Latin America strengthens trade ties with BRICS

Latin America continues to expand its trade and economic cooperation, both within the region and with BRICS countries, particularly Russia. Domingo Garcia, President of the Latin American Chamber of Commerce in Russia, shared practical examples of this growing relationship in an exclusive commentary at the TV BRICS studio in the Roscongress International Cooperation Area at St. Petersburg International Economic Forum ( SPIEF) 2025.

He emphasised that Latin America remains open to trade across a variety of strategic sectors. “We are just seeing an improvement in the trade from Russia to Brazil, particularly in diesel,” he said, noting that the fuel is essential for agricultural machinery. This increase in diesel imports is supporting Brazil’s vital farming industry.

On the reverse route, Latin American countries are shipping a range of key products to Russia. Coffee beans, cocoa, and dairy products are among the most prominent. As Domingo Garcia pointed out, “Russia is one of the highest in terms of consume of dairy products, such as milk, ice cream, cheese, yogurts, and kefir. […] So Russia is looking towards countries such as Brazil, Uruguay, and Argentina for these products.”

The President of the Latin American Chamber of Commerce in Russia also addressed broader BRICS cooperation. “Brazil is the only member of Latin America that is part of BRICS. There are other countries that are in the circle of cooperation, but Brazil is a key player,” he said.

Intra-regional trade within Latin America benefits from a common language, culture, and historical ties.

“There are cultural roots that help us do trade and there's a lot of trade happening between Mexico, Brazil, Chile, Argentina,” Domingo Garcia added, highlighting a regional unity that increasingly reaches across the Atlantic to Russia.

He also stressed the promising future of Latin American–Russian economic cooperation.

Photo: TV BRICS