The upcoming BRICS Summit in Rio de Janeiro, Brazil, on July 6-7, 2025, is poised to make history. Under the theme of “Strengthening Global South Cooperation for More Inclusive and Sustainable Governance,” this gathering marks the first time BRICS convenes with an expanded format, now embracing 11 full member states and 10 partner countries.
Since taking over the BRICS presidency on January 1, 2025, Brazil has emphasized two main priorities: reinforcing cooperation among the Global South and propelling reforms in global governance. To achieve these goals, Brazil has outlined six core focus areas:
Cooperation in global health and public health systems
Trade, investment, and financial collaboration
Joint efforts to combat climate change
Governance of artificial intelligence
Reform of the global security architecture
Institutional development of the BRICS mechanism
Trade and Investment Collaboration
The BRICS Summit arrives at a critical time amid escalating global trade tensions. With increasing unilateral protectionist practices disrupting the multilateral trading system centered around the World Trade Organization (WTO), BRICS nations are seeking solutions. The group, representing nearly half of the world’s population and over 30% of global GDP, has consistently denounced actions that violate WTO rules.
In response, BRICS aims to advance initiatives like the Partnership for the New Industrial Revolution (PartNIR) and the 2030 Strategy for the BRICS Economic Partnership. These strategies are designed to strengthen intra-BRICS trade and reduce vulnerabilities caused by external factors, promoting a fairer and more stable global trade environment.
Financial Governance
Under Brazil’s leadership, BRICS is exploring reforms to enhance the governance of financial markets, local currencies, and payment systems. Over the years, the group has launched strategic financial initiatives offering credible alternatives for developing countries, challenging the traditional dominance of Western-led financial systems.
Notably, the New Development Bank (NDB), established in 2014, finances infrastructure and sustainable development projects across emerging economies. The Contingent Reserve Arrangement (CRA), also founded in 2014, provides a financial safety net to support member states during global financial crises, reducing dependence on traditional institutions.
At the upcoming summit, BRICS is expected to unveil a new guarantee fund backed by the NDB. Modeled after the World Bank’s Multilateral Investment Guarantee Agency (MIGA), this fund aims to lower financing costs and attract private investment, further strengthening financial cooperation among member nations.
Coordination on Security Stance
The Rio de Janeiro summit comes at a time of heightened geopolitical volatility. Recent conflicts and ongoing crises have underscored the need for a unified approach to peace and security. BRICS nations have expressed grave concerns over violations of international law and emphasized the importance of diplomatic efforts to resolve conflicts peacefully.
Member countries have welcomed initiatives like the “Friends for Peace” group at the United Nations, aiming to promote de-escalation, dialogue, and political solutions to ongoing crises. These efforts highlight BRICS’ commitment to a multilateral peace and security architecture that rebuilds mutual trust and promotes peaceful resolutions.
Climate Change and AI Governance
Climate change and artificial intelligence governance are prominent on this year’s summit agenda, reflecting the group’s dedication to sustainability and responsible innovation. Brazil, set to host the UN Climate Change Conference (COP30) in Belém later this year, has made climate finance a top priority.
The summit may serve as a platform for member states to discuss improving climate finance mechanisms, laying the groundwork for COP30. Brazil has indicated that the group is expected to adopt a BRICS Climate Leadership Agenda, including a Leaders’ Framework Declaration on Climate Finance, guiding structural reforms to support global climate action.
On the front of artificial intelligence, BRICS nations recognize the transformative potential of AI technologies. They emphasize that AI must be designed, developed, and applied responsibly to ensure that innovation benefits all. The group supports international cooperation on AI capacity-building, aiming to foster technological advancements while safeguarding ethical standards.
As the BRICS Summit approaches, the world watches with anticipation. The decisions and collaborations forged in Brazil have the potential to reshape the future for the Global South and contribute significantly to a more inclusive and sustainable global governance model.
