With forums such as the G7 and G20 groups of major economies hamstrung by divisions and the disruptive “America First” approach of the U.S. president, BRICS is presenting itself as a haven for multilateral diplomacy amid violent conflicts and trade wars.
“BRICS is the heir to the Non-Aligned Movement,“ Lula told leaders. “With multilateralism under attack, our autonomy is in check once again.”
Hours later, Trump warned he would punish countries seeking to join with the grouping.
Trump did not clarify or expand on the “Anti-American policies” reference in his post.
BRICS nations now represent more than half the world’s population and 40% of its economic output, Lula noted in remarks on Saturday to business leaders, warning of rising protectionism.
More than 30 nations have expressed interest in participating in the BRICS, either as full members or partners.
Expansion of the BRICS has added diplomatic weight to the gathering, which aspires to speak for developing nations across the Global South, strengthening calls for reforming global institutions such as the United Nations Security Council and the International Monetary Fund.
Stealing some thunder from this year’s summit, Chinese President Xi Jinping chose to send his premier in his place. Russian President Vladimir Putin is attending online due to an arrest warrant from the International Criminal Court.
However, there are questions about the shared goals of an increasingly heterogeneous BRICS group, which has grown to include regional rivals along with major emerging economies. In the joint statement, the leaders called attacks against Iran’s “civilian infrastructure and peaceful nuclear facilities” a “violation of international law.”
The group voiced its support for Ethiopia and Iran to join the World Trade Organization, while calling to urgently restore its ability to resolve trade disputes. The leaders’ joint statement backed plans to pilot a BRICS Multilateral Guarantees initiative within the group’s New Development Bank to lower financing costs and boost investment in member states, as first reported by Reuters last week.
Brazil, which also hosts the United Nations climate summit in November, has seized on both gatherings to highlight how seriously developing nations are tackling climate change, while Trump has slammed the brakes on U.S. climate initiatives.
China and the UAE signaled in meetings with Brazilian Finance Minister Fernando Haddad in Rio that they plan to invest in a proposed Tropical Forests Forever Facility, according to two sources with knowledge of the discussions about funding conservation of endangered forests around the world.
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