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Brazil Takes The Helm: BRICS Presidency 2025 Promises Broader Agenda Than G20
(MENAFN- The Rio Times) (Analysis) In 2025, Brazil will assume the presidency of BRICS, bringing a more expansive agenda than its current G20 leadership. The South American nation aims to accelerate changes in the global financial system.
Brazil plans to continue its G20 focus on taxing the ultra-wealthy, sustainable finance, and combating hunger and poverty. The country will also emphasize customs cooperation, emerging market savings, and infrastructure investments.
Preparations for the BRICS Leaders' Summit in Kazan, Russia, from October 22-24, have already begun. Brazil will unveil its detailed proposals and priorities in December, presenting them to other members in early 2025.
Antonio Freitas, Undersecretary of International Finance and Economic Cooperation at the Ministry of Finance, highlighted the continuity between G20 and BRICS agendas.
Freitas emphasized Brazil's leadership role in discussions on global governance reform. He stressed the need to adapt Bretton Woods institutions to new global economic realities.
The country seeks to build complementary paths to diversify and strengthen emerging economies. Brazil's BRICS presidency will reflect its foreign policy, promoting multilateralism and governance reforms.
Ambassador Eduardo Saboia, Brazil's BRICS sherpa, confirmed the focus on sustainability and energy transition. He noted that poverty reduction and inequality would also be key themes.
Brazil remains committed to BRICS, regardless of its presidency status. President Lula has previously emphasized UN Security Council reform and platforms facilitating trade among BRICS nations.
Brazil's BRICS Leadership
Brazil's BRICS leadership officially begins in January, but preparations started in October. Most meetings will occur in the first half of 2025, primarily in Brazil.
This presidency offers strategic opportunities for attracting investments, according to Larissa Wachholz, a senior fellow at the Brazilian Center for International Relations.
The New Development Bank (NDB ), established by BRICS, plays a crucial role in financing sustainable projects. Brazil has received about 18% of total NDB loans.
The bank not only provides direct funding but also helps secure capital from other sources. 2025 marks Brazil's third BRICS presidency, following 2014 and 2019.
The country faces pressure to achieve concrete results, given its history of productive leadership. The 2014 summit in Fortaleza saw the establishment of the NDB and the BRICS Contingent Reserve Agreement.
Brazil's presidency will oversee the integration of new BRICS members: Iran, UAE, Ethiopia, Egypt, and Saudi Arabia. The group is also considering applications from 34 potential partner countries.
This expansion reflects a desire to renew the international system through the Global South. The Brazilian government aims to create a more diverse and stable global financial system.
It seeks to develop a system less dependent on individual country fluctuations. Brazil's BRICS leadership in 2025 promises to be a pivotal moment in shaping the future of international cooperation and economic governance.
Brazil plans to continue its G20 focus on taxing the ultra-wealthy, sustainable finance, and combating hunger and poverty. The country will also emphasize customs cooperation, emerging market savings, and infrastructure investments.
Preparations for the BRICS Leaders' Summit in Kazan, Russia, from October 22-24, have already begun. Brazil will unveil its detailed proposals and priorities in December, presenting them to other members in early 2025.
Antonio Freitas, Undersecretary of International Finance and Economic Cooperation at the Ministry of Finance, highlighted the continuity between G20 and BRICS agendas.
Freitas emphasized Brazil's leadership role in discussions on global governance reform. He stressed the need to adapt Bretton Woods institutions to new global economic realities.
The country seeks to build complementary paths to diversify and strengthen emerging economies. Brazil's BRICS presidency will reflect its foreign policy, promoting multilateralism and governance reforms.
Ambassador Eduardo Saboia, Brazil's BRICS sherpa, confirmed the focus on sustainability and energy transition. He noted that poverty reduction and inequality would also be key themes.
Brazil remains committed to BRICS, regardless of its presidency status. President Lula has previously emphasized UN Security Council reform and platforms facilitating trade among BRICS nations.
Brazil's BRICS Leadership
Brazil's BRICS leadership officially begins in January, but preparations started in October. Most meetings will occur in the first half of 2025, primarily in Brazil.
This presidency offers strategic opportunities for attracting investments, according to Larissa Wachholz, a senior fellow at the Brazilian Center for International Relations.
The New Development Bank (NDB ), established by BRICS, plays a crucial role in financing sustainable projects. Brazil has received about 18% of total NDB loans.
The bank not only provides direct funding but also helps secure capital from other sources. 2025 marks Brazil's third BRICS presidency, following 2014 and 2019.
The country faces pressure to achieve concrete results, given its history of productive leadership. The 2014 summit in Fortaleza saw the establishment of the NDB and the BRICS Contingent Reserve Agreement.
Brazil's presidency will oversee the integration of new BRICS members: Iran, UAE, Ethiopia, Egypt, and Saudi Arabia. The group is also considering applications from 34 potential partner countries.
This expansion reflects a desire to renew the international system through the Global South. The Brazilian government aims to create a more diverse and stable global financial system.
It seeks to develop a system less dependent on individual country fluctuations. Brazil's BRICS leadership in 2025 promises to be a pivotal moment in shaping the future of international cooperation and economic governance.
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