BRICS Bloc Prioritizes Building Relationships, Not Conflict, Says Official
Brazil will prioritize building relationships and avoiding conflict as it takes on the rotating presidency of the BRICS bloc, a top official said. Eduardo Saboia, head of the upcoming BRICS summit in Rio de Janeiro in July, dismissed threats from US President Donald Trump to impose 100% tariffs on BRICS nations, saying there is no plan to replace the dollar.
Instead, Saboia emphasized the bloc’s goal of increasing trade, investments, and reducing transaction costs, with a discussion to use local currencies in transactions. As holders of dollar reserves, BRICS countries aim to diversify options to give economic actors more flexibility in their transactions.
Saboia stressed that BRICS countries are not anti-West, but rather seek collaboration to build a better world. The bloc has grown in importance as a counterweight to the West, but its members are focused on cooperation, not conflict.
Noting the bloc’s focus on science and technology, finance, health, and international forums, Saboia said the emphasis is on collaboration and building a better world, with no focus on other countries or leaders. The BRICS bloc was founded in 2009 with founding members Brazil, Russia, India, and China, and has since expanded to include South Africa, Iran, Egypt, Ethiopia, the United Arab Emirates, and most recently, Indonesia.