Brazil To Host Next BRICS Summit in Rio D Janeiro on 6-7 July

Brazil will be hosting the next BRICS Summit in its capital city of Rio D Janeiro on 6-7 July. The country will lead the block of some of the fastest developing economies of the world. This leadership will last throughout 2025 and will aim to reform global governance and strengthen corporation amongst Global South nations.

BRICS was founded in 2009 by Brazil, Russia, India, and China while South Africa joined a year later. The collective was a counterweight to the Group of Seven (G7) block that included the leading economies of the world. Now, BRICS includes Iran, Egypt, Ethiopia and UAE, which were included last year. Saudi Arabia has also been invited to become part of the block while Turkey, Azerbaijan and Malaysia have formally applied for its membership.

‘Partner Country Status’

Very recently Indonesia became one of the BRICS 11 official members and Nigeria was given a partner country status. The ‘partner country status’ was a designation introduced at the 2024 Summit in Kazan, which gave a few countries a permit to take part in the summit and attend other meetings, if all other members agree.

This year, the leadership lies with Brazil. The country’s Prime Minister Mauro Vieira told reporters “We will make crucial decisions for development corporation and improving the lives of all the inhabitants of these countries.”

US President Donald Trump has repeatedly warned of imposing hundred per cent tariffs on BRICS nations if they take steps against the US dollar. However, BRICS remain committed to establishing an alternative payment system independent of the dollar.