BUENOS AIRES, October 15. /TASS/. Brazil advocates for increasing the use of national currencies of BRICS member states in global trade, and using the dollar less, the country’s Foreign Affairs Secretary for Asia and the Pacific Eduardo Paes Saboia said.

"[The issue of reducing the reliance on the US dollar] has already been considered at meetings of finance ministers and heads of central banks [of BRICS]," he told reporters. "I hope that those discussions will be reflected in a certain way in the declaration in Kazan [based on results of the BRICS summit on October 22-24]. They will obviously continue during Brazil’s chairmanship [in BRICS in 2025]," the diplomat said. The country will continue negotiating a further increase in the share of national currencies in trade with members of the integration, he added.

Russian Foreign Minister Sergey Lavrov said in September that a report on options for creating alternative payment platforms for settlements between BRICS member countries would be prepared for the summit of the association in Kazan. President of BRICS New Development Bank Dilma Rousseff also said in October that the financial organization intended to use national currencies for investing in the private sector of the economies of member states.

The BRICS group was created in 2006 by Brazil, Russia, India and China, while South Africa joined it in 2011. On January 1, 2024, Egypt, Iran, the UAE, Saudi Arabia and Ethiopia became its full members. This year, the Russian Federation is chairing the association, with over 200 various events planned. The BRICS summit in Kazan is going to become the association’s main event during Russia’s chairmanship.