Brics Summit | Cooperation instead of barriers

The BRICS countries intend to continue their efforts to promote a fairer world order. The joint declaration at the conclusion of the 17th summit of leading emerging economies in the Brazilian metropolis of Rio de Janeiro emphasizes the importance of the Global South for positive change in the face of "growing geopolitical tensions," economic problems, and accelerated technological development.

For Brazilian President Luiz Inácio Lula da Silva, whose country holds the rotating presidency of the BRICS, the BRICS remain the "guarantor of a promising future," as he emphasized at the forum's opening on Sunday. In light of the resurgence of protectionism, it is the task of emerging economies to "defend the multilateral trade regime and reform the international financial architecture." The latter refers to the de-dollarization of global trade , which the group of states has declared a strategic goal.

The response from Washington came promptly: On his social media platform, Truth Social, US President Donald Trump threatened any country that aligns itself with the BRICS' "anti-American" line with additional punitive tariffs of ten percent. According to Trump, there will be "no exceptions" to this policy. In the meantime, the BRICS countries intend to continue conducting more business with each other in national currencies.

The BRICS countries also want to become more independent from the West when it comes to global data traffic. To this end, they are planning a feasibility study, financed by the BRICS bank (NDB), for the construction of a communications network with high-speed fiber optic cables on the seabed. In addition to creating greater security and data sovereignty, the project is intended to ensure they are not left behind in the development of artificial intelligence.

In Rio, Brazilian President Lula advocated for the BRICS countries to promote a new development model based on sustainable agriculture and "green industry." "Our countries are already among the largest investors in renewable energy." There is great potential for expanding the production of biofuels, solar, and wind power. Brazil possesses the strategic minerals necessary for an energy transition.

In addition to representatives from Brazil, Russia, India, China, and South Africa, the two-day meeting on Sunday and Monday also included representatives from the newcomers to the group since 2014: Saudi Arabia, Egypt, the United Arab Emirates, Ethiopia, Indonesia, and Iran. Among the heads of state and government of the full members, Chinese President Xi Jinping and Iranian President Masoud Pezeshkian were absent, but they sent representatives. Kremlin President Vladimir Putin participated in the meetings via video link. High-level delegations from the dozen BRICS partner states were also present in Rio, including Nigeria, Vietnam, and Cuba.

The eleven full members of the economic and political alliance, which was formed as a counterweight to Western-dominated forums such as the G7, alone represent almost half of the world's population, 39 percent of the global economy, almost a fifth of exports and most of the natural resources.