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BRICS countries committed to study the feasibility of a new common currency or similar, at the 2023 BRICS summit in South Africa. [ 112 ] [ 113 ] [ 114 ] Fair and easier international trade , as well as a major reduction in costs of transactions , would be some of the reasons for the countries to forge a currency union.
The original member states of BRICS, an international organization of world economies, consisted of Brazil, Russia, India, and China. South Africa formally joined in 2010 and attended the 3rd BRICS summit.
BRICS stands for Brazil, Russia, India, China and South Africa, who are the original members of the intergovernmental organization that first aimed to highlight international investment strategies.
Russia is keen to build up the BRICS group - which currently comprises Brazil, Russia, India, China and South Africa - into a more influential bloc able to challenge Western domination of the ...
The 2023 BRICS summit was the fifteenth annual BRICS summit, an international relations conference attended by the heads of state or heads of government of the five member states: Brazil, Russia, India, China, and South Africa. [2] [3] South African President Cyril Ramaphosa also invited the leaders of 67 countries to the summit. [4]
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.
Egypt hopes its imminent inclusion in the BRICS bloc of developing nations will help ease its shortage of foreign currency and attract new investment, but analysts say it may take time before any ...
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 .