Information Bulletin of the BRICS Trade Union Forum

Monitoring of the economic, social and labor situation in the BRICS countries
Issue 25.2025
2025.06.16 — 2025.06.22
International relations
Foreign policy in the context of BRICS
Vietnam enters the BRICS partnership circle (Вьетнам вступает в круг партнёров БРИКС) / Russia, June 2025
Keywords: brics+, Vietnam
2025-06-18
Russia
Source: brics-plus-analytics.org

Vietnam enters the BRICS partnership circle

Ahead of the BRICS summit in Brazil there is increasing newsflow on the widening of the array of emerging market economies that are raising their level of cooperation with the BRICS grouping. According to Brazil’s Ministry of Foreign affairs, one such economy is Vietnam that has become a member of the BRICS partnership belt in mid-June 2025[1] – this was later confirmed by Vietnam’s Ministry of Foreign affairs[2]. Vietnam has participated in the BRICS+ outreach meetings in 2024 and has developed close economic ties with a number of BRICS economies. The addition of Vietnam to the BRICS+ circle will add economic dynamism to the evolution of the bloc, with important additional effects relating to the greater scope for economic cooperation between BRICS and ASEAN.

Vietnam is the emerging powerhouse of Southeast Asia with a population of more than 100 million and some of the highest GDP growth rates in 2024. It has concluded a number of bilateral FTAs with such economies as Chile and South Korea as well as multilateral agreements with the Eurasian Economic Union (EAEU) and the Regional Comprehensive Economic Partnership (RCEP). Vietnam’s economy plays a key role in the assembly segments of such sectors as electronics, with some of the largest global companies such as LG, Samsung and Apple positioned in the country. In recent periods, Vietnam has also featured as an important gateway to supply chain diversification, though in the longer term the key challenge will be increasingly centering on the transition from serving as an assembly segment in global value chains to one of the key regional and global innovation hubs and digital economy centers.

For BRICS economies, a partnership with Vietnam will hence harbor important trade and investment benefits related to greater export opportunities in a growing market and production localization that may take advantage of the country’s competitive labor force. Vietnam’s diversified network of trade alliances may also be beneficial for the BRICS bloc in expanding its own network of trade and investment accords across the Global South. Vietnam may also feature as an important example for other regional economies of the possibility to combine BRICS partnership with continued constructive economic relations with other parts of the global economy, including the largest developed countries.
Another key implication of Vietnam’s accession to the BRICS partnership belt is the further improvement in the connectivity between BRICS and ASEAN. With Indonesia becoming a member of the BRICS core earlier this year, the addition of Vietnam to the BRICS partnership circle results in 4 out of 10 ASEAN members being either members of the core or BRICS partners. Within the partnership circle ASEAN now has 3 representative countries (Thailand, Malaysia, Vietnam) in the circle of 10 BRICS partner economies, making ASEAN the most represented region/bloc within this BRICS+ partnership category. Cambodia and Lao PDR have participated in the BRICS+ outreach meetings and may be considered as the potential partners of the BRICS bloc, which in turn implies that the majority of ASEAN members are making concrete and palpable steps towards building relations with BRICS.

In the end, Vietnam’s accession to the BRICS partnership circle transforms the BRICS+ bloc (if treated as core membership and the partnership belt) into a 10+10 format (10 core members (not counting Saudi Arabia) and 10 partner economies). Such a configuration may engender comparisons of BRICS+ with a G20 formation for the Global South (the global G20 platform has 21 de facto members if AU and the EU are counted, with BRICS+ also featuring 21 if Saudi Arabia is taken into account). For BRICS, the accession of Vietnam to the partnership circle may be viewed as the addition of one of the most dynamic economies from the most dynamic region of the world (ASEAN/Southeast Asia) within the most dynamic segment of the world economy (Global South). Such a valued addition to the BRICS+ platform also further facilitates the implementation of the format of “integration of integrations” (economic cooperation among the regional integration blocs) by forging closer linkages between BRICS and ASEAN. In this vein, there may be a pattern pursued by BRICS in further expansion of the core and the partnership circle whereby further additions come from some of the key participants in the respective regional integration arrangements of the developing world, providing thus more scope for the subsequent paradigm of “integration of integrations” within BRICS+ to unfold.  
[1] https://www.reuters.com/world/china/vietnam-admitted-brics-partner-country-brazil-says-2025-06-13/
[2] https://e.vnexpress.net/news/news/politics/vietnam-wishe

