The BRICS nations—Brazil, Russia, India, China, and South Africa—are coming together to reshape the global financial landscape in response to growing pressures from US tariff policies. With an aim to strengthen multilateral cooperation and build more resilient supply chains, these emerging economies are seeking to amplify their voices on the world stage.
In a recent discussion on BizTalk, experts shared their insights on how BRICS countries can mitigate risks and accelerate financial cooperation. Nonkululeko Nyembezi, Chairperson of Standard Bank Group, emphasized the importance of unity among the BRICS nations. “By collaborating, we can create alternative pathways for trade and investment that benefit all our economies,” she said.
Jiang Tianjiao, Associate Director of the Center for BRICS Studies at Fudan University, highlighted the potential for reforming the international monetary system. “We need to explore new mechanisms that reflect the economic realities of the Global South,” Jiang noted. “This will enable us to have a greater say in global financial governance.”
Hisham Abubakr Metwally Mohamed, an economist at the Egyptian Ministry of Foreign Trade and Industry, pointed out the significance of inclusive growth. “BRICS nations have a unique opportunity to support developing countries by promoting fair trade practices and sustainable development,” he explained.
The conversation underscored the shared challenges and opportunities faced by BRICS countries. By enhancing cooperation, they hope to create a more balanced and inclusive global economy that addresses the needs of the Global South.
