BRICS Business Forum: new horizons and opportunities for the Global South

Opening panel emphasized multilateralism and economic integration among emerging countries.

On July 5, 2025, Rio de Janeiro became the epicenter of a global transformation. As a side event to the BRICS Summit, the BRICS Business Forum gathered business leaders, government authorities, experts from member countries, international delegations, guests and a large audience. With a record attendance of 2,500 participants from 68 countries, the event made it clear that the bloc is now a central pillar of the global economy.

Now with 11 member countries, BRICS+ represents impressive figures: 40% of global GDP, 48% of the world’s population and 21.6% of international trade.

In this context, trade between Brazil and BRICS countries reached US$210 billion in 2024, accounting for 35% of Brazil’s trade balance. According to official data from ComexStat and the Central Bank, Brazil exported US$121 billion to BRICS in 2024 (36% of total exports) and imported US$88 billion (34% of total imports).

The opening ceremony of the BRICS Business Forum was attended by President Lula, Vice President Geraldo Alckmin, CNI President Ricardo Alban and Malaysian Prime Minister Anwar Ibrahim. They outlined the priorities and transformative potential of BRICS+, emphasizing a tone of collaboration, innovation and the pursuit of a more equitable future.

Watch the full opening ceremony or read the highlights below.

CNI: strengthening industry and public-private dialogue

Ricardo Alban, president of the National Confederation of Industry (CNI), opened the panel by highlighting the participation of BRICS countries in Brazil’s trade and the strategic role of the productive sector in the bloc’s agenda. “We, in the industry, firmly believe in BRICS’ potential as a catalyst for growth and innovation”, he said.

Alban emphasized the contributions of institutions like SESI (Social Service for Industry), SENAI (National Service for Industrial Training) and IEL (Euvaldo Lodi Institute), underscoring their role in professional education, technological innovation and global competitiveness.

He advocated for a continuous dialogue between the public and private sectors as a way to strengthen cooperation among BRICS+ countries and boost intra-bloc trade and investment.

Alckmin: innovation, trade and energy sustainability

Brazilian Vice President and Minister of Development, Industry, Trade and Services, Geraldo Alckmin, highlighted BRICS’ growing relevance as a geopolitical actor in the global economy. According to him, the BRICS Business Forum is a strategic opportunity to attract reciprocal investments, strengthen foreign trade and promote joint innovation among member countries.

“Brazil is proud of its leadership in food security and clean energy. We are committed to a sustainable future, and BRICS is a key partner in this journey”, he stated.

Alckmin underscored Brazil’s leadership on global agendas, especially in food security — recalling that Brazil is currently the world’s largest food exporter, with a projected record harvest in 2025.

On the environmental front, he reinforced Brazil’s commitment to a clean energy matrix, 85% of which comes from renewable sources, and its emerging role in sustainable aviation fuel production — a strategic sector for the global energy transition.

He also stressed efforts to combat climate change, citing the reversal of deforestation trends and the goal of zero illegal deforestation. Finally, he highlighted the upcoming COP30 in Belém, positioning Brazil as a global reference in discussions on bioeconomy, climate justice and sustainable development.

Lula: multilateralism and a new development model

President Lula began his speech by thanking business leaders and emphasizing the role of the private sector: “While presidents open doors, it is entrepreneurs who drive business forward.”

He then pointed out that BRICS, now with 11 full members, already accounts for over 40% of global GDP in purchasing power parity, and argued that the bloc should lead governance reform.

“In the face of rising protectionism, it is up to emerging nations to defend the multilateral trade regime and reform the international financial architecture. BRICS remains a guarantor of a promising future. Fighting inequality strengthens consumer markets, drives trade and boosts investment,” he declared.

The president noted that trade between Brazil and BRICS (US$210 billion in 2024) is more than double that with the European Union. He proposed a new development model based on sustainable agriculture, green industry, resilient infrastructure and bioeconomy — sectors in which the bloc holds strategic advantages, with 33% of the world’s arable land and 42% of global agricultural output.

Lula also called for a global governance framework for artificial intelligence, one that prevents the dominance of major corporations in technological development. He reinforced the urgency of decarbonization, highlighting BRICS’ role as a major investor in renewable energy and holder of strategic minerals for the energy transition.

He praised the NDB (New Development Bank) for financing sustainable projects and encouraging the use of local currencies to reduce transaction costs. Lula concluded by underscoring the importance of the BRICS Women’s Business Alliance in promoting female entrepreneurship and reaffirmed the need for inclusion and peace as pillars of development.

Anwar Ibrahim: BRICS can change the course of human history

Malaysian Prime Minister Anwar Ibrahim described the BRICS Business Forum as a “historic moment” for emerging economies and countries. For him, the meeting marked the beginning of a new cycle, where the voices of those striving for freedom, justice, and dignity are finally heard in global decision-making.

“BRICS will be highly significant and will alter the course of human history”, he asserted, advocating for a bloc united by principles rather than mere economic interests.

Ibrahim praised President Lula’s leadership and commitment to the Global South and highlighted the “spectacular” participation of the private sector, which strengthens the bloc’s practical foundation alongside political leadership.

A strong supporter of balanced multilateralism, he urged Global South countries to act with cohesion and a unified voice — not in opposition to the North, but as equal partners. He also called for democratic reforms in institutions such as the UN, WTO, IMF, and World Bank, along with initiatives like using local currencies in BRICS trade.

According to Ibrahim, this shift demands courage, solidarity and coordination among nations that have historically been excluded, but are now poised to lead a new global order grounded in justice.

The road ahead for BRICS

BRICS 2025 marked a decisive moment in repositioning the bloc within global geopolitics. Both the Summit and the Business Forum clearly demonstrated BRICS’ role as a transformative force. Above all, leaders conveyed a common message: the Global South’s growth depends on strategic collaboration between state and market.

With concrete proposals, unprecedented consensus, and strong coordination between government and the productive sector, the event signaled a new phase of cooperation focused on sustainable growth, social justice, and reshaping international power structures.

Brazil played an active role in this process, contributing decisively to key agendas such as the green transition, the strengthening of multilateralism, and the integrated development of the Global South.

The event not only solidified BRICS’ collective leadership but also reaffirmed the bloc’s importance as a legitimate voice for emerging economies and a cornerstone of a more balanced, just and representative future.

About the forum

The BRICS Business Forum is a platform for advancing cooperation in response to global challenges, bringing member countries together to promote innovation, sustainability, and economic inclusion. Organized by the National Confederation of Industry (CNI) and the BRICS Business Council (CEBRICS), the event highlighted the private sector’s growing leadership role in the bloc.

The forum was supported by sponsors XCMG, DP World, Keeta, WEG, Embraer, Vale, Febraban, Mebo International, Marfrig/BRF, SENAI, SESI, and IEL, and by institutional partners including the National Council of SESI, the Brazilian Cooperative Organization (OCB), Natura, SEBRAE, ApexBrasil, and the Federation of Industries of Rio de Janeiro (Firjan).

Coming soon

This is the first article in a series that will summarize key debates from the BRICS Business Forum. Upcoming articles will explore the following topics in more depth:

• Digital economy and artificial intelligence
• Clean energy and bioeconomy
• Infrastructure and logistics connectivity
• Regenerative agribusiness
• Local currencies and financing mechanisms

Stay tuned for highlights from each panel, right here on our website.