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BRICS is an intergovernmental organization consisting of ten countries—Brazil, Russia, India, China, South Africa, Egypt, Ethiopia, Indonesia, Iran and the United Arab Emirates. BRIC was originally a term coined by British economist Jim O'Neill and later championed by his employer Goldman Sachs in 2001 to designate the group of emerging markets.
While Egypt, Ethiopia, Iran, and the United Arab Emirates were not admitted as members during the 15th BRICS summit, they were among 22 countries applying for membership. South African Minister of Finance Enoch Godongwana said “There is a second batch of countries that are going to be added [to] BRICS." This means that there are plans for ...
The G20 forum of developing states includes all the BRIC countries. South Africa sought BRIC membership since 2009 and the process for formal admission began as early as August 2010. [33] South Africa was officially admitted as a BRIC nation on 24 December 2010, after being invited by China and the other BRIC countries to join the group. [34]
The expansion of Brics to include Saudi Arabia, which is the top oil exporter in the world and the bloc’s biggest trading partner in the Middle East, is expected to see the group of countries ...
BRICS—originally made up of just Brazil, Russia, India, China, and South Africa—is going to need a new name. After not adding any new members for 13 years, the non-Western international group ...
Egypt, Ethiopia, Iran, Saudi Arabia and the United Arab Emirates have confirmed they are joining the BRICS bloc after being invited last year, South Africa's Foreign Minister Naledi Pandor said on ...
The 2024 BRICS summit was the sixteenth annual BRICS summit, held in Kazan, Russia. It was the first BRICS summit to include Egypt , Ethiopia , Iran , and the United Arab Emirates as members, following their accession to the organization at the 15th BRICS summit .
Expansion of Brics The expansion of Brics is seen as a win for Mr Xi, who is trying to boost Beijing’s global clout by courting nations that share similar views on the US dominance of world affairs.