Paulo: The Brazilian government announced Saturday that the next BRICS summit will take place in Rio de Janeiro on July 6-7.
Brazil will chair the bloc of developing economies through 2025 and said it will focus on promoting global governance reform and cooperation among Global South countries, according to a statement from the federal government.
About BRICS
BRICS was established in 2009 by Brazil, Russia, India, and China, with South Africa joining in 2010 as a counterbalance to the Group of Seven leading industrialised nations.
Last year, the bloc expanded by adding Iran, Egypt, Ethiopia, and the United Arab Emirates. Saudi Arabia has also been invited to join. Turkey, Azerbaijan, and Malaysia have formally applied for membership, and several other countries have expressed interest.
Bloc Welcomes Indonesia & Nigeria
Recently, the bloc welcomed Indonesia as one of its 11 members and Nigeria as a "partner country," a designation introduced at the 2024 summit in Kazan.
Brazil said the partner countries are also invited to participate in the summit and may attend other meetings if there is consensus among members.
"We will make crucial decisions for development, cooperation, and improving the lives of all the inhabitants of these countries," said Mauro Vieira, Brazil's foreign minister.
President Donald Trump has repeatedly threatened to impose 100 per cent tariffs on BRICS nations if they act to undermine the US dollar. BRICS leaders have expressed their commitment to establishing an alternative payment system independent of the dollar.
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