The summit of the leaders of BRICS countries (Brazil, Russia, India, China, and South Africa) was recently held with the goal of reducing the economic influence of the United States and strengthening trade and economic cooperation among their countries. This summit takes place as many developing countries seek to enhance their position on the global stage.
Increasing the Economic Capacities of BRICS Countries
At this conference, the leaders of BRICS countries emphasized the importance of increasing their economic capacities. According to statistics, BRICS countries collectively account for about 26 percent of global GDP, and this figure is gradually increasing. The leaders of these countries are seeking to create a financial system independent of the US dollar that can help strengthen trade among members.
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Future Goals and Plans
At this summit, BRICS countries also examined cooperation strategies in the fields of energy, technology, and economic infrastructure. According to reports, these countries intend to establish a joint bank in the near future aimed at financing infrastructure projects in developing countries. The capacities of the oil and gas fields of these countries were also discussed at this summit.
BRICS countries are looking to reduce their dependence on the dollar and create new payment systems that could benefit international trade and strengthen their national economies. This new approach aligns with the efforts of member countries to increase their share in global trade and reduce the influence of major economic powers like the United States.
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