New Delhi [India], September 11 (ANI): Hailing how BRICS is a platform for consolidating and connecting some of the world’s most dynamic and prosperous economies, Brazil’s Minister of Foreign Affairs Mauro Vieira said on Friday that the role of the platform has become even more crucial when the world is threatened by ‘protectionism, economic coercion and unilateral sanctions’.
“With its recent expansion, BRICS has consolidated itself as a platform for connecting some of the world's most dynamic and prosperous economies. At a time when the global economy is threatened by protectionism, economic coercion and unilateral sanctions, bringing our productive sectors closer together is more relevant than ever," the Brazilian FM said while addressing the Leaders' Session of BRICS Business Forum in New Delhi.
BRICS brings together eleven major emerging markets and developing countries of the world. Originally consisting of Brazil, Russia, India, China, and South Africa (in 2010), it was also agreed to include Egypt, Ethiopia, Iran, Saudi Arabia and UAE, who became full members in January 2025. Similarly, Belarus, Bolivia, Kazakhstan, Cuba, Malaysia, Nigeria, Thailand, Uganda, Uzbekistan and Vietnam also joined BRICS as Partner Countries in 2025.
Talking about the threat to global economic order, he highlighted how BRICS has brought together such influential economies, with member countries seeing a growth in contributing to the world’s GDP from 20% to more than 50%.
“BRICS members today account for 40% of the world's economic output,” the Brazilian FM said.
“We meet today amid profound transformations in the global landscape underpinned by decades of consistent growth within the Global South. From the 1960s to our days, low and middle-income countries' share of the world's GDP rose from 20% to more than 50%,” he added.
Talking about “economic coercion”, the Brazilian minister highlighted that “At a time when the global economy is threatened by protectionism, economic coercion and unilateral sanctions, bringing our productive sectors closer together is more relevant than ever."
The comments by the minister come amidst the United States showing that it is willing to impose tariffs on long time partners too, including Canada.
The United States, on Wednesday had announced a fresh round of trade measures against Canada, banning several categories of imports and reshuffling existing tariffs after Ottawa imposed its own retaliatory tariffs on American goods.
Meanwhile, trade between BRICS member states has grown significantly during last five years. According to Industry body ASSOCHAM, trade has grown from USD 203 billion in 2020-21 to USD 417 billion in 2025-26.
India shipped merchandise valued at USD 96 billion to partner countries within the bloc during 2025-26. The chamber assessed that outbound shipments could reach USD 200 billion by 2030 through enhanced south-south cooperation, providing domestic suppliers an avenue to diversify export destinations beyond traditional buyers. (ANI)
“Connecting world’s most prosperous economies”: Brazilian FM Mauro Vieira hails BRICS’ role in era of ‘economic coercion, unilateral sanctions’
