BRICS: President Lula’s speech at the 2nd session – Strengthening Multilateralism, Economic-Financial Affairs, and Artificial Intelligence

The 17th Summit in Rio de Janeiro marks a milestone in the historic expansion of BRICS.

This is the first time that the Heads of State and Government of partner countries are formally taking part.

The invited countries bring perspectives from diverse regional contexts, enriching the creation of a vision for the Global South.

We are in the same city and at the same venue that hosted the G20 Summit last year.

A significant portion of the success we achieved then came from the constructive contribution of the BRICS.

In a short period, the international landscape has deteriorated to such an extent that some of the initiatives we approved back then would no longer be possible today.

The South African presidency of the G20 has our full support.

BRICS is an indispensable actor in the struggle for a multipolar, less asymmetrical, and more peaceful world.

In this session, we will address economic and financial governance and the need for a framework for Artificial Intelligence.

It has been 10 years since the Addis Ababa Conference on Financing for Development and the adoption of the Sustainable Development Goals.

At the Seville Conference, which wrapped up last week, it became clear that the 2030 Agenda hasn't received sufficient funding.

The frameworks of the World Bank and the IMF currently support a "reverse Marshall Plan," where emerging and developing economies essentially finance the more developed world.

International aid flows have decreased, and debt costs for the poorest countries have soared. The neoliberal model only deepens inequalities.

For instance, three thousand billionaires have collectively earned USD 6.5 trillion since 2015.

Tax justice and the fight against tax evasion are essential to truly consolidate inclusive and sustainable growth strategies fit for the 21st century.

The BRICS Declaration supporting the negotiation of a "UN Framework Convention on International Tax Cooperation" is a milestone.

Through the "IMF Reform Vision," we will engage more countries in the 17th General Review of the Fund's Quotas.

Brazil supports an inclusive quota realignment process, featuring a simple, balanced, and transparent calculation formula.

Even under the current terms, the distortions are undeniable.

To truly reflect our economic weight, the voting power of BRICS members at the IMF should correspond to at least 25%—not the 18% we currently hold.

Where post-war arrangements consistently fall short, the New Development Bank sets an example of effective governance.

The accession of Algeria, alongside the ongoing membership processes for Colombia, Uzbekistan, Peru, and all others announced by Fellow Dilma Rousseff, attests to the Bank's capacity to provide financing for a just and sovereign transition.

While unilateralism creates barriers to trade, our bloc works toward faster, cheaper, and safer cross-border payment systems.

This will intensify our flow of trade and services.

Reforming the World Trade Organization is another essential and urgent area of action.

Its paralysis and the resurgence of protectionism create an unsustainable, asymmetrical situation for developing countries.

Restoring confidence in the WTO will not be possible without promoting a fair balance of obligations and rights that adequately reflects the interests of all its members.

We need to unblock agricultural negotiations and establish a new pact on trade and climate that distinguishes legitimate environmental policies from disguised protectionism.

New challenges demand an understanding of industrial policy that does not restrict state action in favor of development.

The promotion of inclusive, balanced, and sustainable production chains must remain at the center of our common agenda.

Conducting a feasibility study for establishing submarine cables directly connecting BRICS members will increase the speed, security, and sovereignty of our  data exchange.

By adopting the Declaration on Artificial Intelligence Governance, BRICS sends a clear and unequivocal message:

New technologies must operate within a governance model that is fair, inclusive, and equitable.

The development of Artificial Intelligence must not become the privilege of a few countries or a tool of manipulation in the hands of billionaires.

Progress is also not possible without the participation of the private sector and civil society organizations.

The leadership of the Business Council and the Women’s Business Alliance in organizing the business meeting that gathered over a thousand people on Saturday demonstrates the strength of our private sectors.

The first meeting of the newly created Civil Council and the other meetings of the BRICS social pillar confirm our progress in the integration of our societies.

Bringing this social dimension into the work carried out by governments keeps BRICS aligned with the aspirations of our societies.

Thank you very much.