Let’s start about BRICS summit 2024
BRICS is an intergovernmental organisation comprising nine countries.
B- Brazil
R- Russia
I- India
C- China
S- South Africa
Iran, Egypt, Ethiopia, United Arab Emirates. BRICS are conducted mainly based on non interference, equality and mutual benefit. The grouping envolved into a geopolitical block, with their governments meeting annually at formal summits and coordinating multilateral policies since 2009.
Formation – September 2006
Founded at – Yekaterinburg,Russia (1st BRIC Summit)
Type – Intergovernmental organisation
Purpose – Political and economical
Fields – International politics
The 16th annual BRICS summit was held in Kazan, Russia from October 22 to 24, 2024. On 24 October 2024, an additional 13 countries namely Algeria, Belarus, Bolivia, Cuba, Indonesia, Kazakhstan, Malaysia, Nigeria, Thailand, Turkey, Uganda, Uzbekistan and Vietnam were invited to participate as partner countries.
The term BRIC originally developed in the context of foreign investment strategies. It was introduced in the 2001 publication, Building Better Global Economic BRICS by Jim O’Neill, then head of global economics research at Goldman Sachs and later Chairman of Goldman Sachs Asset Management.
The foreign ministers of the initial four BRIC General states (Brazil, Russia, India and China) met in New York City in September 2006 at the margins of the General Debate of the UN Assembly, begining a series of high level meetings.
In August 2023, at the 15th BRICS Summit, South African President Cyril Ramaphosa announced that 6 emerging market group countries (Argentina, Egypt, Ethiopia, Iran, Saudi Arabia and the United Arab Emirates) had been invited to join the bloc.
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