Yaroslav Lissovolik, Founder, BRICS+ Analytics
BRICS Brasil Bulletin #16 - OIJ secretary defends greater youth leadership and presence in BRICS decision-making (BRICS Brasil Bulletin #16 - Секретарь OIJ защищает более активную молодежную лидерскую позицию и участие в принятии решений в странах БРИКС) / Brazil, June 2025
Keywords: brics+, social_issues
2025-06-19
Brazil
Source: brics.br

In 2024, Alexandre Pupo became the first Brazilian to serve as Secretary-General of the International Youth Organization for Ibero-America (OIJ). At the BRICS Youth Summit, he championed youth leadership and emphasized South-South cooperation as a path to building a more inclusive and sustainable future. Listen the exclusive interview with Alexandre Pupo.

Reporter: In 2024, Alexandre Pupo made history by being elected Secretary-General of the International Youth Organization for Ibero-America (OIJ)—the first Brazilian to hold the post. The organization represents 21 countries, including BRICS partner nations such as Bolivia and Cuba. During the BRICS Youth Summit in Brasilia, Pupo spoke with the communications team from the BRICS Brasil website.

Secretary Pupo highlighted the New Youth Agenda, advocating not only for greater youth participation but for young people to lead debates and build their own forums. He views South-South cooperation as a strategic route to developing more inclusive global solutions. Here are highlights from the interview.

Reporter: Pupo, how does the International Youth Organization for Ibero-America align with BRICS?

Alexandre Pupo: He stated that the truth is, there’s a great deal of synergy. The Ibero-American community is made up largely of developing countries. So there’s a lot that connects the youth of the Global South—whether in Latin America, Ibero-America, or the broader world represented by BRICS.

Reporter: And what is the common demand uniting these young people?

Alexandre Pupo: He said that he thinks it comes down to one idea: youth want a future. On one hand, there are socioeconomic issues—barriers to employment, for instance. On the other, there’s the growing difficulty of imagining a future in the face of the climate crisis, digital transformation, and artificial intelligence.

Reporter: But how do we ensure that youth aren’t just seated at the table, but are actually making decisions?

Alexandre Pupo: He affirmed that he thinks this movement began with the demand for quotas—youth quotas in union leadership, in political party leadership. We said youth must have a seat at the table. And that’s essential: having youth at the table ensures that the next generation is engaged in the debate. But that’s not enough. What’s the point of having youth at the table just to check a box, to fulfill a protocol, if they aren’t helping define the direction of decision-making?

Reporter: To read the full interview, visit brics.br

English version by: Judas Tadeu de Azevedo Neto (POET/UFC)
Proofreading by: Kelvis Santiago do Nascimento (POET/UFC)
BRICS Brasil Bulletin #15 - In one of the year’s largest gatherings, BRICS youth advances on cooperation (BRICS Brasil Bulletin #15 - На одной из крупнейших встреч года молодежь БРИКС продвигается вперед в вопросах сотрудничества) / Brazil, June 2025
Keywords: brics+, social_issues
2025-06-19
Brazil
Source: brics.br

BRICS Brasil Bulletin #15 - In one of the year’s largest gatherings, BRICS youth advances on cooperation

At the Summit, young delegates signed a Memorandum with the participation of both member and partner countries, proposing a geopolitical approach that embraces generational inclusion. The Memorandum reaffirmed a shared agenda focused on sovereignty, diversity, and innovation. Listen to the full report here.

Reporter: Youth from across the Global South are making one thing clear: being present is not enough—they want to be heard. At the 11th BRICS Youth Summit, held this week at the Itamaraty Palace in Brasilia, a number of calls for genuine participation in decision-making processes echoed in multiple languages, urging that youth be included not only in discussions on sports, culture, and diversity but in the full range of issues shaping our global future.

According to Ronald Sorriso, National Youth Secretary at the Office of the Presidency, the renewal of multilateralism requires more than structural reforms such as strengthening BRICS—it demands generational transformation.

