Brazil’s Foreign Minister Mauro Vieira said BRICS is getting closer to being a G20.

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With Brazil set to be the chair of BRICS in 2025, Vieira outlined plans for high level meetings to elevate the bloc’s presence on the world stage. This is a big moment for BRICS as it seeks to redefine its role in the global economic and political landscape.

Brazil’s Plans for BRICS in 2025

In 2025, Brazil will host ministerial and head of state meetings. Vieira said BRICS, which was formed in 2006 with Brazil, Russia, India and China, has grown a lot since then. South Africa joined in 2011 and Egypt, Iran, UAE and Ethiopia have joined recently.

This comes as BRICS is getting more attention globally as it positions itself as a collective force. “BRICS is practically a G20,” Vieira said, as the bloc becomes more relevant to tackle global challenges. The 2025 meetings under Brazil’s chairmanship will try to capitalize on this momentum to put BRICS at the center of international decision making.

Putin’s Stance on BRICS’ Objectives

Russian President Vladimir Putin said during a year-end press conference that BRICS is a cooperative body. “We are not against anyone; we are working in our own interests and those of the member states.” He said BRICS’ appeal is in its principles of reciprocity, mutual respect and consensus.

Putin said BRICS is a platform for inclusive development to drive global growth and adapt to the future. “The BRICS countries and the organization as a whole will move forward.” This is in contrast to other international bodies.

BRICS vs. G20: A Rising Power

As the G20 (19 countries and the European Union) is expanding to include the African Union, BRICS is evolving as an alternative platform for global cooperation. BRICS’ growth is strategic, with India and China leading the economic growth and new members bringing diverse perspectives.

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2025 BRICS agenda: strengthen the bonds among the members, promote equal development and tackle global economic challenges. Key points:

• Membership growth: UAE and Ethiopia joined recently.

• Collaborative agenda: reciprocity and consensus.

• Leadership: Brazil will push BRICS to have global impact in 2025.

With its growing muscle BRICS will challenge the traditional economic forums and offer a global development vision of inclusivity and shared prosperity.

Arslan Butt

Index & Commodity Analyst

Arslan Butt serves as the Lead Commodities and Indices Analyst, bringing a wealth of expertise to the field. With an MBA in Behavioral Finance and active progress towards a Ph.D., Arslan possesses a deep understanding of market dynamics.

His professional journey includes a significant role as a senior analyst at a leading brokerage firm, complementing his extensive experience as a market analyst and day trader. Adept in educating others, Arslan has a commendable track record as an instructor and public speaker.

His incisive analyses, particularly within the realms of cryptocurrency and forex markets, are showcased across esteemed financial publications such as ForexCrunch, InsideBitcoins, and EconomyWatch, solidifying his reputation in the financial community.