BRICS History:

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.

BRICS Benefits:

Headquartered in Shanghai, China. It main objectives are to cooperate between the member nations for
development, provide financial assistance, support various projects, infrastructure etc. It has also agreed
to provide financial assistance, support to countries other than members.

BRICS is an important Grouping bringing together the major emerging economies from the world,
comprising 42% of the world population, having 23% of the world GDP and over 16% share in the world
trade. BRICS countries have been the main engines of global economic growth over the years.Dec 5,
2019

The main long-term goal of BRICS is to help facilitate a much-needed level of cooperation between the
member nations for the purposes of development, to better support various projects, to help provide
financial assistance, infrastructure development, and more.

BRICS Negotiations:

BRICS plays a very important role in the system of international security. It works as an accelerator of
those changes which are on the way now. The group due to its rising economic and political heft,
expanding economic size, increasing financial opportunities and active foreign policy are gaining
influence over decision-making process in this very sphere. The main feature and at the same time the
brightest opportunity for the BRICS members is their diversity. Representing almost the half of the world
population, the most ancient civilizations and the richest cultures, the BRICS states naturally
complement and complete one another. Therefore, the most criticized aspect of this group may be the
most useful one. A collective approach is vital here, and BRICS has demonstrated its adherence to it so
far. It is necessary to remember that there are too many promises given by various politicians, countries,
international organizations of the modern world. These promises are often left without any
consequences. The task of the BRICS leaders is not to forget that there should be something more than
just ordinary words. The result is needed and the success of BRICS is highly dependent on whether the
declarations and vows will lead to real actions.

BRICS Member Countries:

Brazil, Russia, India, China and South Africa (BRICS) is an acronym for the combined economies of Brazil,
Russia, India, China and South Africa. Economists at Goldman Sachs originally coined the term BRIC
(without South Africa) in 2003. Analysts speculated that, by 2050, these four economies would be the
most dominant. South Africa was added to the list on April 13, 2011 creating "BRICS".

As of 2011, five countries were among the fastest growing emerging markets. It's important to note that
the Goldman Sachs thesis isn't that these countries are a political alliance (like the European Union) or a
formal trading association. Instead, they have the potential to form a powerful economic bloc. Leaders
from BRICS countries regularly attend summits together and often act in concert with each others’
interests.