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BRICS

BRICS is an association of five major emerging economies: Brazil, Russia, India, China, and South Africa, aimed at promoting peace, security, and development. Founded in 2006 with its first summit in 2009, BRICS has expanded to include five new countries, totaling ten members. The group operates through annual summits and focuses on enhancing economic cooperation and reforming international institutions to represent emerging economies better.

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3 views

BRICS

BRICS is an association of five major emerging economies: Brazil, Russia, India, China, and South Africa, aimed at promoting peace, security, and development. Founded in 2006 with its first summit in 2009, BRICS has expanded to include five new countries, totaling ten members. The group operates through annual summits and focuses on enhancing economic cooperation and reforming international institutions to represent emerging economies better.

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mongapurvi038
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BRICS (BRAZIL, RUSSIA, INDIA, CHINA, SOUTH AFRICA)

BRICS is an acronym for an association of five major emerging economies: Brazil, Russia, India, China,
and South Africa. The group aims to promote peace, security, and development in both the member
countries and globally.

When it started:

The concept of BRICS began in 2006, and the first formal summit was held in 2009.

Current countries:

- Brazil

- Russia

- India

- China

- South Africa (joined in 2010)

- This year 5 new countries have joined it Ethiopia, Egypt, Saudi Arabia, Iran and UAE

- In total there are 10 countries

Headquarters

BRICS does not have a permanent headquarters. Instead, it operates through annual summits hosted
by one of the member countries on a rotational basis.

Meeting duration and number of meetings conducted:

BRICS summits are typically held annually. As of 2023, there have been 15 BRICS summits, with the
15th held in Johannesburg, South Africa.

Current Meetings:

The 16th BRICS Summit took place in Kazaan, Russia, from August 22 to 24, 2024.

FOUNDED BY

The idea of BRICS was first proposed by economist Jim O'Neill in 2001 in a paper for Goldman Sachs,
and it was formalized by the governments of the founding members: Brazil, Russia, India, and China.
South Africa joined later in 2010.

MAIN AIM:

The main aims of BRICS are to:

- Promote peace, security, and development in the member countries and globally.

- Enhance economic cooperation and trade among member countries.

- Reform international financial and economic institutions to better represent the interests of
emerging economies.

- Collaborate on common issues such as sustainable development, climate change, and poverty
alleviation.

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