President of Brazil Luiz Inacio Lula da Silva has proposed expanding the use of national currencies in trade among BRICS countries. The announcement was made during his meeting with Brazilian and Indonesian business leaders in Jakarta, reports
Toda Palavra, a TV BRICS partner.
Lula da Silva intends to use the successful experience of Brazil’s Pix payment system and its Indonesian equivalent, QRIS, as a technical model for settlements between BRICS member states. According to him, such technologies could significantly simplify mutual trade in roubles, reals, rupiahs, and other national currencies of the BRICS nations.
“This is part of Brazil’s broader strategy to expand partnerships and facilitate trade,” the Brazilian leader emphasised.
Lula da Silva
arrived in Indonesia on a two-day state visit. Earlier, during his meeting with President of Indonesia Prabowo Subianto, the Brazilian leader had already stated that both countries were interested in trading using their local currencies. He described “the freedom to use our own currencies” as a necessity.
During the visit, Lula da Silva also met with Secretary-General of the Association of Southeast Asian Nations (ASEAN) Kao Kim Hourn, stating that Brazil seeks to become a full member of ASEAN, according to the
official website of the Brazilian government.
Photo: Ricardo Stuckert /
Official website of the Government of Brazil
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