"The possibility of using local currencies in trade between the BRICS countries is a topic of great interest to [Brazilian] President Lula da Silva, and Brazil stands for making this new modality available to economic agents of the group's members," the minister said.
A project of this scale requires research and time to get developed, the minister added.
"Technical discussions will show us the way, but Brazil already has some positive experience in this area, which shows that such an alternative to paying for foreign trade operations is possible," the minister said.
Brazil believes that time is needed to hold a meeting of the Friends of Peace platform and join new participants, Mauro Vieira said.
"During the meeting in New York, it was announced that various countries of the Global South could join the initiative. And at least 12 countries joined then," Vieira said, adding that it takes time for new members of the association to join and a platform meeting to be organized.
Brazil is ready to present its proposal for the Friends of Peace platform on Ukraine at bilateral meetings on the BRICS platform, Vieira said.
"We are ready to present the general outline of the proposal to anyone who approaches us for bilateral meetings," Vieira said.