Brazil to host BRICS Summit in Rio de Janeiro in July

The Brazilian government has officially announced that the next BRICS summit will be held in Rio de Janeiro on July 6-7, 2025.

Brazil, which assumed the chairmanship of the bloc on January 1, will focus on promoting global governance reform and enhancing cooperation among Global South countries during its tenure, Caliber.Az reports per foreign media.

BRICS, which was initially established in 2009 by Brazil, Russia, India, and China, expanded in 2010 with the inclusion of South Africa as a counterbalance to the Group of Seven (G7) leading industrialized nations. Last year, the bloc further broadened its membership by admitting Iran, Egypt, Ethiopia, and the United Arab Emirates. Saudi Arabia has also been invited to join, while Turkey, Azerbaijan, and Malaysia have formally applied for membership. Other countries have shown interest in joining as well.

In a recent development, Indonesia was welcomed as a new member of the bloc, and Nigeria was granted "partner country" status, a designation introduced during the 2024 summit in Kazan. Brazil stated that partner countries would also be invited to participate in the summit and attend other meetings, provided there is consensus among BRICS 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.

Amid these developments, US President Donald Trump has repeatedly threatened to impose 100 per cent tariffs on BRICS nations if they act to undermine the US dollar. In response, BRICS leaders have emphasized their commitment to establishing an alternative payment system independent of the dollar, signaling a potential shift in global financial dynamics.

By Vafa Guliyeva