BRICS is the for an association of five major emerging national economies: Brazil, Russia, India, China and South Africa. Originally the first four were grouped as “BRIC” (or “the BRICs”), before the induction of South Africa in 2010. The BRICS members are all leading developing or newly industrialized countries, but they are distinguished by their large, sometimes fast-growing economies and significant influence on regional affairs; all are members. Since 2009, the BRICS nations have met annually at formal summits. China hosted the 9th BRICS summit in Xiamen on September 3, 4 and 5, 2017. The term does not include countries such as South Korea, Mexico and Turkey for which other acronyms and group associations were later created.
- JIM’o’NIel in 2001 first used the word. It has Brazil, Russia, India China and South Africa as its members
- Headquarters at Shanghai, China
- 1st meeting was held in Yekaterinburg Russia in 2006 between foreign ministers. In 2009 South Africa joined in 2011 Sanya, China in 3rd meeting
- 40 percent population 45 percent of world growth since 2009, 23 percent GDP of world.
- New Development Bank (NDB) -treaty signed in 2014 and came into force in 2015.
Headquarters-Shanghai , China
President- KV Kamath
It shall support public or private projects through loans guarantees
equity participation and other financial instruments
2017 – in XIAMEN China in September.
Theme: Stronger Partnership for a Brighter Future
Declaration: BRICS action agenda on economic and trade cooperation supporting inter market linkages and financial integration. Strategic framework of BRICS Customs Cooperation for sharing and assistance in Customs control. Coordination Centre of BRICS Agriculture will be established in India. Action Plan for 2017-2020 for enhancing research in ICT 5G, Nanotechnology and Internet of things.
2018 – 10th summit will be in Johannesburg South Africa.
List of BRICS Nation’s summit:
|Sr. No.||Date(s)||Host country||Host leader||Location||Notes|
|1st||16 June 2009||Russia||Dmitry Medvedev||Yekaterinburg (Sevastianov’s House)|
|2nd||15 April 2010||Brazil||Luiz Inácio Lula da Silva||Brasília||Guests: Jacob Zuma (President of South Africa) and Riyad al-Maliki (Foreign Minister of the Palestinian National Authority)|
|3rd||14 April 2011||China||Hu Jintao||Sanya (Sheraton Sanya Resort)||First summit to include South Africa alongside the original BRIC countries.|
|4th||29 March 2012||India||Manmohan Singh||New Delhi (Taj Mahal Hotel)||The BRICS Cable announced an optical fibre submarine communications cablesystem that carries telecommunications between the BRICS countries.|
|5th||26–27 March 2013||South Africa||Jacob Zuma||Durban (Durban ICC)|
|6th||14–17 July 2014||Brazil||Dilma Rousseff||Fortaleza (Centro de Eventos do Ceará)|
|BRICS New Development Bank andBRICS Contingent Reserve Arrangementagreements signed.|
Guest: Leaders of Union of South American Nations (UNASUR)
|7th||8–9 July 2015||Russia||Vladimir Putin||Ufa (Congress Hall)||Joint summit with SCO-EEU|
|8th||15–16 October 2016||India||Narendra Modi||Benaulim (Taj Exotica)||Joint summit with BIMSTEC|
|9th||3–5 September 2017||China||Xi Jinping||Xiamen (Xiamen International Conference Center)||Joint summit with EMDCD|
|10th||3–5 September 2018 (expect)||South Africa||Cyril Ramaphosa||Johannesburg|