BRICS

BRICS (Eng. BRICS — Brazil, Russia, India, China, and South Africa) is an interstate union of countries with dynamically developing economies — Russia, Brazil, India, China, and the Republic of South Africa
The organisation was founded in June 2006 at the St. Petersburg Economic Forum with the participation of the economy ministers of Brazil, Russia, India, and China. South Africa would later join the organisation in 2010.
Purpose of the Commonwealth of Nations
This community of countries primarily strives to discuss topical economic issues and regional and political problems, develop new trade and financial strategies, and advance cooperation in the humanitarian, cultural, and sports spheres.
Relations among the BRICS member states are built on the principles of non-interference, equality, and mutual benefit
The "BRIC" acronym was originally coined by the British economist Jim O’Neill in 2001
He used the term to name the four countries (Brazil, Russia, India, China) and their economies that, in his opinion, will be rising faster than the rest of the world thanks to their potential and low base.
A play on the English word "brick" is not random. It emphasizes the fact that the further growth of global economy will be built on these countries' development.
Jim O’Neill predicted that the BRICS countries would become global dominant economies by 2050.
Facts and figures
BRICS countries occupy a total of about 30% of the Earth’s territory
BRICS countries control about 43% of the world’s foreign exchange reserves
In 2024, the number of member countries in the organization has increased to 10
Total population of the BRICS member countries is 42% of the global total
BRICS countries account for about 20% of the global GDP
BRICS countries
Chronology of the BRICS Summits
1st BRIC Summit, 16 June, 2009, Ekaterinburg, Russia
2nd BRIC Summit, 15-16 April, 2010, Brasilia, Brazil
3rd BRICS Summit, 13-14 April, 2011, Sanya, China
4th BRICS Summit, 28-29 March, 2012, New Delhi, India
5th BRICS Summit, 26-27 March, 2013, Durban, South Africa
6th BRICS Summit, 15-16 July, 2014, Fortaleza, Brazil
7th BRICS Summit, 8-9 July, 2015, Ufa, Russia
8th BRICS Summit, 15-16 October, 2016, Goa, India
9th BRICS Summit, 4-5 September 2017, Xiamen, China
10th BRICS Summit, 25-27 July, 2018, Johannesburg, South Africa
11th BRICS Summit, 13-14 November, 2019, Brasilia, Brazil
12th BRICS Summit, 17 November, 2020, Moscow, Russia
13th BRICS Summit, 9 September, 2021, New Delhi, India
14th BRICS Summit, 24 June, 2022, Beijing, China
15th BRICS Summit, 22-24 August, 2023, Johannesburg, South Africa
16th BRICS Summit, October 2024, Kazan, Russia
BRICS has its work annually coordinated in turn by the host country of the BRICS Summit in accordance with the action plan approved at the previous summit