Settlement in national currencies on BRICS agenda

Moscow [Russia], July 2 (ANI): As anticipation builds for the upcoming BRICS Summit scheduled for 6-7 July, Brazilian academic Lier Pires Ferreira has outlined the forum’s key focus areas. Speaking to Toda Palavra, a media partner of TV BRICS, the professor from the BRICS Research Centre at the Federal University of Fluminense described the outlook as “favourable," highlighting that the meeting will address major political, economic, and social priorities shared by member states.

From a political perspective, Ferreira said the summit will underline the importance of safeguarding multilateralism and reforming global governance. He noted that the BRICS bloc is expected to push for broader participation from countries in the Global South in international decision-making forums, an effort aimed at creating a more balanced world order.

On the economic front, a significant portion of the agenda will revolve around expanding mutual trade using national currencies. Ferreira observed that this shift away from dollar dependency aligns with long-standing efforts to strengthen intra-BRICS economic cooperation. Sustainable development and deeper energy integration, already embedded in the group’s investment roadmap, are also likely to gain renewed momentum, as reported by TV BRICS.

The professor also pointed to a growing emphasis on social issues. Under Brazilian President Luiz Inacio Lula da Silva’s leadership, he said, Brazil is steering conversations around digital connectivity and the fight against hunger and poverty, both of which are expected to figure prominently during the summit.

In light of shifting geopolitical dynamics, Ferreira further suggested that the bloc may explore the establishment of independent mechanisms to resolve disputes among member nations–an initiative that would enhance strategic autonomy and cooperation.

The summit is expected to reinforce BRICS’ evolving role as a platform for inclusive global development and balanced multipolar engagement. (ANI)

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