The Brazilian government has announced that the next BRICS summit, featuring Brazil, Russia, India, China, South Africa, and other member countries, will be held in Rio de Janeiro on July 6-7. 

 

The summit will include leaders from 20 member and associate countries. 

 

The Brazilian Foreign Minister Mauro Vieira said the meeting will focus on important decisions for economic development, cooperation, and improving living conditions in member countries. 

 

The BRICS group, which has expanded to include Iran, Egypt, and the UAE, aims to strengthen ties with developing nations and reform global institutions under Brazil’s leadership.

 

President of Brazil Lula da Silva emphasized promoting trade and investment among members through local currency transactions. Although there are no plans to replace the US dollar, BRICS countries are exploring alternatives. 

 

This comes as US President Donald Trump has recently threatened 100 per cent tariffs on BRICS countries if they undermine the dollar.

 

BRICS was established in 2009 by Brazil, Russia, India, and China, with South Africa joining in 2010 as a counterbalance to the Group of Seven leading industrialized nations. 

 

Last year, the bloc expanded by adding Iran, Egypt, Ethiopia, and the United Arab Emirates. Saudi Arabia has also been invited to join. Turkey, Azerbaijan, and Malaysia have formally applied for membership, and several other countries have expressed interest. 

 

Recently, the bloc welcomed Indonesia as one of its 11 members and Nigeria as partner country, a designation introduced at the summit in Kazan, last year.