The 17th BRICS summit, held on July 6-7 in Brazil, marked a crucial moment for a group seeking to position itself as a geopolitical alternative to the G7. However, what promised to be a consolidation event following the expansion of the group was overshadowed by significant absences and latent tensions in the world.
A larger but less cohesive BRICS
Under the presidency of Brazilian President Luiz Inácio Lula da Silva, the BRICS reaffirmed their commitment to multilateralism and reform of the international order. The bloc, which originally included Brazil, Russia, India, China and South Africa, officially welcomed new members such as Iran, Egypt, Ethiopia, Saudi Arabia, Indonesia and the United Arab Emirates, expanding its influence in the so-called Global South.
Despite this growth, the diversity of political regimes, regional interests and diplomatic positions among its members raises doubts about its effectiveness as a united bloc. While some countries, such as Brazil or India, are seeking greater prominence within international bodies, other newly appointed members show more conservative positions or aligned with powers like China or Russia.
The absences that marked the summit
The Rio meeting was marked by the physical absence of two key figures: Chinese President Xi Jinping and his Russian counterpart Vladimir Putin. The Chinese official claimed « agenda problems » and was replaced by Prime Minister Li Qiang.
For his part, Putin participated in a virtual way, avoiding the risk of being arrested in Brazil, a country signatory to the Rome Statute, which recognizes the authority of the International Criminal Court, which maintains an arrest warrant against him. The absences of the presidents of Egypt and Iran also detracted symbolism from the summit, weakening its global political weight.
A Global South that demands voice
During the discussions, BRICS advocated for a comprehensive reform of global governance institutions such as the UN, the IMF and the World Bank, arguing that they do not reflect the multipolar reality of the 21st century. With a combined weight of more than 40% of world GDP and one quarter of global trade, the bloc requires greater representation and decision-making power.
A central focus was the promotion of trade in local currencies to reduce dependence on the dollar. Although no progress was made towards a common currency, as some speculated, the leaders reaffirmed their intention to strengthen their own financial mechanisms, such as the New Development Bank (NDB), even with limited influence.
An ambitious declaration marked by diplomatic balance
The final act of the Rio summit reaffirmed the bloc’s fundamental principles, such as multilateralism, national sovereignty and the need for global reforms, while promoting the use of local currencies in trade between members as a way to reduce dependence on the dollar. The document included calls to transform institutions such as the UN, the IMF and the WTO, and reflected the group’s ambition for greater representation of the Global South. While avoiding direct references to the United States or specific conflicts, he addressed sensitive issues such as attacks on Russian infrastructure and tensions in the Middle East with diplomatic language. The final declaration, largely driven by Brazil, shows a bloc with global aspirations, albeit still conditioned by its own internal differences.
