The BRICS new global economy is transforming international trade. That’s happening right now. And Canada stands in a rather unique position to capitalize on this shift—if it plays its cards right. Here’s what’s interesting: the bloc controls about 44% of global grain production at the time of writing, and it also represents around 46% of the world’s population. Which creates some pretty unprecedented opportunities for countries rich in commodities (like Canada).
Canada’s global trade leadership could actually emerge through strategic partnerships with BRICS members—China, India, Brazil, and others. This means diversifying beyond the traditional Western markets that are, as it turns out, facing growing uncertainty these days.
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Canada Prepares For Leadership In The BRICS New Global Economy And Trade Shifts
The BRICS Commodity Market Influence Is Reshaping Trade Architecture
The BRICS commodity market influence has been expanding. Significantly so. The coalition now includes ten full members—Brazil, Russia, India, China, South Africa, along with Egypt, Ethiopia, Iran, the United Arab Emirates, and Indonesia. Ten partner countries have joined as well. And this expansion has strengthened the group’s control over critical resources and agricultural outputs worldwide.
The implications are being felt across global markets right now.
Here’s the thing—the proposed BRICS grain exchange represents what many see as a direct challenge to Western commodity pricing mechanisms. The initiative was endorsed by BRICS leaders during the Kazan summit in 2024, surprisingly with unanimous support.
Russian President Vladimir Putin stated at the Kazan summit:
“Putting this initiative into practice will help protect national markets from negative external intervention, speculation and attempts to cause an artificial shortage of foodstuffs.”
Russian Deputy Prime Minister Dmitry Patrushev emphasized:
“This project will create all the necessary conditions for the formation of independent price indicators for grain.”
In other words, they’re building price-setting power.
Now here’s where Canada comes in. The country currently ranks as the world’s third-largest wheat exporter—about 15% of global trade. And participation in the new BRICS commodity platforms could actually position Canadian agricultural products for direct access to markets representing 44% of world grain consumption. That’s a substantial share (to put it mildly).
A Multipolar Financial System Opens Up Strategic Pathways
BRICS currency alternatives are reshaping the financial landscape. The multipolar financial system being built includes local settlement mechanisms—ways for countries to trade without using dollars. There are even discussions around units of account backed by gold and member currencies, which represents a significant shift in how global finance operates.
Prime Minister Mark Carney told reporters in West Kelowna, British Columbia:
“We cannot count or fully rely on what has been our most valued trading relationship.”
That’s a pretty stark statement.
The reality is, this reflects growing concerns about U.S. tariff policies that have actually reached 35% on certain Canadian exports. Recent polling shows that 91% of Canadians favor decreased reliance on the United States. Which creates some real political space for diversified trade relationships moving forward.
Trade expert Hemant M. Shah stated regarding Canada-India relations:
“By deepening our ties with India, we would be sending a clear message to the world: Canada is forward-looking, confident, and ready to seize opportunities for its people.”
What’s interesting is how Canada’s natural resources match up with what BRICS countries are looking to import. Energy, strategic minerals, agricultural commodities—the whole package. India’s infrastructure boom and China’s food security priorities create immediate demand for stable, high-quality Canadian supplies. Right now.
Strategic Integration Through The BRICS New Global Economy
The BRICS grain exchange aims to facilitate transactions in local currencies—reducing dollar dependency without eliminating it entirely. This approach to the multipolar financial system offers flexibility that wasn’t available in previous eras (or at least not to this extent).
Eduard Zernin, head of the Russian Union of Grain Exporters, projected:
“Trading of agricultural and related products on a BRICS commodity exchange could exceed $1 trillion in future.”
For Canada, this represents opportunity. Not threat. Canadian expertise in transparent price discovery and reliable commodity delivery could actually anchor credibility for these new trading platforms—something they desperately need to gain market trust. Infrastructure investments connecting Canadian ports and rail systems with Asian markets would enable diversified export flows, creating resilience against disruptions in any single market system.
Also Read: BRICS 2025 Summary: De-Dollarization Push and Gold Reserves Surge
The multipolar financial system emerging from BRICS initiatives actually reflects broader economic realignment. It’s been happening for a while now. President Trump warned of 10% tariffs on countries “aligning themselves with the Anti-American policies of BRICS“—but as it turns out, such threats may accelerate rather than prevent diversification efforts. Canadian strategic positioning could benefit from engaging BRICS members on specific trade corridors and commodity agreements. While also maintaining balanced Western relationships (a tricky balancing act, to be sure).
Navigating Between Multiple Economic Blocs
Canada’s global trade leadership in this context depends on how well the country can navigate between multiple economic blocs. It’s not simple. The BRICS new global economy isn’t replacing the existing order overnight—but it’s creating alternative pathways that commodity exporters can leverage. And BRICS currency alternatives offer Canadian exporters options for settling transactions outside dollar-denominated systems. Which adds another layer of flexibility to trade operations.
The BRICS commodity market influence will likely continue growing. That seems clear. As the bloc expands its membership and deepens integration among existing members, opportunities multiply. Canada’s ability to engage with this shift while preserving traditional partnerships could define its economic trajectory for decades to come.
In practice, the BRICS new global economy represents not just a challenge to Western dominance but also an opportunity—one for middle powers like Canada to enhance their global standing through strategic partnerships across multiple blocs.
