BRICS Summit 2025 in Brazil, Explained
BRICS Summit 2025 in Brazil, Explained
Lena Petrova: 7-6-2025
The 17th BRICS Summit, held in the vibrant city of Rio de Janeiro, marked a pivotal moment in the evolution of this influential coalition of emerging economies.
Far from its initial five-member structure, BRICS has blossomed into an influential bloc of nine full members – Brazil, Russia, India, China, South Africa, Indonesia, Egypt, Ethiopia, Iran, and the UAE – with a growing roster of partners and keen interest from other nations like Mexico and Colombia.
This expansion underscores BRICS’ burgeoning appeal and its ambition to represent a broader spectrum of emerging economies.
The summit’s ambitious agenda centered on fostering inclusive and sustainable cooperation among the Global South, with a strong focus on economic development, climate action, and the critical reform of global governance institutions.
A key takeaway from the summit challenges a popular misconception: BRICS is not pursuing a common currency. Instead, the focus is squarely on strengthening the use of national currencies for trade and financing.
This strategic move aims to reduce reliance on the US dollar and Euro, thereby building alternative frameworks for global trade and finance that temper Western dominance.
As the host nation, Brazil played a pivotal role in steering the summit’s agenda towards pragmatic and impactful goals. Discussions honed in on vital areas such as infrastructure development, sustainable finance, and fortifying the New Development Bank (NDB), BRICS’ own financial institution headquartered in Shanghai.
Climate cooperation emerged as another critical theme, especially with Brazil poised to host COP30 in the Amazon later in the year. Despite internal divergences, particularly concerning the pace of fossil fuel phase-out, BRICS demonstrated its collective capacity to influence global environmental policies, evidenced by its recent joint proposal at a biodiversity summit.
Beyond economic and environmental cooperation, a central pillar of the summit was the urgent call for reforming global governance institutions.
Leaders emphasized the need to reshape bodies like the United Nations, IMF, and World Bank to ensure fairer representation for the burgeoning economies of the Global South.
This reflects BRICS’ evolving role as a significant counterbalance—rather than a direct replacement—to established Western-led institutions. Amidst growing global uncertainties and questions surrounding the reliability of traditional Western alliances, many developing nations are actively seeking alternative partnerships that offer greater agency and respect for their unique development paths.
With its rapidly expanding economic and demographic footprint, BRICS now commands a substantial 44% of global GDP and represents 56% of the world’s population, unequivocally signaling its rising influence on the global stage.
While the summit’s official outcomes included important declarations on governance, artificial intelligence, climate finance, and health, much of BRICS’ future direction will undoubtedly be shaped by behind-the-scenes negotiations and deals among member states.
Brazil’s pragmatic leadership is seen as crucial in transforming BRICS from primarily a geopolitical counterweight into a truly effective engine of development for the Global South.
The 17th BRICS Summit in Rio stands as a landmark event for emerging economies, clearly articulating their vision for a more inclusive, sustainable, and multipolar world order.
Under Brazil’s pragmatic leadership, the bloc is strategically emphasizing economic empowerment, robust climate cooperation, and the crucial reform of global governance, all while adeptly navigating its internal dynamics.
As BRICS continues its trajectory of growth and diversification, it is undeniably poised to play a transformative role in shaping the future of global politics and economics.