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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 ...
BIMSTEC, a group of countries in South Asia and South East Asia around the Bay of Bengal to promote technological and economic co-operation, which includes Bangladesh, Bhutan, India, Myanmar, Nepal, Sri Lanka, and Thailand. BRIC: Brazil, Russia, India, and China, which are all deemed to be at a similar stage of newly advanced economic development
BRICS—originally made up of just Brazil, Russia, India, China, and South Africa—is going to need a new name.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 ...
The only financial institution the BRICS countries have established so far is the New Development Bank, created in 2015 to finance infrastructure and sustainable development projects in BRICS ...
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.
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 .
During a summit held in South Africa, the BRICS group of nations also approved a resolution to study in the future the creation of "a new currency of payments". Interest from countries to join ...