Ronald Sorriso: We in the Global South hold the largest share of young people on the planet in absolute terms. That means the future of this world must be built—starting now—at the hands of young people, especially those from the Global South. BRICS represents these nations, and through its inventiveness, creativity, and nonconformism, it can offer a new lens through which to view the world.

Reporter: As a result of this integration, BRICS member States signed a “Memorandum of Understanding on Cooperation in Youth-Related Affairs”. It promotes climate action, strengthens cooperation networks, and encourages active youth participation in public policymaking.
Debora John, a representative from Nigeria’s Federal Ministry of Youth Development, emphasized the importance of challenging the notion that governance is a space belonging to older generations only.

Debora John: The youth are the future. It is important that government look inward. It is important that youth take up challenges and also show interest because a lot of youth don't want to join governance. They feel governance are meant for older people and the youth have a great role in participating and such so the youth should be able encourage themselves to do it and we as representatives from different countries we have that sole responsibility of pushing that agenda.
Reporter: Nitesh Mishra, from India’s Ministry of Youth Affairs and Sports, echoed that sentiment. He underscored the fact that young people want to be where the future is being decided—and to take part in those decisions.

Nitesh Mishra: The youth are the ones who will set the future. So when we talk about Global South, youth realizes that the Global South faces the same problem and it is the youth who will give the same solution to all the problems which the Global South is facing. India formally forms the policies for Global South, all the development process which is needed for Global South and we on all platforms talk about Global South and how we can cooperate with each other.

Reporter: From creativity to defiance, youth from the Global South are showing they are ready—not to be seen as symbols, but to be recognized as agents of transformation.

English version by: Judas Tadeu de Azevedo Neto (POET/UFC)
Proofreading by: Enora Lessinger (POET/UFC)

BRICS Brasil Bulletin #14 - Education and Anti-Poverty Programs Help Prevent Terrorism, BRICS Group Find (Бюллетень БРИКС Бразилия № 14 - Программы образования и борьбы с бедностью помогают предотвратить терроризм, Группа БРИКС находит) / Brazil, June 2025
Keywords: brics+, social_issues
2025-06-19
Brazil
Source: brics.brlink

BRICS describes education and the fight against poverty as essential tools to combat terrorism. ABIN led the BRICS Counterterrorism Working Group’s discussions on technology, funding and deradicalization, reinforcing the importance of international cooperation. Listen to the full report here

Reporter: After three days of deliberations in Brasilia, the BRICS Counterterrorism Working Group concluded that promoting education and combating poverty were fundamental tools in the fight against terrorism, which often exploits minorities and vulnerable regions to sustain its operations. The Working Group is currently coordinated by the Brazilian Intelligence Agency (Agência Brasileira de Inteligência, ABIN).

According to the group, the financing of terrorism represents a global threat to peace and public safety, with far-reaching consequences for economic and social stability—underscoring the need for preventive strategies. Special concern was expressed for children and other family members exposed to adverse social conditions. Ana Ribeiro, Director of ABIN’s Department of External Intelligence and head of the Brazilian delegation to the Working Group, stressed that governments’ responses must be continuously adapted and updated in light of the rapidly shifting strategies, methods and tactics of terrorist groups and violent extremist movements.

Ana Ribeiro: We began by proposing the creation of a matrix to map supply and demand for training across all delegations. In addition, we showcased the progress Brasil has made in developing methodological and analytical benchmarks to assess violent extremism and guide the State’s response to the issue.

Reporter: The meeting also explored global trends in terrorism, with a focus on how extremist groups are leveraging emerging technologies. Artificial intelligence, for example, is increasingly used for recruitment and propaganda—something Director Ana Ribeiro highlighted.

Ana Ribeiro: In recent years, we’ve seen artificial intelligence become incorporated into terrorist propaganda and recruitment efforts in a powerful way. That was one of the key topics we discussed at the meeting. At the same time, we also discussed how governments might use these same technologies to strengthen their own capabilities.

Reporter: Walid Elfiky, head of the Egyptian delegation to the Counterterrorism Working Group, praised the depth of the discussions held and underscored the importance of coordinated action against terrorism and extremism.

