Rio de Janeiro:
Leaders of countries known as BRICS will hold a summit in Rio de Janeiro in July, the current Chairman Brazil announced on Saturday.
Other members of the trading block include Russia, India, China and South Africa and others.
Brazilian Foreign Minister Mauro Viera said on the social media platform X that the summit will be held on 6-7 July and leaders of 20 countries will be introduced with full or collaborative status in the block.
In this meeting, “We will take very important decisions for the development of all these countries, for cooperation and to improve the living status of all their inhabitants,” Viera said.
US President Donald Trump has threatened to impose 100 percent tariffs on BRICS countries if they reduce the US dollar.
At a BRICS summit in October in Russia, member countries discussed promoting non-dollar transactions and strengthening local currencies.
The government of President Luiz Eneasio Lula Da Silva has said that the BRICS block under the Presidential President of Brazil will focus on strengthening cooperation with the so -called global South and improvement in multilateral institutions.
He said that Brazil’s priorities for the block include “means of development development” to encourage trade and investment between member states.
Last month, Brazil’s chief negotiator for the BRICS Group, Eduardo Saboia told the AFP that there is no concrete plan to change the dollar, but rather talks on using local currencies in transactions.
The BRICS Group has expanded considerably since its inception in 2009, and now it includes countries such as Iran, Egypt and United Arab Emirates.
Overall, the BRICS coalition is responsible for an important minority of the world’s economic production.
(Except for the headline, the story has not been edited by NDTV employees and is published by a syndicated feed.)
