Brazil will focus on strengthening global South-South cooperation during its BRICS presidency, which officially began on Wednesday, the Brazilian government said in a statement.

Brazil will also focus on reforming international governance and creating mechanisms to facilitate trade among members of the group, which includes Brazil, Russia, India, China and South Africa, the statement said.

The group is one of the most important political and diplomatic forums for countries of the Global South interested in cooperation in various sectors,” it said.

Its main objectives include developing payment systems that streamline trade and investment between member countries, promoting inclusive and responsible governance of artificial intelligence, and improving financing mechanisms to address climate change.

The agenda also emphasises cooperation projects between the Global South, particularly in the field of public health, and strengthening the BRICS institutional structure.