Walid Elfiky: He stated that terrorism has no religion and cannot be attributed to any specific cultures or regions. In light of this, he argued that BRICS, with its diversity of nations, is uniquely positioned to develop effective strategies that can be presented in global forums such as the United Nations.

Reporter: ABIN will continue working to consolidate the proposals that were approved during the meeting in Brasília. The aim is for these mechanisms to be fully operational by next year, further strengthening BRICS cooperation in the fight against terrorism.
English version by: Judas Tadeu de Azevedo Neto (POET/UFC)
Proofreading by: Enora Lessinger (POET/UFC)
BRICS Brasil Bulletin #13 - BRICS Youth Discuss Fair Energy Transition & Prepare Contribution for COP30 (BRICS Brasil Bulletin #13 - Молодежь БРИКС обсуждает справедливый энергетический переход и готовит вклад в COP30) / Brazil, June 2025
Keywords: social_issues
2025-06-16
Brazil
Source: brics.brlink


The 7th BRICS Youth Energy Summit unveiled the first findings of the 2025 Youth Energy Outlook, which will be officially launched at COP30 in November. Listen to the report to learn more.

Reporter: Youth representatives from BRICS nations met this week to advance the dialogue on a just energy transition and strengthen cooperation across the Global South. Hosted at Brasil’s Ministry of Justice, the 7th BRICS Youth Energy Summit brought together young delegates to help shape the BRICS 2025 Youth Energy Outlook—set to be formally launched at COP30 in November.

Márcio Macêdo, Minister of the General Secretariat of the Presidency of the Republic of Brasil, praised youth delegates for their work and underscored the importance of sustainable energy.

Márcio Macêdo: “The energetic diversity of BRICS’ nations creates strategic complementarities, strengthens our cooperation in innovation, sustainability, and energy security. It also helps reinforce our autonomy in relation to other geopolitical blocs. BRICS has the potential to lead the global energy transition, particularly in the Global South, and our youth must play a central role in that process.”

Reporter: According to Alexander Kormishin, president of the BRICS Youth Energy Agency, the BRICS Youth Energy Cooperation Action Plan is one of the main outcomes of the summit.

Alexander Kormishin: Following the summit’s thematic session, the group willdiscuss the smooth integration of the newest BRICS member state into the community. Another item on the agenda is how all members can build a collective capacity to take to a new level BRICS youth’s energetic cooperation.

Reporter: The document is being structured around four main thematic pillars in line with Brasil’s BRICS presidency priorities in the energy sector: Sustainable Fuels for Climate Adaptation; Funding Energy Transitions and Securing Minerals for Clean Energy; Enabling Energy Access to Combat Energy Poverty with Affordable Solutions; Technological Advances for Low-Carbon Energy Systems.
Marcele Oliveira, Youth Climate Champion for COP30, also took part in the event. She highlighted the vital role of youth engagement within BRICS and noted that the group’s discussions would help inform the agenda of the Climate Summit, scheduled for November 10–21 in Belém, in the state of Pará (Brasil).

Marcele Oliveira: BRICS is a key milestone on the road to COP30. It’s essential that our youth voices show up united—our shared positions need to drive the conversations we want to see happen, especially when it comes to adaptation, climate funding, and a fair transition.

English version by: Judas Tadeu de Azevedo Neto (POET/UFC)
Proofreading by: Enora Lessinger (POET/UFC)
Investment and Finance
Investment and finance in BRICS
Unlocking global growth: the case for landlocked economies (Обеспечение глобального роста: аргументы в пользу экономик, не имеющих выхода к морю) / Russia, June 2025
Keywords: economic_challenges, expert_opinion
2025-06-20
Russia
Source: brics-plus-analytics.org

