Brazil assumed the presidency on the back of a successful presidency of the G20, both dovetailing around the pursuit of political and economic cooperation of the Global South, encouraging the development of a sustainable and inclusive global governance, promoting intra-BRICS economic cooperation, advancing technology for development, and exploring financing tools against climate change. On January 1, 2025, Brazil officially took over from Russia the Presidency of BRICS, the prominent forum for political and economic cooperation. This follows closely after Brazil handed over the presidency of the G20, the forum of the major global economies, to South Africa, a fellow BRICS country in early December 2024. BRICS, originally made up of Brazil, Russia, India, China, and South Africa, recently expanded its membership by including Saudi Arabia, Egypt, the United Arab Emirates, Ethiopia, and Iran. This enhanced its representativity, its economic weight and its political significance during changing times in global political economy.