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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.
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]
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 ...
BRIC's growing share of the world GDP and its stated intent to trade in other currencies – what experts call "de-dollarization" – didn't come up much during the 2024 presidential campaign, but ...
The BRIC countries started meeting formally in 2014 to improve economic cooperation, and added South Africa in 2010 to become BRICS. ... But expansion will likely mean more disagreements in a club ...
President-elect Donald Trump said he would require countries that are part of BRICS — a China- and Russia-backed group of emerging economies — to commit to not creating new currency or face ...
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. The four committed to act jointly at the Copenhagen climate summit , including a possible united walk-out if their common minimum position was not ...
The BRICS group of nations is inviting six countries — Argentina, Egypt, Iran, Ethiopia, Saudi Arabia and the United Arab Emirates — to become new members.