BRICS: What Each Country is Likely to Do at the 2023 Summit

Joshua Ramos
BRICS New Development Bank Now Offers Loans in Local Currencies Instead of US Dollar
Source: Bitcoin.com

The BRICS Summit is set to take place this week, and every country has brought its own needs and interests to the event. Subsequently, the Center for Strategic and International Studies (CSIS) experts have broken down the BRICS group, and what every country is likely to do at the 2023 summit.

The bloc is set to debate vital matters such as expansion and local currency usage. Moreover, the alliance is set to carefully vote over these matters that could alter the trajectory of its development. Moreover, some of the bloc members have already affirmed their positions on several of the most important matters.

Also Read: World Leaders Head to South Africa to Attend BRICS Summit

Brazil

Source: Reuters

As the bloc approaches the summit, Brazil is poised to re-establish itself as a world power. Moreover, the country is set to continue its call for global de-dollarization. Subsequently, they are hoping for the bloc to continue to establish economic policies that lessen US dependence.

“Lula has been on a diplomatic world tour, where in every stop in the global south, he seems to mention his desire to move away from dollar dominance and move into doing trade in order currencies,” CSIS’ Americas expert Ryan Berg stated.

Additionally, Berg noted that Brazil is also likely to stand in mediation for the ongoing Russia-Ukraine conflict. Furthermore, Brazil is also expected to lobby heavily for a BRICS alternative currency and the expansion of the bloc.

Russia

brics summit vladimir putin russia president
Source: Reuters

Among the gathering countries, Russia is in a much different situation. Because of the ongoing ICC warrant, Russian Foreign Minister Sergey Lavrov is attending in place of President Vladimir Putin. However, Putin will still attend the summit virtually.

Moreover, CSIS Russia and Eurasia expert Maria Snegovaya has stated that the country is expected to support expansion. Specifically, in hopes of continuing to lessen Western influence within the global south.

Additionally, Snegovaya noted the summit as a “propaganda effort,” for Russia. Amid the Ukraine conflict, Lavrov is expected to lobby for continued support for the bloc. Moreover, the country will seek a boost in South African trade through greater investment in the country.

India

Source: East Asia Forum

Also Read: China And India Release Statement on Ongoing Tension Ahead of BRICS Summit

On the other hand, India’s position among the BRICS countries is a little more concerning for the bloc as a whole. Specifically, CSIS India expert Katherine Hadda has stated the country will likely use the summit to stand against China’s proposals. Mostly in fear of the bloc becoming overly reliant on Chinese influence.

“India’s going to be very unlikely to support any key proposal that’s going to be too uncomfortable for the United States or our allies,” Hadda stated. Additionally, she noted that the country is expected to be “lukewarm” on currency development for the bloc.

When it comes to expansion, India is “cautious” about the idea. Again, because of its tensions with China, it is certainly weary of what expansion could mean for the country’s influence. Conversely, its impressive economic growth rate has given the country an upper hand in any negotiations that could take place.

China

BRICS China Xi Jinping
Source: chinaobservers.eu

Also Read: China Supports BRICS Expansion, Welcomes Like-Minded Countries

As the BRICS summit nears, and with every country seeking its motives, China is certainly aiming to expand its influence. Specifically, the country is observing the summit as a chance to embrace Western competition. This begins with the expansion proposal, that China is overwhelmingly in favor of.

CSIS Brian Hart says that China views expansion as a chance to “give China more of an opportunity to project its power and influence in key regions.” Additionally, it is likely to attempt to urge its BRICS compatriots to also embrace the Western opposition.

The country sees the growth of the bloc as a chance to push back against the US. However, other BRICS countries have consistently noted that it does not seek Western competition. A dynamic that will certainly be important to observe as the summit continues.

South Africa

Cyril Ramaphosa, South Africa’s president, during the South Africa Investment Conference in Johannesburg, South Africa, on Thursday, April 13, 2023.

Finally, South Africa is the host of this year’s annual summit, which is very important when considering motives. Specifically, CSIS Phezo Dizolele notes that the country seeks to assure itself as “the leader of the African bloc on the international stage” through the summit.

Additionally, its stance, or lack thereof, on the Russia-Ukraine conflict will also come into play. Specifically, the conflict is poised to be a major talking point for countries visiting the summit.

Overall, with the BRICS summit and what every country is likely to do, South Africa is in a positive situation. The entire event will be used in a promotional way to ensure positive perceptions of the country and its influence.