Lula Heralds BRICS Expansion As Proof of its Pertinence

At the end of the XV BRICS Summit (#BRICS2023) in Johannesburg, Brazilian President Luiz Inacio Lula DA SILVA asserted that the high-level of interest and expansion of the emerging economies is a demonstration of relevance in the new world order.

The newly invited six countries to join BRICS are: Argentina, Egypt, Ethiopia, Iran, Saudi Arabia, United Arab Emirates. President Lula went on to clarify that new members were picked based on their ‘geopolitical weight’ rather than purely on economic or political terms. Actually, Brazil also supports the inclusion of Angola, Democratic Republic of Congo, Mozambique and Nigeria to join the #BRICS+.

The successful expansion of the BRICS clearly demonstrates its relevance as a new pole in the new multipolar world. As an important next step, Lula expects a meeting between G7 and BRICS+.

Prior to the Summit, Lula has been a vocal supporter of #dedollarization, declaring publicly on several occasions that he does not understand why countries should use USD to trade among themselves.

“The creation of a currency for trade and investment transactions among BRICS members increases our payment options and reduces our vulnerabilities.”

Brazilian President Luiz Inacio Lula da Silva

He called for reforms at the World Bank and Interntional Monetary Fund. He believes the New Development Bank (NDB) of the #BRICS will provide more financing options suited to the needs of the #GlobalSouth.

In his keynote address, he pushed for a fairer and more inclusive multipolar world under construction. As sign of the new world order emerging, nobody remembers the WTO Development Round anymore.