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Map of BRICS members and prospective members. 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 countries committed to study the feasibility of a new common currency or similar, at the 2023 BRICS summit in South Africa. [ 161 ] [ 162 ] [ 163 ] 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 expansion adds economic heft to Brics whose current members are China, Brazil, Russia, India, and South Africa as the world enters a new period of turbulence and transformation, experts tell ...
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]
Six new countries including Saudi Arabia have been invited to join the Brics bloc of developing nations, South Africa has announced, after three days of closed-door discussions between members.
This is a list of representative leaders of BRICS states at each BRICS Summit since the group's inception in 2009. This article needs additional citations for verification . Please help improve this article by adding citations to reliable sources .
BASIC countries (red) and other G20 developing nations (green). The BASIC countries (also Basic countries or BASIC) are a bloc of four large newly industrialized countries – Brazil, South Africa, India and China – formed by an agreement on 28 November 2009.
Russian President Vladimir Putin and South African President Cyril Ramaphosa at the virtual 14th BRICS summit on 23 June 2022. In response to the 2014 annexation of Crimea by the Russian Federation, the Zuma administration avoided criticizing Russia, arguing instead for BRICS members to unite in order to defend common interests of the group. [9]