RIO DE JANEIRO, August 22. /TASS/. The BRICS grouping encompassing Brazil, Russia, India, China and South Africa has no intention of rivaling the G7, the G20 or other international venues, Brazilian leader Luis Inacio Lula da Silva said on Tuesday.

"We are not seeking to position ourselves against the G7, the G20 or the United States. We simply want to self-organize," he said in a weekly interview posted on his social media. The idea is to establish an effective new bloc where developing nations can cooperate equally, rather than one that rivals developed or wealthy countries. "We would like to establish the Global South, something that has never existed before," the Brazilian president explained.

According to Lula, the developed world has always looked down on the developing economies "as if we were inferior people." "And suddenly we realize that we can be important," he said, pointing to the Global South’s role in the fight against climate change and mining for natural resources in demand among modern industries.

"We are seeking to create new mechanisms for the world to become a more equal place," the politician maintained, as he noted the need to reform global governance institutions and increase the rights of the United Nations Security Council permanent members. "BRICS is not about taking anything from anyone, and that’s a major advantage <...> that would make discussions more balanced," he concluded.

The BRICS group is holding its annual summit in Johannesburg, South Africa, on August 22-24. The meeting will bring together the heads of state and government of the Global South for the largest gathering in the past few years. As many as 54 African leaders have been invited to participate. Russian President Vladimir Putin will take part in the event via video link, while Russian Foreign Minister Sergey Lavrov is onsite leading the Russian delegation in person. The Kremlin press service said concluding agreements would be formulated in the Johannesburg declaration of the 15th BRICS summit.