BRICS seventieth summit: focusing on geopolitical instability, economic cooperation

(MENAFN) Leaders and senior officials from BRICS member states are convening this Sunday and Monday in Rio de Janeiro for the alliance's 17th annual summit, with discussions expected to focus on geopolitical instability, economic cooperation, and the future direction of the bloc.

The meeting unfolds against a backdrop of mounting international tension, including recent Israeli and U.S. military strikes on Iran—a BRICS member since 2024—as well as ongoing crises such as the conflict in Ukraine and what many are calling a genocide in Gaza.

Concerns have also been reignited by Donald Trump’s return to the U.S. presidency and his renewed threats of imposing tariffs, which could directly affect BRICS economies.

Hosted by Brazilian President Luiz Inacio Lula da Silva, the summit’s agenda covers trade and investment partnerships, financial integration, artificial intelligence, technological advancement, global health, and climate action.

Originally founded in 2009 by Brazil, Russia, India, and China, with South Africa joining in 2010, BRICS has steadily expanded its ranks. It now includes 11 full members: Saudi Arabia, the United Arab Emirates, Egypt, Iran, Ethiopia, and Indonesia—the most recent addition.

A newly introduced category of “partner countries” was established at the 16th summit in Russia, with 10 nations, including Nigeria, Malaysia, and Vietnam, receiving this status as part of the bloc's broader outreach strategy.

Positioning itself as a representative of the Global South, BRICS now accounts for roughly 44% of global GDP and over 56% of the world’s population. The bloc continues to promote a multipolar world order and seeks to reduce Western dominance in global governance and financial systems.

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