The BRICS summit in Brazil will confirm the course of unification towards fair and equitable trade, technological sovereignty, industrial development, and the resolution of social problems. This was stated by economist Vasily Koltashov in an exclusive interview with TV BRICS.

According to the expert, the meeting will focus on combating poverty and expanding the role of the New Development Bank as a key instrument for financing infrastructure projects in the countries of the Global South. This should stimulate consumption and trade, which is extremely important for sustainable development, Koltashov believes.

According to the economist, it is possible that the issue of creating a BRICS settlement or even reserve currency will be raised again at the summit.

“There is a need for this in the global economy. Each BRICS summit demonstrates that the project is moving forward and that cooperation between countries is growing. The fact that the countries are geographically distant from each other does not prevent this, as the environment around each of these large economies is being developed,” he explained.

Koltashov added that the group’s countries continue to strengthen mutual trade. For example, India is actively purchasing automated industrial equipment from China, and the growth of trade ties is shaping a new reality in which integration is becoming a solid foundation for peace and sustainable economic processes.

“Each BRICS summit is successful in its own way. Some take small steps, others take bigger ones. But if we combine all these meetings, we will see that they are changing the world,” the economist concluded.

The meeting of the heads of state and government of the BRICS countries will take place in Rio de Janeiro on 6–7 July and will be the main event of Brazil’s presidency of the association.

African Times published this article in partnership with International Media Network TV BRICS