Haddad says Brics should not antagonize other global blocs

Finance Minister Fernando Haddad said this Tuesday (22) that the Brics, the group of large developing nations, should not antagonize other global blocs.

The placement is important in the context of discussions to expand the group, which is being discussed at the 15th BRICS Summit, in Johannesburg, South Africa.

China and Russia, in particular, have been advocating for more countries to join the bloc, which could turn it into a direct rival of the G7, the group of large economies and democracies led by the United States.

“We believe that the Brics have a great contribution to make. Brazil, South Africa, India, China and Russia can, each from their perspective, offer the world a vision that is consistent with their purposes. And that it does not mean any kind of antagonism to other important forums in which we participate”, said the minister.

See also: China and Russia push for Brics expansion

China and Russia push for Brics expansion | LIVE CNN

Beijing and Moscow want a stronger Brics with more participants to use it as a platform of power in the chessboard of international geopolitics.

The Chinese see the group as an alternative to the G7 and global governance bodies that Beijing says are dominated by the West. This is important for China at a time of strong geopolitical disputes with the United States.

The Russians also want more allies as they face deep Western sanctions over their invasion of Ukraine.

In addition to the function of the Brics, Haddad also stated that the tax reform should be approved later this year by Congress. He also defended Brazilian agribusiness and the country’s generation of clean energy, stating that global partnerships in these sectors are very important.

The Brics Business Forum brings together businessmen and industry representatives from all countries in the bloc and from other invited nations.