Speech by Luiz Inácio Lula da Silva, President of Brazil, during the open plenary session of the BRICS Summit

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October 23, 2024

Transcript of President Lula’s speech during the open plenary session of the BRICS Summit

Despite not being in person in Kazan, I’d like to acknowledge how pleased I am to be addressing my BRICS brothers and sisters.

I would like to thank the group members for the support they have extended to the Brazilian presidency of the G20.

Your support has been crucial to advance essential initiatives for reducing inequalities, such as taxing the super-rich.

In recent decades, our countries have implemented successful social policies that can serve as an example for the rest of the world.

The Global Alliance against Hunger and Poverty is already in an advanced stage of membership.

I invite everyone to join the initiative, which was born at the G20, but is open to other participants.

BRICS is an essential player in tackling climate change.

There is no doubt that the greatest responsibility lies with rich countries, whose emissions record has culminated in the climate crisis that afflicts us today.

It is necessary to go beyond the 100 billion promised annually and not fulfilled, and strengthen measures to monitor the commitments made.

Scientific data expresses an unprecedented sense of urgency.

The planet is one and its future depends on collective action.

It is also up to emerging countries to do their part to limit the rise in global temperature to one and a half degrees.

At COP 30, in Belém, together we will show that it is possible to reconcile greater ambition in our Nationally Determined Contributions with the principle of common but differentiated responsibilities.

In the Brazilian BRICS presidency, we want to reaffirm the bloc’s vocation in the fight for a multi-polar world, and for less asymmetrical relations between countries.

We cannot accept the imposition of “apartheids” in access to vaccines and medicines, as occurred during the pandemic, nor in the development of Artificial Intelligence, which is on its way to becoming a privilege for the few.

We need to strengthen our technological capabilities and encourage the adoption of non-exclusive multilateral frameworks, in which the voice of governments prevails over private interests.

BRICS has been responsible for a significant portion of global economic growth in recent decades.

Together, we are over 3.6 billion people, who are part of dynamic markets with high social mobility.

We represent 36% of global GDP by purchasing power parity.

We have 72% of the planet’s rare earths, 75% of the manganese and 50% of the graphite.

However, financial flows continue to flow to rich nations.

It’s a Marshall Plan in reverse, in which emerging and developing economies finance the developed world.

BRICS initiatives and institutions break with this logic.

Business Council actions have contributed to expanding trade between us.

Brazilian exports to BRICS countries grew twelvefold between 2003 and 2023.

BRICS is currently the origin of almost a third of Brazil’s imports.

The Women’s Business Alliance is creating networks to foster women’s economic empowerment and combat persistent gender inequalities.

Through the Interbank Cooperation Mechanism, our national development banks will establish credit lines in local currencies, which will reduce transaction costs for small and medium-sized enterprises.

The New Development Bank (NDB), which is celebrating its tenth anniversary this year, has invested in the infrastructure needed to strengthen our economies and promote a just and sovereign transition.

Under the leadership of sister Dilma Rousseff, the NDB currently has a portfolio of almost 100 projects, financing in the order of 33 billion dollars.

It was designed to succeed where the Bretton Woods institutions continue to fail.

Rather than offering programmes that impose conditionalities, the NDB finances projects aligned with national priorities.

Rather than furthering disparities, its governance is based on equal voting.

Now is the time to move forward with creating alternative payment methods for transactions between our countries.

It’s not about replacing our currencies.

But we need to work to ensure that the multi-polar order we desire is reflected in the international financial system.

This discussion needs to be approached seriously, cautiously and with technical solidity, but it cannot be postponed.

Many insist on dividing the world into friends and enemies.

But the most vulnerable are not interested in simplistic dichotomies.

What they want is plenty of food, decent work and quality, universally accessible public schools and hospitals.

It is a healthy environment, without climate events that put its survival at risk.

It is a life of peace, without weapons that victimize innocent people.

As President Erdogan said at the UN General Assembly, Gaza has become “the world’s largest cemetery for children and women”.

This folly is now spreading to the West Bank and Lebanon.

Avoiding escalation and initiating peace negotiations is also crucial in the conflict in Ukraine.

As we face two wars with the potential to become global, it is essential to restore our ability to work together towards common goals.

Therefore, the motto of the Brazilian presidency will be “Strengthening Cooperation in the Global South for More Inclusive and Sustainable Governance”.

Brothers and sisters, I hope to see you at the next Summit to build another chapter of our common history.

Thank you President Putin and thank you to the brothers and sisters in Kazan.

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