Unlocking global growth: the case for landlocked economies

The reigning paradigm of the breakthroughs and successes in economic growth performance in the past has largely revolved around coastal regions and countries such as South Korea, Chile or Singapore that were well integrated into global trade and markets via lower barriers and transportation costs. While these advantages continue to be valid and significant, there appear to be shifts in the global growth league tables that are suggestive of a stronger performance staged by landlocked economies. In the IMF’s 2024 database list of the world’s top-10 fastest growing economies half of the countries are landlocked (Niger, Kyrgyz republic, Rwanda, Tajikistan, Ethiopia)[1]. In terms of IMF’s 2025 GDP growth forecasts, 6 out of 10 fastest growing economies are landlocked, while half of the top-20 fastest growing economies in 2025 are landlocked countries; for 2026 GDP growth projections 7 out of top-10 growth outperformers are landlocked[2]. While such patterns may reflect more scope for higher growth from lower levels of production/development and the greater vulnerability of more open economies to bouts of protectionism currently afflicting international markets, there may be fundamental and long-term factors driving such outperformance.
In fact, the drivers of the strong growth of landlocked economies are quite diverse and include some of the fundamental trends affecting the global economy. We highlight the following factors favoring landlocked countries:

  • The rise in South-South trade and investment against the backdrop of mounting protectionism from some of the largest advanced economies.
  • Progress in regional integration across the developing world that benefits landlocked economies through connectivity projects.
  • The rise of the world’s digital economy that serves to lower the gravity of distance and lack of geographical access to global markets.
  • Climate change may also play a role as the rise in sea levels due to global warming may shift more of the global economic activity inland.
  • Alternative gateways to development and sources of development support, including via the creation of new institutions such as NDB and connectivity initiatives such as the BRI.
Of all of the blocs and groupings in the world economy, the BRICS is in a position to play a pivotal role in advancing the development of landlocked economies. While none of the G7 economies are landlocked, BRICS has recently strengthened ties and connection with such countries across all of the main regions of the Global South. In Africa Ethiopia, the largest landlocked economy in the world by population, became a member of the BRICS core circle in 2023-2024. In 2025 the creation of the BRICS partnership belt introduced 5 landlocked economies into the BRICS+ circle: Bolivia (the largest landlocked economy in Latin America by territory), Kazakhstan (the largest landlocked economy in the world by territory), Belarus (the largest landlocked economy in Europe by territory), Uzbekistan (the only large doubly landlocked country in the world), Uganda (one of Africa’s most dynamic landlocked economies and the second largest landlocked economy in the world by population). Until the recent accession of Vietnam to the BRICS partnership belt, landlocked economies held a majority in the BRICS partnership circle (5 out of 9 BRICS partners).
Addressing the needs of landlocked economies dovetails some of the key development priorities pursued by the BRICS bloc, most notably:

  • Advancing greater South-South economic cooperation (supporting landlocked economies may generate multiplier effects in terms of connectivity for neighboring developing economies)
  • Supporting regional integration across the developing world
  • Developing alternative connectivity routes in the world economy
  • Providing support to the most vulnerable economies of the Global South (Xi’s “no one is left behind” dictum) contrary to the “cumulative causation” paradigm of the status-quo
  • Supporting regions of the Global South such as Africa with a significant number of large landlocked countries
Granted, the emergence of a new pack of growth leaders from within the continental depths of the world economy (de profundis) is not a foregone conclusion. A lot will be riding on the success of the BRICS+ framework in promoting South-South cooperation and in building alternative supporting mechanisms for developing economies that are more tailored to addressing the needs of disadvantaged economies. In this respect membership of such landlocked economies as Ethiopia in NDB (whose application is already being reviewed by the Bank)[3] is crucial for building intra-continental connectivity linkages across the Global South. It may also be expedient for the Final Declarations of BRICS summits to accord due consideration to the support for landlocked economies, including in the context of advancing the United Nations recently adopted Awaza Programme of Action for Landlocked Developing Countries for the Decade 2024–2034[4]. Supporting the growth of landlocked economies may deliver the modernization success stories that may strengthen BRICS credibility on the international stage.

For investors and portfolio managers, the trends in the global economy described above may be suggestive of potential new pockets of growth coming from the emerging market space. The expansion in the supporting mechanisms for some of the landlocked economies and the greater connectivity activism across the Global South may attenuate some of the macroeconomic imbalances in these economies, allowing thus more scope for the growth potential to be realized. The roadmap for such breakout nations of the developing world has already been explored in our previous publications[5] (in 2023 we pointed to the scenario of some of the landlocked economies turning into breakout growth outperformers) – in our view it will be partly a function of the broader global and regional dynamics between the leading economies of the world and the possibilities for some of the landlocked in-between economies to capitalize on the growing economic interaction between the heavyweights of the Global South. The ongoing reconfiguration of the global economy led by the developing world will give rise to new growth paradigms and new growth champions with some of the landlocked economies having the potential to move up decisively in the global growth rankings.

