Tue. Jul 23rd, 2024

What is BRICS? What are objectives of the team?

BRICS is a grouping of the world economies of Brazil, Russia, India, China, and South Africa formed by the 2010 addition of South Africa to the predecessor BRIC. BRICS is an acronym for the powerful grouping of the world’s leading emerging market economies, namely Brazil, Russia, India, China and South Africa. The BRICS mechanism aims to promote peace, security, development and cooperation. Dedollarization is also one of the objectives of the group.

It was founded: June 16, 2009 by Russia, China, India, Brazill. BRICS the abbreviation stands for – Brazil, Russia, India, China, and South Africa.

The BRICS leaders in 2023, from left to right: Lula da Silva, Xi Jinping, Cyril Ramaphosa, Narendra Modi and Sergey Lavrov (representing Putin). Member states shown in dark blue.

According to Spokesperson of China Foreign Ministry the 15th BRICS Summit decided to invite Saudi Arabia, Egypt, the UAE, Argentina, Iran and Ethiopia as full members.

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