BRICS Summit to ‘showcase rising voice of Global South’
The 17th BRICS Summit will be held in Rio de Janeiro, Brazil from Sunday to Monday local time. As the rotating chair of the bloc, Brazil is hosting the summit under the banner of "Strengthening Global South Cooperation for More Inclusive and Sustainable Governance."
Chinese Premier Li Qiang arrived in Rio de Janeiro on Saturday to attend the summit and met with Brazilian President Luiz Inacio Lula da Silva. Li stressed that China is willing to work in unity with developing countries to promote an equal and orderly multipolar world and a universally beneficial and inclusive economic globalization, and provide more certainty and stability for the world.
As this will be the first gathering since the group's expansion of new members and partner countries representing over half the world's population and 40 percent of its economic output, experts from around the world view the BRICS summit as a landmark event, which reflects a broader and more inclusive representation. It is poised to strengthen cohesion and cooperation among emerging markets, and powerfully showcase the rising influence of the "Global South" on the world stage, they noted.
Premier Li said on Saturday during meeting with President Lula that China is willing to work with Brazil to leverage each other's complementary advantages and expand cooperation in such areas as digital economy, green economy, sci-tech innovation and aerospace, according to the Xinhua News Agency.
Noting that China-Brazil relations are in their best shape ever, Li said both sides are working together to build a China-Brazil community with a shared future for a more just world and a more sustainable planet.
During Lula's visit to China in May, the two heads of state reached important consensus on pushing to build a China-Brazil community with a shared future and upholding multilateralism, Li said, adding that China is willing to work with Brazil to further consolidate and deepen bilateral cooperation in trade, finance and infrastructure development under the framework of high-quality Belt and Road cooperation.
The Chinese premier also met with Ethiopian Prime Minister Abiy Ahmed on Sunday on the sidelines of the 17th BRICS Summit.
Li said that China is willing to work with Ethiopia to promote joint efforts by all parties to practice true multilateralism, and firmly safeguard economic globalization and free trade, Xinhua reported.
First enlarged gathering
This BRICS Summit is taking place under distinctive circumstances that set it apart from previous gatherings, and comes at a critical juncture for global governance reform on the 80th anniversary of the United Nations, Xu Feibiao, director of the Center for BRICS and G20 Studies with the China Institutes of Contemporary International Relations, told the Global Times on Sunday.
"With the US bringing shockwaves to global economic landscape and accelerating the disintegration of the international order, the world is placing great hopes on BRICS to help stabilize the turbulent world and inject much-needed certainty into global affairs," Xu said.
As this will be the first enlarged BRICS meeting encompassing partner countries, Xu said, the outcomes will be crucial for determining the bloc's development trajectory. "While the enlarged membership has increased the group's collective weight and influence, it also faces challenges in internal coordination and external pressures seeking to divide the bloc. As to whether BRICS can translate its potential into concrete cooperative achievements, this summit is a crucial indicator of its future direction," Xu said.
Elaborating on the significance of this gathering, Wang Youming, Director of the Institute of Developing Countries at the China Institute of International Studies, added that against the backdrop of US tariff policies severely impacting global trade, the summit is expected to further emphasize support for the WTO-centered multilateral framework while proposing specific measures to enhance diversified trade cooperation among members and reduce dependence on any single market.
Regarding geopolitical tensions, BRICS nations are expected to offer fresh thinking for a comprehensive, balanced and sustainable security perspective that rejects the pursuit of "absolute security" at the expense of other nations' sovereignty, Wang said.
"In the face of the resurgence of protectionism, it is up to emerging nations to defend the multilateral trade regime and reform the international financial architecture," the Brazilian President told a BRICS business forum on Saturday. BRICS nations now represent over half the world's population and 40 percent of its economic output, Lula noted, Reuters reported.
Lula also highlighted that BRICS nations outpaced global economic growth in 2024 with an average rate of 4 percent, compared to the world's average 3.3 percent, and noted the group's potential as a "hub for prosperous and dynamic economies," TV BRICS reported.
The BRICS group gathered leaders from Brazil, Russia, India and China at its first summit in 2009. The bloc later added South Africa and last year included Egypt, Ethiopia, Indonesia, Iran, Saudi Arabia and the United Arab Emirates as full members.
This is the first leaders' summit to include Indonesia as a new member as well as 10 other partner countries. Meanwhile, over 30 nations have expressed interest in participating in BRICS, either as full members or partners, per media reports.
Since 2023, the BRICS mechanism has undergone two rounds of expansion, with a number of countries expressing interest in joining. This demonstrates the growing appeal and cohesion of BRICS amid global turbulence. "BRICS has now emerged as the vanguard of the Global South, and its continued expansion reflects developing nations' urgent desire for greater solidarity, sustainable development, and international peace," Xu told the Global Times.
"Unlike Western-dominated exclusionary 'small cliques' such as the G7 and NATO which prioritize narrow geopolitical interests, BRICS emphasizes equal consultation, mutual respect and win-win cooperation, with a firm focus on shared development," Xu said.
AI governance, climate in key focus
On the agenda for this year's summit, Brazil, the rotating chair, said it will focus on six key topics, including global health cooperation, trade, investment and finance, and climate change. It is also emphasizing artificial intelligence, governance, multilateral peace and security architecture, and institutional development, per media reports.
Experts pointed to three areas that are believed to be key focuses for this year's summit. First, emphasis will be placed on climate change and green energy transition before November's COP 30 climate talks in the Amazonian city of Belem. Second, to prevent AI monopoly by the West and bridge the digital divide, the summit is expected to prioritize making AI development more accessible, equitable and secure for Global South nations. Third, they will reaffirm the commitment to multilateralism, particularly in global health cooperation, Wang told the Global Times on Sunday.
BRICS members will also continue their focus on the US' tariff policy, observers said. At an April ministerial meeting, the bloc expressed concern about "unjustified unilateral protectionist measures, including the indiscriminate increase of reciprocal tariffs," according to Reuters.
The deadline set for major trading partners of the US to strike deals with Washington or face hefty tariffs expires next week on July 9, bringing to a close 90 days of volatility but leaving global investors in the dark over what will happen next.
Prior to the summit, the BRICS Finance Ministers and Central Bank Governors Meeting was held on Saturday in Rio de Janeiro. China's Minister of Finance Lan Foan said during the meeting that with global economic growth momentum weakening and protectionism severely impacting developing countries, BRICS nations should uphold the BRICS spirit of openness, inclusiveness and win-win cooperation. He emphasized the need to strengthen solidarity and jointly build a fair and reasonable global governance system, while remaining steadfast in embracing an economic globalization that is universally beneficial and inclusive.
China stands ready to work with all parties to support the operation and development of the New Development Bank, and will join fellow BRICS members in enhancing climate finance cooperation to bolster global climate action, Lan said.
The BRICS New Development Bank (NDB) announced on Saturday that Colombia and Uzbekistan have officially become new member countries, according to CCTV.
Since its establishment in 2015, the NDB has approved over 120 investment projects totaling $40 billion and spanning several key areas, including clean energy and energy efficiency, transport infrastructure, environmental protection, water supply and sanitation, social infrastructure and digital infrastructure, the NDB data showed.