[1] https://www.imf.org/external/datamapper/NGDP_RPCH@WEO/OEMDC/ADVEC/WEOWORLD
[2] The share of 50-70% of growth outperformers in the top-10 is well above the share of landlocked economies in the world economy equal approximately (depending on methodology and the array of economies in the global total) to one-fifth.

Furthermore, based on the IMF’s WEO database, my calculations also suggest that for landlocked developing countries (LLDCs) the simple (not weighted by GDP) average growth rate in 2011-2020 was 0.7 percentage points below the average for all emerging market and developing economies, in the 1990s this difference amounted to a negative gap of 1.6 percentage points, while for the 2021-2030 period (includes the 2025-2030 period as IMF projections) it is close to zero (and positive if one-off sizeable changes are excluded for countries such as South Sudan). A calculation that is undertaken on the basis of weighted averages (by GDP size) would likely shift the balance further in favor of LLDCs.
[3] https://tvbrics.com/en/news/new-development-bank-reviews-ethiopia-s-and-indonesia-s-applications-to-join-organisation/
[4] https://www.un.org/en/landlocked/awaza-programme-action-lldcs#:~:text=The%20Programme%20of%20Action%20for,global%20challenges%20of%20our%20time.
[5] https://brics-plus-analytics.org/the-new-breakout-nations-what-role-for-brics/. In this publication published back in 2023 we singled out some of the landlocked in-between economies among the potential growth outperformers globally – something that has come to pass to a significant degree in 2024 and appears to be further in motion in 2025.

Yaroslav Lissovolik, Founder, BRICS+ Analytics
A BRICS+ Development Agenda for the Global South (Повестка дня развития БРИКС+ для глобального Юга) / USA, June 2025
Keywords: economic_challenges, expert_opinion
2025-06-19
USA
Source: www.project-syndicate.org

In the face of a fragmenting global economy, Brazil’s BRICS+ presidency offers a historic opportunity to develop a model of cooperation attuned to the Global South’s development needs. Despite member states' diverse perspectives, all should recognize the value of policy coordination.

RIO DE JANEIRO – On July 6-7, Rio de Janeiro will host the BRICS+ Summit of presidents and heads of state. With ten current member states and many others seeking to join, the BRICS+ brings together countries with diverse political, cultural, and civilizational outlooks, but which share a commitment to fostering South-South cooperation and pursuing a more equitable, multipolar global order.

  1. Politics6
  2. America’s Weak Strongman
  3. Timothy Snyder observes that countries like Russia and China understand the meaning of TACO better than Wall Street does.

Such efforts are needed more than ever, because climate-change mitigation and adaptation cannot be separated from socioeconomic development. From a production standpoint, responding to such a complex, multifaceted challenge requires integration into higher rungs of the value chain, through strategies underpinned by strong sustainability principles. In practice, that means adopting policies to incentivize energy-efficient production methods and an expansion into higher value-added industrial outputs.

But industrial decarbonization depends on knowledge-intensive sectors and technologies, and investments in these areas do not arise organically from market dynamics. They require political will, strategic planning, a risk appetite for long-duration projects, and – crucially – increased productivity through the more efficient use of natural resources. Such an agenda demands empowered states; it calls for a strategic mobilization of public institutions that can operate with relative independence from fiscal constraints.

In this context, the BRICS+ should focus on identifying complementarities across strategic sectors and activities, so that member states can drive innovation and strengthen their international competitiveness without undermining each other. Initiatives such as the Partnership for the New Industrial Revolution (PartNIR) represent important steps in this direction.

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But moving beyond dialogue is essential. To translate commitments into concrete action, policymakers must engage a broader coalition of stakeholders – including companies, civil society, trade unions, and academia – to co-develop policies, guiding principles, and common standards. Creating shared value among businesses and communities not only strengthens relationships but also enhances sustainability and those businesses’ reputations. This, in turn, fosters greater public acceptance and reduces the potential for resistance or conflict.

