Brazil to Host Next BRICS Summit in Rio De Janeiro in July

Sao Paulo: The Brazilian government announced that the next BRICS summit will take place in Rio de Janeiro on July 6 and July 7.

Brazil will lead the BRICS bloc of developing economies through 2025, focusing on advancing global governance reforms and fostering cooperation among Global South nations, as stated by the federal government.

BRICS was founded in 2009 by Brazil, Russia, India, and China, with South Africa joining in 2010 to provide a counterbalance to the Group of Seven (G7) of leading industrialized nations.

In the previous year, the bloc expanded by admitting Iran, Egypt, Ethiopia, and the United Arab Emirates. Saudi Arabia has also been invited to join, while Turkey, Azerbaijan, and Malaysia have officially applied for membership. Several other countries have shown interest in joining as well.

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 consistently warned of imposing 100% tariffs on BRICS nations if they take steps to undermine the US dollar. In response, BRICS leaders have expressed their commitment to establishing an alternative payment system independent of the dollar.