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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. It is considered to be a counterpart and alternative to the G7 bloc of the world's largest economies and combined represent nearly half [2] of the world's population.
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 ...
The bloc of emerging market nations known as BRICS—which currently includes Brazil, Russia, India, China, and South Africa—is expanding its membership for the first time since 2010.
Nearly three dozen countries are seeking entry into the China and Russia-backed BRICS economic group, member state South Africa said Wednesday, weeks after the body expanded its membership for the ...
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 countries have economies that are vastly different in scale and governments with often divergent foreign policy goals, a complicating factor for the bloc's consensus decision-making model.