Ambassador Mauricio Lyrio, Brazil's representative to BRICS, said at a press conference that the proposals will be negotiated starting next week in Brasilia, where negotiators from the member countries of the emerging market forum will meet.

The BRICS group was founded by Brazil, Russia, India, China and South Africa and in recent months has accepted Egypt, the United Arab Emirates, Ethiopia, Iran, Indonesia and Saudi Arabia as new members, although the latter has not yet formalized its membership.

According to the Brazilian ambassador, emerging economies will continue discussions that have been ongoing for years to reduce trade costs, something that recently led US President Donald Trump to threaten to impose tariffs on emerging economies.

"One way to intensify our commercial and financial transactions is by reducing operating costs. We already exchange local currencies bilaterally in Latin America. But the creation of a common currency is not under discussion," Lyrio stated.

Lyrio also explained that one of the intentions of the Brazilian presidency of the group is to articulate a joint position for the United Nations Climate Change Conference (COP30), which will be held in the Amazonian city of Belém, in northern Brazil, in November.

Brazil's idea is to increase funding for environmental preservation in poorer countries, especially after the insufficient results obtained at COP29, held last year in Baku.

The meeting in Brasilia will be the first of this year's BRICS forum and will serve to begin preparations for the leaders' summit, scheduled for July 6 and 7 in Rio de Janeiro.

Delegates from the forum's associated states are also expected to participate in the meetings in Brasilia, including Bolivia and Cuba, representing Latin America, as well as Belarus, Kazakhstan, Malaysia, Thailand, Uganda, Uzbekistan and Nigeria.

Picture: © 2025 André Borges / EPA