Brazil Aims for Stronger Economic Cooperation With BRICS Partners, EU: Finance Ministry

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Brazil wants to diversify its trading beyond traditional partners in Latin America, and to further cooperate with its partners from BRICS (Brazil, Russia, India, China, South Africa) countries and Europe, Marden Barboza, Deputy Secretary of International Issues at Brazil's Finance Ministry said Wednesday.

"Brazilian government feels that it needs to start developing other directions, including economic and trade spheres," Barboza said during the video conference Moscow-Brasilia held at the Rossiya Segodnya International Information Agency.

"We are currently in talks with the European Union with regards to signing free trade agreement," Barboza said.

BRICS morphing into anti-dollar alliance

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Before the crucial visit to Beijing next week, the governor of the Russian Central Bank, Elvira Nabiullina met Vladimir Putin to report on the progress of the upcoming ruble-yuan swap deal with the People's Bank of China and the Kremlin used the meeting to let the world know about the technical details of its international anti-dollar alliance.

On June 10th, Sergey Glaziev, Putin's economy advisor published an article outlining the need to establish an international alliance of countries willing to get rid of the dollar in international trade and refrain from using dollars in their currency reserves.

SCO, BRICS, and EAU most likely to become serious competitors to US and NATO - expert

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The West should not underestimate the role of the Eurasian Union in international affairs, says Nikolas K. Gvosdev, professor of national-security studies at the US Naval War College and a contributing editor at The National Interest.

Two other institutions - the Shanghai Cooperation Organization (SCO) and the BRICS forum - were likewise dismissed as irrelevant, meaningless efforts at their times of creation but, both have proved their efficiency and durability over the years, the expert stresses.