The BRICS economic bloc, according to Brazil’s President Luiz Inacio Lula da Silva, does not seek to be “a counterpoint to the G7, G20, or the United States,” stressing that the BRICS nations “just want to organize ourselves. The Brazilian president promoted “the creation of a currency for trade and investment transactions between BRICS members.”
Three things that I want see come out of the #BRICSSummit2023:
– BRICS currency
– De-dollarization of trade
– Expansion of membership
Hopefully in future the economic bloc will establish its security pact to counter NATO. pic.twitter.com/C1f1Et6vWN
— Sentletse 🇷🇺🇿🇦 (@Sentletse) August 23, 2023
Lula: BRICS Not Seeking to Challenge US, G7, G20
On Tuesday in Johannesburg, Brazil’s President Luiz Inacio Lula da Silva gave his opinions on many issues relating to the BRICS economic bloc. For the annual BRICS meeting, which will be held in South Africa from August 22–24, the Brazilian president landed there on Monday. All of the BRICS leaders—Brazil, Russia, India, China, and South Africa—are present at the summit, although Vladimir Putin, the president of Russia, will not be there in person.
— The National (@TheNationalNews) August 22, 2023
Regarding the idea that the BRICS economic bloc may compete with the Group of Seven (G7), the G20, and the US, Lula emphasized:
We do not intend to compete with the G7, G20, or the US in any way. All we want to do is arrange ourselves.
One of the main themes covered at the BRICS conference was the growth of the BRICS bloc, which Lula also endorsed. He reiterated that he supported Argentina’s membership in the organization, saying, “We want BRICS to be a multilateral institution, not an exclusive club.”
201 kms covered in 10 days.Bharat Yatris walked 20 kms since morning. Turnout of crowds to witness the yatra has continued to swell in numbers. The overriding issue throughout the day is one of the main themes of the #BharatJodoYatra — unite to break the shackles of unemployment! pic.twitter.com/VsTebXceSO
— Jairam Ramesh (@Jairam_Ramesh) September 17, 2022
Lula is in favor of creating a single BRICS currency, which many believe will challenge the supremacy of the US dollar. At the BRICS summit’s opening session, he stated:
Our alternatives for payment are expanded, and our vulnerabilities are diminished, with the introduction of a common currency for trade and investment activities among the BRICS countries.