Specifically, new investments could require labor safeguards such as fair working conditions, the prohibition of child and forced labor, and protection of freedom of association and collective-bargaining rights, all in accordance with international agreements and national legislation. Additionally, safeguards promoting gender equality and the elimination of racial discrimination would support a more inclusive and comprehensive understanding of sustainability, informed by the perspectives of the Global South.

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Finance is another critical pillar. Here, the discussion should be led by members’ state-owned financial institutions, since these are best positioned to direct capital to strategic sectors and coordinate their efforts with private investors. BRICS+ countries already have dozens of public development banks and sovereign wealth funds with patient-investment (long-term) mandates, technical expertise, and demonstrable experience in supporting structural change and sustainable development initiatives. These institutions offer fertile ground for further cooperation, particularly through innovative financial instruments that could strengthen the role of the New Development Bank.

Importantly, public development banks and sovereign wealth funds must go beyond merely correcting market failures. They should serve as early-stage investors to catalyze the necessary structural transformation, including by attaching social and environmental conditionalities to their investment frameworks to influence private decisions across the value chain. For example, a company could be required to share its technology and knowledge to receive public financing. That is how the state can foster new markets and ensure that public support contributes to building more inclusive and sustainable economic models.

With clear short-, medium-, and long-term targets – like the BRICS+’s goal of tripling renewable energy capacity by 2030 – public programs to direct resources toward specific sectors would naturally enhance coordination. Each member state will need to adopt policies to target sectors that are ripe for productivity and efficiency enhancements. Input-output dynamics can be shaped through a number of channels, including effective demand, derisking mechanisms, reduced unit production costs, and measures to encourage private investment, including through public procurement.

The value chains for critical minerals and energy bio-inputs (such as sustainable aviation fuel) are two such sectors. Countries like Brazil have already made advances in these domains and are in a position to share some technologies and expertise in exchange for strategic financing.

An effective BRICS+ development agenda will require a coordinated mobilization of resources and institutional efforts, with the state playing a central role in steering the overall strategy. More than just an investor or financier, the public sector is uniquely positioned to anchor private expectations in an increasingly uncertain world. Brazil’s BRICS+ presidency, which comes at a time of rising protectionism and global economic fragmentation, offers a historic opportunity to advance a model of cooperation attuned to the Global South’s economic realities and development imperatives.
Political Events
Political events in the public life of BRICS
Briefing by Foreign Ministry Spokeswoman Maria Zakharova, St Petersburg, June 19, 2025 (Брифинг официального представителя МИД России Марии Захаровой, Санкт-Петербург, 19 июня 2025 г.) / Russia, June 2025
Keywords: mofa, quotation
2025-06-19
Russia
Source: mid.ru

Question: I have worked in Russia for many years. I was the sole Italian journalist present at the BRICS summit in Kazan in November 2024. I would like to present you with my book.

I would also like to ask about the future of BRICS, given the escalation in Iran and the Middle East.

Maria Zakharova: It seems to me that, had the world – the Global Majority – not already demonstrated its collective will to unite, and consequently, its determination to resist the imposition of the minority’s will, there would be a far greater number of such escalations. These would, without fail, culminate in tragedy.

Today, the international community – the Global Majority – is doing everything in its power to de-escalate the situation. We see that BRICS states, in a manner akin to Russia, albeit through differing rhetoric and formats, are acting along the same lines. Therefore, the question should not be what future awaits BRICS, but rather how this group is already responding to such challenges.

I have no doubt that BRICS – alongside other associations embodying multipolarity – will continue to exist and evolve. BRICS began as RIC, then became BRIC, and later BRICS, and now encompasses a significantly larger number of countries. It is alive; it is evolving. The group will take on different forms and make different decisions. It is a truly dynamic structure – not rigid, not artificial, not lifeless – but living. Its goals and objectives are “alive.”

I am confident that, through various trials, it will only grow stronger in its positions. Why? Because its goals are noble – they are neither destructive nor aggressive.
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