The upcoming BRICS summit will be held in Rio de Janeiro on July 6-7, with Brazil assuming the 2025 chairmanship to focus on global governance reforms and Global South cooperation. The bloc recently expanded by welcoming Indonesia and Nigeria, creating a BRICS Bridge to strengthen trade and technology ties among emerging economies. Despite U.S. threats of 100% tariffs, BRICS remains committed to developing an alternative payment system, signaling its growing influence in reshaping global economic dynamics.
BRICS bridge- Brazilian President-elect Luiz Inacio Lula da Silva announced on Saturday that the next BRICS summit will take place in Rio de Janeiro on July 6-7. The federal government said in a statement that Brazil will take the leadership of the group of developing countries in 2025, working on reforming global governance and developing cooperation between the countries of the Global South. Account State in BRICS, which was founded by Brazil, Russia, India and China in 2009, with South Africa joining in 2010, seeks to balance the Western-centric approach of the leading industrialized nations in the Group of Seven.
BRICS grew to include Iran, Egypt, Ethiopia and the United Arab Emirates as members last year. Saudi Arabia also has been invited to participate, while Turkey, Azerbaijan and Malaysia have submitted formal applications for membership. And, several other countries have shown interest. Last month the bloc added Indonesia as its 11th member and Nigeria as a “partner country,” a new designation rolled out at the 2024 summit in Kazan. This enlargement not only bolsters BRICS but also establishes a BRICS Bridge that connects emerging economies and strengthens trade and technological cooperation across continents. All member states must agree that countries that have taken up membership but not yet achieved WTO membership can attend the summit and other meetings.
“The BRICS Summit will make important decisions in the area of development and cooperation to improve the quality of life of the populations in the BRICS countries,” Brazil’s Foreign Minister Mauro Vieira added. But the bloc is also facing threats from the president of the United States, Donald Trump, who has threatened to levy 100% tariffs on BRICS countries multiple times in response to these nations undermining the U.S. dollar. BRICS leaders have declared their intentions to develop an alternative payment system free from dollar dependence.
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