Brazil will aim to facilitate development of secure payment systems within the framework of its BRICS presidency in 2025, Brazil’s President Luiz Inacio Lula da Silva said at the meeting of BRICS Sherpas held in the Brazilian capital, Brasilia.
The meeting on February 24-25, brought together representatives from all 11 BRICS member countries.
Brazil, as BRICS 2025 president, said it will prioritize cooperation with the Global South and an agenda of social, economic and environmental development, with emphasis on six key areas: health, trade, climate change, artificial intelligence, reform of the multilateral security system and institutional strengthening of the bloc.
President Luiz Lula da Silva made a strong statement saying that BRICS will continue advancing the de-dollarization agenda. “Brazil is going during the period of its BRICS presidency to fully develop … transparent and safe payment systems,” the President said.
The Brazilian leader also urged BRICS countries to boost bilateral trade for the association to have even stronger ties. “The BRICS community became the driver of positive changes in our countries and globally,” Lula da Silva stressed. “At the same time, we face tasks to increase coordination [of efforts among BRICS members],” he added.
Observers note that the upcoming 17th summit could see massive changes in the way the bloc operates and settles cross-border transactions.
“Brazil is going during the period of its presidency to fully develop transparent and safe payment systems,” he said. The bloc will work towards launching safe payment systems to uplift their GDP and strengthen their native economies. The move will give a boost in the arm to their local currencies, making businesses thrive.
The next BRICS summit is scheduled to be held in Brazil’s Rio De Janeiro on July 6th and 7th. All the nine member countries will meet at the summit and discuss policies and sign new trade deals. Details on the new payment systems could be revealed at the 17th summit in July this year.
Sources:
- Watcher Guru, February 28, 2025. https://watcher.guru/…/brics-confirms-development-of…
- TASS, February 27, 2025. https://tass.com/economy/1919515
- China Daily, Feb 26, 2025. https://www.chinadaily.com.cn/…/WS67be730ba310c240449d7…
China Environment News 