The meeting of BRICS Foreign Ministers in Brazil on April 28-29, 2025 focused on the single most important challenge posed to the bloc and the global economy – the sharply higher import tariffs from the United States. Participants in the meetings noted the centrality of the theme of BRICS common response to this challenge, though their statements also reflected the nuances and differences in the approaches of the various BRICS members. Perhaps for the first time the trade agenda featured so prominently in BRICS high-level discussions, though in the near term the responses to US tariffs are likely to be undertaken mostly via bilateral measures rather than coordinated steps involving all BRICS members.
The meetings featured not only the members of the BRICS core, but also the bloc’s recently created partnership belt – something that further served to foster closer ties within the wider BRICS+ circle. According to the Declaration of the BRICS Presidency the full participation of member states (Brazil, Russia, India, China, South Africa, Egypt, Ethiopia, Indonesia, Iran, Saudi Arabia, and the United Arab Emirates) and partner economies (Belarus, Bolivia, Cuba, Kazakhstan, Malaysia, Nigeria, Thailand, Uganda, and Uzbekistan) “reinforces the active interest in coordinated action on the priorities of the Global South”[1]. In article 2 of the Declaration of the BRICS Presidency, the BRICS welcomed Indonesia as the new member of the bloc and the new partners of the BRICS grouping.
In the economic sphere, the focus was on trade issues due to the massive impact from the rising US import tariffs. Article 11 of the Declaration “expressed serious concern at the prospect of a fragmented global economy and the weakening of multilateralism and their support for the open, transparent, fair, predictable, inclusive, equitable, non-discriminatory and rules-based multilateral trading system with the World Trade Organization (WTO) at its core”. While, the US was not explicitly mentioned in the Declaration, participants at the meeting have indicated that US tariffs were at the center of the economic discussions at the meetings[2].
Article 12 of the Declaration expressed support to the WTO in the face of mounting protectionism and states that BRICS members “reaffirmed their commitment to continue to promote the necessary reform of the WTO to improve all its functions while strengthening its foundational principles… [and] underscored the need to strengthen the WTO in light of emerging arbitrary unilateral and protectionist measures”. There was also an important reference to the coordination of BRICS efforts with respect to WTO reform, with the article 12 of the Declaration referring to the “commitment to enhancing dialogue on multilateral trading system and WTO-related issues through the BRICS Informal Consultative Framework on WTO”, with BRICS members agreeing “to participate actively in the preparation for the WTO 14th Ministerial Conference (MC14), to be held in 2026, and to contribute to the achievement of concrete outcomes”. The Declaration also contained an explicit statement of support for Ethiopia’s bid for accession to the WTO.
In the financial sphere, article 40 of the Declaration “underscored the importance of the enhanced use of local currencies in trade and financial settlements between BRICS countries and their trade partners”, with further references to the Kazan summit Declaration on the need to consider new payment instruments and platforms, “including by studying the feasibility of BRICS Cross-Border payments initiative, BRICS Clear and of reinforcing the BRICS reinsurance capacity”. With respect to the New Development Bank (NDB), BRICS supported “further expansion of the NDB membership and early consideration of applications of BRICS Member countries”.
A significant part of the Declaration is dedicated to the issues of financing sustainable development. Within the Declaration all BRICS member states “reaffirmed their commitment to the Paris Agreement, as well as to reinforcing the United Nations Framework Convention on Climate Change (UNFCCC) as the primary and legitimate international platform for addressing climate change in all its dimensions”[3]. The Declaration also pointed to the need for developed economies to “fulfill their obligations under the Convention and make progress in implementing the decision on the new quantified collective goal for climate finance is also included in the document”[4]. In Article 43 of the Declaration, BRICS economies welcomed the establishment of the BRICS Partnership on Land Restoration and the Global Alliance against Hunger and Poverty, while in article 56 they reiterated their commitment in implementing United Nations Convention to Combat Desertification (UNCCD).
The Declaration also supported progress towards greater institutionalization of BRICS and the expansion of the bloc’s cooperation with the wider Global South – in particular article 61 of the Declaration states that “the Ministers reaffirmed their commitment to strengthening BRICS through continued discussions on the group’s institutional development… Given the recent expansion of the group, they recognized the importance of tapping the potential of BRICS cooperation through institutional development”. While fundamentally the Declaration expressed support for BRICS expanded cooperation with the Global South, in terms of the widening of the ranks of the bloc’s core BRICS representatives noted that further expansion in the near term was likely to be on hold given the needs of integrating the new members of the bloc[5].
Going forward, the focus will soon shift to the BRICS summit on July 6-7 in Rio de Janeiro. Trade may be expected to dominate the summit’s agenda, but at this stage we are not too optimistic on any wide-ranging undertakings by BRICS as a group in mustering a common response to higher tariffs via South-South trade liberalization. We expect incremental progress in the development of financial mechanisms in conducting payments in national currencies as well as more efforts from Brazil’s Presidency in BRICS to advance the reform and the reinforcement of the BRICS CRA mechanism.
Please see the link to the Declaration of the BRICS Presidency here:
https://brics.br/en/documents/2025-04-29_bricsmfa-chairs-statement.pdf
[1] https://brics.br/en/news/brics-presidency-declaration-reinforces-groups-commitment-to-climate-action-energy-transition-and-reform-of-global-governance-institutions
[2] https://ria.ru/20250429/briks-2014110729.html
[3] https://brics.br/en/news/brics-presidency-declaration-reinforces-groups-commitment-to-climate-action-energy-transition-and-reform-of-global-governance-institutions
[4] https://brics.br/en/news/brics-presidency-declaration-reinforces-groups-commitment-to-climate-action-energy-transition-and-reform-of-global-governance-institutions
[5] https://rg.ru/2025/04/29/sergej-lavrov-podvel-itogi-zasedaniia-glav-mid-briks.html
Yaroslav Lissovolik, Founder, BRICS+ Analytics
Image by Isabela Castilho/BRICS Brasil