Rio De Janeiro, 07 July 2025

Leaders of the 11 largest emerging economies signed the Joint Declaration of the 17th BRICS Summit, titled 'Strengthening Global South Cooperation for More Inclusive and Sustainable Governance'.  The declaration affirms commitments to multilateralism, international law, and a more equitable global order, following over 200 meetings and new cooperation mechanisms in areas such as hunger eradication, climate change, and emerging technologies.

The leaders pledged to uphold the BRICS spirit of mutual respect, solidarity, inclusion, and consensus, advancing cooperation across politics and security, economy and finance, and cultural exchange.

The document calls for greater participation of developing countries—particularly in Africa, Latin America, and the Caribbean—in global decision-making. It recognizes multipolarity as an opportunity for developing countries and emerging markets to drive inclusive, equitable globalization, address geopolitical tensions and economic challenges, and promote the Global South as a force for positive change.

Chinese Premier Li Qiang in his address urged BRICS countries to be the vanguard of global governance reform at the 17th BRICS Summit’s plenary session on “Peace and Security and Reform of Global Governance,” chaired by Brazilian President Luiz Inacio Lula da Silva.

Li said accelerating global changes, weakening multilateral institutions, and growing conflicts demand BRICS promote extensive consultation, joint contribution, and shared benefits, in line with President Xi Jinping’s vision for global governance. He called for equality, mutual respect, and openness to achieve mutual success and address shared interests.

As the leading force of the Global South, BRICS should uphold independence, demonstrate responsibility, and work to build consensus. Li emphasized moral principles and justice in resolving issues, boosting economic drivers, and advancing cooperation in emerging sectors. He announced China will establish a BRICS research center and scholarship program to support talent development.

Li also urged fostering inclusiveness and mutual learning among civilizations to promote harmonious coexistence. BRICS leaders highlighted the bloc’s growing global influence, role in defending development rights, and importance in strengthening multilateralism to improve global governance and achieve lasting peace and prosperity.

Russian Foreign Minister Sergey Lavrov said Sunday at the BRICS Summit in Rio de Janeiro that the bloc aims to build ‘a more stable global economic architecture’ rooted in equality, multilateralism, and non-discrimination.

He noted growing influence of groups like the African Union, CELAC, ASEAN, SCO, and EAEU, calling multipolarity an ‘objective reality’ replacing outdated neoliberal, neocolonial models. Lavrov criticized reliance on the US dollar, citing rising debt in developing and even developed countries, and said BRICS represents over 40% of global GDP (45% with partners) and nearly half the world’s population. He rejected IMF and World Bank “neocolonial practices’.

A 126 points declaration was issued on concluding Tw0-day Summit held in Rio De Janeiro, Brazil from 6-7 July 2025.