BRICS has no plan to create an alternate currency, says Brazil’s Ambassador to India

What are your hopes for existent outcomes from this summit?

We are envisaging a BRICS which volition present immoderate results, among them, a dedicated declaration connected clime alteration financing, financing and regularisation of artificial intelligence, and a concern connected socially-determined diseases, diseases which we subordinate with states of poverty. Apart from the archetypal session, each sessions of the Rio BRICS acme volition beryllium unfastened to the spouse countries and to invited countries. This is an effort astatine transparency and inclusivity successful the level to sermon the large challenges of humanity. A telling motion is that 30-plus countries person expressed an involvement successful joining BRICS. This says a lot.

U.S. President Donald Trump has threatened 100-500% tariffs against BRICS if it moves towards de-dollarisation. How earnestly bash you instrumentality the U.S. statements against BRICS?

If you person declarations of an important state similar the United States, it is taken seriously. But to talk of a BRICS currency... that is thing that does not exist, and we are not envisioning creating a BRICS currency successful the foreseeable future. What we are envisaging is stimulating businesses of BRICS countries to follow section currencies arsenic an enactment for conducting trade. This volition beryllium connected a voluntary basis, and it’s thing caller — wrong MERCOSUR, which is the South American integration process, we person had the anticipation of utilizing local-currency trades for much than 25 years. So this is conscionable 1 much option, not a determination against the dollar.

This is the archetypal BRICS acme since the Pahalgam panic attack. How volition BRICS code the contented of terrorism?

I tin archer you that the Foreign Minister’s gathering of BRICS (on April 28-29), which did not nutrient a associated connection but had a Chair’s summary, included a paragraph connected the Pahalgam attack. So we are rather assured that the Leaders’ Statement astatine BRICS would besides incorporate a robust paragraph condemning terrorism.

Has the enlargement of BRICS led to much tensions wrong the grouping? There is inactive nary clarity connected the rank of Saudi Arabia. Is BRICS losing its cohesiveness?

In the past, adjacent erstwhile BRICS was composed of lone 5 members, it ever focused connected what unites specified divers countries, not connected divisions. The 5 archetypal members — Brazil, Russia, India, China, South Africa — were already divers countries, and the absorption was not connected what we cannot bash together, but what we tin bash together. By accepting caller members, BRICS has shown its diverseness and consensus-building ability. And it is this quality that led to notable results similar the constitution of the New Development Bank.

Given the absorption connected the Global South successful BRICS, bash you spot the Rio Summit pitching itself arsenic a challenger to the much established G-7 grouping?

Brazil has ne'er seen BRICS arsenic a situation to G-7, oregon arsenic immoderate benignant of bloc against G-7. BRICS is simply a radical that comes unneurotic to beforehand our converging interests.  If you look astatine each BRICS statements, you would not beryllium capable to place immoderate connection that could beryllium considered anti-West. We person our interests, and those aren’t against immoderate radical of countries.

What are the main outcomes expected from Prime Minister Modi’s sojourn to Brasilia, and a gathering with President Luiz Inacio Lula da Silva, which volition travel the BRICS summit?

The authorities sojourn volition instrumentality spot against a backdrop of booming concern and engagement betwixt our 2 countries. Just to springiness you a figure, successful little than 2 years, we person had 110 missions (trade and bilateral) successful some directions, betwixt India and Brazil. These missions were fundamentally focused connected 4 areas: defence, agriculture, vigor and the pharmaceutical industry. We person seen an intensification of contacts betwixt authorities and authorities connected integer partnerships and artificial intelligence. We present person abstraction present to instrumentality banal and facilitate concern successful a fig of areas.  Oil is simply a lawsuit successful point. Brazilian institution Petrobras has world-class exertion successful deep-sea drilling and it wants to cooperate with Indian companies. Defence practice is astatine a turning point, truthful is cultivation research, and we volition person an statement connected practice there.