BRICS supports UN-centred tax cooperation

Leaders sought more meaningful representation for Africa, Asia and Latin America in international decisions, including UN Security Council reform.

The declaration welcomed local-currency settlements and a voluntary, non-binding payments initiative. It did not launch a common BRICS currency.

Leaders called for a feasibility study of cross-border settlement and depositary infrastructure. A study proposal was not an operational system.

Leaders encouraged the development bank to expand local-currency financing and mobilize resources for infrastructure and sustainability.

The declaration welcomed a Russian initiative for a grain exchange to support agricultural trade and food security. The exchange was a proposal.

The declaration called for an immediate ceasefire, humanitarian access and support for Palestinian statehood while noting South Africa’s case before the International Court of Justice.

The BRICS Plus session brought other Global South leaders into dialogue on peace, development and more representative governance. Attendance was distinct from full membership.

Brazil began its annual chairship with priorities of global governance reform and cooperation among countries of the Global South.

Belarus, Bolivia, Kazakhstan, Cuba, Malaysia, Thailand, Uganda and Uzbekistan took part in the new partner category. This status was separate from full membership.

Brazil’s chairship announced Indonesia’s formal entry, bringing Southeast Asia into the full membership after earlier expansion discussions.