Brazil strengthens cooperation in BRICS amid new US duties

Brazil intends to strengthen the role of BRICS in response to the US imposition of customs duties on a number of goods. The country's agriculture minister, Carlos Favaru, said at a conference in Brasilia that Washington's protectionist measures are pushing the country to strengthen the alliance and search for new trade opportunities. 

Favaru also noted that the members of the bloc consider it important to expand mutual trade in agricultural products, and Washington's measures will not weaken ties in the agricultural sector. In his opinion, Brazil is ready to occupy a niche in the international meat market, which was vacated after the cessation of American supplies.

In 2024, the Brazilian Ministry of Agriculture plans to appoint an attache for agriculture in the BRICS countries in order to strengthen cooperation. At the BRICS summit in Kazan, Russian President Vladimir Putin proposed the creation of a grain exchange within the framework of the bloc. This, in his opinion, will make it possible to establish fair and stable price targets for products and raw materials, which will strengthen economic cooperation between the countries.