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The story of BRICS, an acronym that represents the alliance of Brazil, Russia, India, and China, is one of remarkable growth and transformation. This powerful group emerged on the world stage, reshaping international dynamics in the process.
It all began in July 2006 when the leaders of Brazil, Russia, India, and China gathered for the first time in St. Petersburg, Russia, during the G8 Outreach Summit. Shortly thereafter, in September 2006, the group was officially formalized as BRIC during the 1st BRIC Foreign Ministers’ Meeting, held on the sidelines of the UN General Assembly’s General Debate in New York City.
The journey continued, and after a series of high-level meetings, the 1st BRIC summit was convened in Yekaterinburg, Russia, on 16 June 2009. This marked a significant milestone as these emerging economies came together to deliberate on global challenges and opportunities.
BRIC soon expanded its horizon. In September 2010, during the BRIC Foreign Ministers’ meeting in New York, South Africa was welcomed as a full member, leading to the transformation of BRIC into BRICS (Brazil, Russia, India, China, South Africa). The 3rd BRICS Summit was the first to include South Africa, held in Sanya, China, on 14 April 2011.
BRICS quickly emerged as a prominent global alliance, comprising countries with a collective population of 41% of the world, covering a vast area of the planet, contributing to 24% of global GDP, and accounting for 16% of world trade, based on World Bank data from 2019.
Over the years, BRICS countries have collaborated under three key pillars: political and security, economic and financial, and cultural and people-to-people exchanges. They have become the engines of global economic growth, making significant contributions to the evolving global landscape.
As the history and evolution of BRICS continue, the alliance reached new horizons during the 15th BRICS Summit in South Africa. Six additional countries—Argentina, Egypt, Ethiopia, Iran, Saudi Arabia, and the United Arab Emirates—joined the BRICS alliance, expanding its reach and influence on the world stage. This expansion marks a pivotal moment in the ever-evolving story of BRICS, solidifying its position as a major force in shaping the future of our interconnected world.
