Brazil Prioritizes Building Global Relations During BRICS Presidency
BRASILIA:
Brazil, during its term as the rotating president of the BRICS bloc, aims to foster cooperation and strengthen global relationships rather than contribute to the already tense international climate, a senior diplomat shared with AFP.
Eduardo Saboia, a diplomat leading the upcoming BRICS summit scheduled for July in Rio de Janeiro, dismissed concerns about incoming U.S. President Donald Trump’s threats to impose hefty tariffs on BRICS nations if they challenge the dominance of the U.S. dollar.
In an interview on Thursday, Saboia clarified that BRICS has no intentions of replacing the dollar. Instead, the focus is on promoting the use of local currencies to enhance trade efficiency.
“Our goal is to boost trade, increase investments, and reduce transaction costs among BRICS countries. Discussions about using local currencies are centered on providing economic actors with more options, not on imposing changes,” Saboia stated.
He emphasized that while BRICS nations hold significant dollar reserves, exploring diverse transaction methods will create flexibility for businesses and economic stakeholders.
Although the BRICS bloc has increasingly positioned itself as a counterbalance to Western influence, Saboia underscored the importance of maintaining constructive international relationships.
“We seek to build bridges, not worsen tensions,” he added, signaling a diplomatic and inclusive approach to global economic cooperation.
