Brazilian expert: BRICS summit to discuss transition to settlements in national currencies

Lier Pires Ferreira, Professor at the BRICS Research Centre at the Federal University of Fluminense, described expectations for the upcoming summit, which will take place on 6-7 July, as favourable in an interview with Toda Palavra, a partner of TV BRICS.

According to him, the summit will focus on key issues that are important to the BRICS countries. From a political point of view, the emphasis will be on protecting multilateralism (a system of international relations in which important decisions are made jointly) and reforming the global governance system to expand the participation of countries in the Global South in decision-making.

The economic agenda of the summit, according to the expert, will also be rich. One of the priorities will be the development of mutual trade in the currencies of the association's countries. Discussions are also expected on sustainable development and energy integration, which are already part of the BRICS investment strategy and are expected to receive additional impetus.

Another topic of the meeting will be the social agenda. Ferreira noted that Brazil, under the leadership of President Luiz Inacio Lula da Silva, is actively promoting initiatives in digital integration and the fight against poverty and hunger.

In addition, as the expert emphasised, against the backdrop of the changing international situation, the BRICS countries may consider the possibility of creating their own dispute resolution mechanisms.

Photo: Toda Palavra