Rio de Janeiro: The BRICS Summit 2025 will take place in Rio de Janeiro, Brazil, on July 6-7, bringing together leaders from 20 nations with full or associate status in the bloc. Brazil, which holds the current BRICS chairmanship, announced the summit’s agenda, emphasizing economic cooperation and financial reforms.
Key Agenda of the Summit
Brazilian Foreign Minister Mauro Vieira shared on social media platform X that the summit will focus on:
- Strengthening trade and economic ties among BRICS nations.
- Developing alternative payment systems to encourage trade without reliance on the US dollar.
- Boosting cooperation with developing nations of the Global South.
- Reforming multilateral institutions to ensure fairer global governance.
“We will make very important decisions for the development of all these countries, for cooperation, and for improving the living conditions of all their inhabitants,” Vieira stated.
BRICS’ Push for Non-Dollar Transactions
In recent years, BRICS countries have been exploring non-dollar trade mechanisms. At a previous summit in Russia (October 2024), members discussed:
- Reducing dependence on the US dollar in global transactions.
- Strengthening local currencies for cross-border trade.
While US President Donald Trump has warned of 100% tariffs on BRICS nations if they undercut the dollar, Brazilian officials maintain that BRICS does not plan to replace the dollar but rather to increase the use of local currencies.
BRICS Expansion and Economic Power
Since its inception in 2009, BRICS has significantly expanded and now includes:
- Iran, Egypt, and the UAE, among other new members.
- Together, BRICS nations contribute to a significant share of global economic output.
Brazilian President Luiz Inácio Lula da Silva has reiterated that the 2025 BRICS Summit will be a crucial step toward strengthening economic ties, trade, and diplomatic cooperation among emerging economies.
