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BRICS Alliance Adds 6 New Countries Argentina, Egypt, Ethiopia, Iran, Saudi Arabia & United Arab Emirates to Total of 11 Countries Including Brazil, Russia, India, China & South Africa, Represents 37% of Global GDP & 46% of Global Population
25th August 2023 | Hong Kong
The BRICS alliance has added 6 new countries Argentina, Egypt, Ethiopia, Iran, Saudi Arabia & United Arab Emirates (1/1/24) to a total of 11 countries including Brazil, Russia, India, China & South Africa. The 11 countries BRICS alliance will represent 37% of global GDP and 46% of global population.
“ BRICS Alliance Adds 6 New Countries Argentina, Egypt, Ethiopia, Iran, Saudi Arabia & United Arab Emirates to Total of 11 Countries Including Brazil, Russia, India, China & South Africa, Represents 37% of Global GDP & 46% of Global Population “
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BRICS
BRICS is an informal group of states comprising the Federative Republic of Brazil, the Russian Federation, the Republic of India, the People’s Republic of China and the Republic of South Africa.
It was the Russian side that initiated the creation of BRICS.
On 20 September 2006, the first BRICS Ministerial Meeting was held at the proposal of Russian President Vladimir Putin on the margins of a UN General Assembly Session in New York. Foreign ministers of Russia, Brazil and China and the Indian Defence Minister took part in the meeting. They expressed their interest in expanding multilateral cooperation.
On 16 May 2008, Yekaterinburg hosted Meeting of BRICS Foreign Ministers on the initiative of Russia. After the meeting, a Joint Communique was issued, reflecting common stances on topical global development issues.
Another important step was taken on 9 July 2008, when Russian President Dmitry Medvedev met with Brazilian President Luiz Inacio Lula da Silva, Indian Prime Minister Manmohan Singh and Chinese President Hu Jintao on the margins of the G8 Summit in Toyako, Japan, on the Russian initiative.
On the Russian initiative on 16 June 2009, Yekaterinburg hosted the first BRIC Summit. BRIC Leaders issued a joint statement after the Summit. The document set forth the goals of BRIC “to promote dialogue and cooperation among our countries in an incremental, proactive, pragmatic, open and transparent way. The dialogue and cooperation of the BRIC countries is conducive not only to serving common interests of emerging market economies and developing countries, but also to building a harmonious world of lasting peace and common prosperity.” The document outlined a common perception of ways to cope with the global financial and economic crisis.
The growing economic might of BRICS countries, their significance as one of the main driving forces of global economic development, their substantial population and abundant natural resources form the foundation of their influence on the international scene.
In 2013, BRICS accounted for about 27 percent of the global GDP (in terms of the purchasing power parity of their national currencies). The total BRICS population is 2.88 billion (42 percent of the entire global population), and the five countries cover 26 percent of the planet’s land.
BRICS countries are influential members of leading international organisations and agencies, including the UN, the G20, the Non-Aligned Movement and the Group of 77. They are also members of various regional associations. The Russian Federation is a member of the Commonwealth of Independent States, the Collective Security Treaty Organisation and the Eurasian Economic Union. Russia and China are members of the Shanghai Cooperation Organisation and the Asia Pacific Economic Cooperation. Brazil is a member of the Union of South American Nations, MERCOSUR and the Community of Latin American and Caribbean States. The Republic of South Africa is a member of the African Union and the Southern African Development Community. India is a member of the South Asian Association for Regional Cooperation.
Relations between BRICS partners are built on the UN Charter, generally recognised principles and norms of international law and the following principles, which were agreed by member countries at their 2011 Summit: openness, pragmatism, solidarity, non-bloc nature and neutrality with regard to third parties.
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