasil is well positioned to present strong proposals and help forge agreements that address the major crises of our time: the environment, the economy, social inequalities, and labor-related issues. I’m confident that Brasil is well equipped to help the world move toward efficient solutions,” said the Deputy Secretary for International Finance and Economic Cooperation.

Climate funding — a top priority for COP30 — is also on the agenda in BRICS discussions.
“A central issue we are facing is the need for more funding and resources to address not just mitigation, but also the adaptation needs of developing countries. We’ve done a lot of work on this as a bridge to the COP later this year. We also worked on taxonomy and the carbon market—these are building blocks we’re climbing as we head toward COP,” the deputy secretary concluded.

English version: Tadeu Azevedo (POET/UFC)
Proofreading: Enora Lessinger (POET/UFC)