Mexico Joins BRICS Talks, Seeks Strategic Alliances

Juan Ramón de la Fuente, Minister of Foreign Affairs, participated as an invited observer at the BRICS summit, where he promoted the upcoming Latin America and Caribbean Economic Well-Being Summit proposed by President Claudia Sheinbaum. According to the ministry, the summit seeks to “build a multilateral framework that upholds the dignity of our peoples, respects our cultures, and can manage global commons to benefit all nations equally."

While Mexico is not a BRICS member, a bloc composed of 20 emerging economies including Brazil, Russia, India, China, and South Africa, it was invited. During the summit, De la Fuente met with his counterparts from Brazil and Uruguay, Mauro Vieira, and Gerardo Alckim, respectively.

With Brazil, the ministers agreed on a business delegation visit to Mexico in late August, focused on expanding bilateral trade, aligning pharmaceutical regulations, streamlining visa processes, and promoting tourism.

In talks with Uruguay, discussions centered on strengthening regional integration through CELAC, which Uruguay will soon chair. Both countries emphasized the need for more balanced and effective economic cooperation across Latin America.

Last week, President Sheinbaum announced that Mexico would seek strategic partnerships with Brazilian companies, prioritizing collaboration with the private sector over competition. She also highlighted India’s growing interest in Mexico’s pharmaceutical sector, with a meeting scheduled later this year between Indian industry representatives and the Mexican government to explore investment opportunities.

Prior to the summit, De la Fuente met with Sergio Díaz-Granados, Executive President, Development Bank of Latin America and the Caribbean (CAF), to discuss the goals of Plan México and the country’s regional development strategy. They also addressed Guatemala’s recent accession to CAF, which paves the way for binational infrastructure and development projects in Mexico’s South-Southeast region.