What is BRICS? BRICS is an acronym representing an association of five major emerging economies: B razil, R ussia, I ndia, C hina, and S outh Africa. Since its inception, the group has aimed to enhance cooperation among these countries and boost their collective influence in global affairs, both politically and economically, as well as in multilateral institutions. BRICS Summit 1. Origins & Founding From BRIC to BRICS The concept began as BRIC in 2001, coined by economist Jim O’Neill to symbolise Brazil, Russia, India, and China as rising economic powers. Learn more These four met for the first time at the G8 Foreign Ministers’ meeting in Yekaterinburg in May 2008, followed by an official BRIC foreign ministers’ meeting on 16 June 2008 Motivated by shared interests—economic growth, increased voice in global governance, and multilateralism—the first BRIC leaders' summit was convened in Yekaterinburg on 16 June 2009 , during the global financial crisis . South Afri...
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