What to expect from BRICS summit in Brazil: A preview of key priorities

The upcoming summit of BRICS in Rio de Janeiro, Brazil, scheduled to be held under the theme of "Strengthening Global South Cooperation for More Inclusive and Sustainable Governance" on July 6 to 7, 2025, is set to mark a historic milestone.

It will be the first convening of BCRIS – an acronym derived from its first five members: Brazil, Russia, India, China and South Africa – under an expanded format that now includes 11 full member states and 10 partner countries.

Since assuming the BRICS presidency on January 1, 2025, Brazil has stressed that its work will focus on two main priorities: strengthening cooperation among the Global South and advancing reform of global governance.

To that end, it has outlined six core areas: cooperation in global health and public health systems; trade, investment, and financial collaboration; joint efforts to combat climate change; governance of artificial intelligence; reform of the global security architecture; and institutional development of the BRICS mechanism.

The following is a breakdown of how some of these areas are likely to be spotlighted during the two-day summit.

1. Trade, investment collaboration

The BRICS summit comes amid escalating global trade tensions. The United States, under President Donald Trump, has been wielding tariffs as a weapon, delivering an unprecedented blow to the multilateral trading system centered around the World Trade Organization (WTO).

As the 90-day grace period for the Trump administration's so-called "reciprocal tariffs" nears its July 9 expiration, the world is closely watching how the situation will unfold, and what kind of global trade governance proposals the BRICS summit might introduce in response.

Since the sweeping tariffs introduced by the U.S. in early April, BRICS – which now represents nearly half of the world's population and accounts for over 30 percent of global GDP – has denounced the unilateral protectionist practice that violates WTO rules.

In a chair's statement issued in late April, foreign ministers of the group warned the arbitrary imposition of so-called "reciprocal tariffs" threatens to disrupt global supply chains and increase economic uncertainty worldwide.

In response, the foreign ministers called on all parties to take concrete steps to defend free trade and uphold the multilateral trading system. They emphasized the need to address current trade challenges and create a favorable environment for trade and investment, especially for emerging markets and developing countries.

The BRICS group aims to advance the Partnership for the New Industrial Revolution (PartNIR) and adopt long-term strategies like the 2030 Strategy for the BRICS Economic Partnership, both of which are designed to strengthen intra-BRICS trade, and reduce external vulnerabilities, including those caused by unilateral tariffs and global supply chain disruptions.

Read more:

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2. Financial governance

Under Brazil's presidency, BRICS is exploring reforms and improvement of governance of financial markets, local currencies, and payment instruments and platforms to boost and diversify trade, investment and financial flows.

Over the years, BRICS has launched a series of strategic financial initiatives, offering credible alternatives for developing countries and challenging the long-standing dominance of Western-led financial systems.

In 2014, the group established the New Development Bank (NDB) to finance infrastructure and sustainable development projects across emerging economies. The bank currently has nine members: Bangladesh, the United Arab Emirates, Egypt and Algeria, as well as BRICS' first five members.

Also in 2014, the BRICS group created the Contingent Reserve Arrangement (CRA), a financial safety net akin to the International Monetary Fund's Special Drawing Rights. The CRA is designed to provide emergency liquidity support to member states during global financial crises, strengthening their capacity to withstand external shocks and reducing dependence on traditional Western institutions.

According to a recent CGTN poll, BRICS countries have actively advanced local currency settlements and the development of an independent financial architecture through initiatives like the NDB and the CRA, expanding development opportunities and delivering benefits to developing countries.

Notably, 94.7 percent of respondents believe that the BRICS cooperation mechanism has not only reduced member states' reliance on the U.S. dollar but also enhanced their voice in global financial governance.

At the upcoming summit, the group is expected to unveil a new guarantee fund backed by the NDB — modeled after the World Bank's Multilateral Investment Guarantee Agency (MIGA) — to lower financing costs and attract private investment, according to Reuters.

3. Coordination on security stance

The Rio de Janeiro BRICS summit comes at a time of heightened geopolitical volatility, marked by the recent 12-day Israel–Iran conflict and the ongoing Ukraine crisis.

On June 24, BRICS issued a joint statement expressing grave concern over military strikes on Iranian territory, calling them violations of international law and the Charter of the United Nations, and warning of their destabilizing impact on Middle East security.

Iran, which joined BRICS in January 2024, is expected to send a high-level delegation to the summit, according to media reports.

Meanwhile, BRICS foreign ministers have also welcomed diplomatic efforts to resolve the Ukraine crisis, including the establishment of the "Friends for Peace" group at the UN, an initiative led by China and Brazil to promote de-escalation, dialogue and a political settlement to the Ukraine crisis.

These parallel crises highlight BRICS' commitment to a multilateral peace and security architecture, one that aims to enable more effective responses to conflicts, prevent humanitarian disasters and the emergence of new crises, and to rebuild mutual trust, revive diplomacy, and promote peaceful resolutions.

4. Climate change and AI governance

At the 17th BRICS summit, climate change and artificial intelligence governance are emerging as two of the most prominent agenda items, reflecting the group's commitment to global sustainability and responsible governance of AI technology.

Brazil, which will host the UN Climate Change Conference in 2025 (COP30) in the Amazonian city of Belem this November, has made climate finance a top priority of its BRICS presidency.

The BRICS summit may serve as a platform for coordination among member states to discuss improving climate finance mechanisms, laying the groundwork for the upcoming COP30.

Brazil has said during its presidency, the group is expected to adopt a BRICS Climate Leadership Agenda, including a Leaders' Framework Declaration on Climate Finance, which aims to guide structural reforms in the global financial system to better support climate action.

Governance of artificial intelligence is a new agenda at this year's summit, in recognition of AI's transformative potential for driving social, economic and environmental development.

In the April statement, foreign ministers of BRICS emphasized that AI technologies must be designed, developed and applied in a responsible, secure, trustworthy and ethical manner to ensure that innovation benefits all.

They also reiterated support for a China-sponsored resolution on "Enhancing International Cooperation on Capacity-Building of Artificial Intelligence," adopted by the UN General Assembly in 2024.

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