Founding Collective action in the political arena in the late 1990s was present before the economic rationale of BRICS. The idea of a multipolar group like BRICS can be traced back to
Yevgeny Primakov during his term as
Minister of Foreign Affairs of Russia. He reiterated the idea in New Delhi in 1998. The term
BRIC, as compared to the alternate term
CRIB, O'Neill now regards the BRICS group as a failed project. In a 2021 article for
Project Syndicate he wrote that the BRICS countries "have so far proven incapable of uniting as a meaningful global force" and felt in 2024 that "each year also brings further confirmation that the grouping serves no real purpose beyond generating symbolic gestures and lofty rhetoric". The
foreign ministers of the initial four BRIC 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, beginning a series of high-level meetings. A full-scale diplomatic meeting was held in
Yekaterinburg, Russia, on 16 June 2009. The BRIC group's
first formal summit, also held in Yekaterinburg, commenced on 16 June 2009, with
Luiz Inácio Lula da Silva,
Dmitry Medvedev,
Manmohan Singh, and
Hu Jintao, the respective leaders of Brazil, Russia, India, and China, all attending. The summit's focus was on improving the global economic situation and reforming
financial institutions amid the
Great Recession. There was also discussion of how the four countries could better cooperate in the future, Although their statement did not directly criticize the perceived dominance of the
US dollar (as Russia had in the past) it did spark a fall in the value of the dollar against other major currencies.
2010 expansion In 2010, South Africa began efforts to join BRIC, and the process for its formal admission began in August of that year. South Africa officially became a member nation on 24 December 2010 after being formally invited by China, and was subsequently accepted by other BRIC countries. At the
third BRICS summit in 2011 in
Sanya, China, South African president
Jacob Zuma represented the country as a full member for the first time.
New Development Bank and other BRICS representatives during the
15th BRICS summit in Johannesburg, 23 August 2023 In June 2012, the BRICS nations pledged $75billion to boost the lending power of the
International Monetary Fund (IMF). However, the proposed loan was conditional on IMF voting reforms. In March 2013, during the
fifth BRICS summit in
Durban, the member countries agreed to create a global financial institution to cooperate with the western-dominated IMF and World Bank. They planned to set up this
New Development Bank (known at the time as the "BRICS Development Bank") by 2014. At the BRICS leaders meeting in
Saint Petersburg in September 2013, China committed $41billion towards the pool; Brazil, India, and Russia committed $18 billion each; and South Africa committed $5 billion. China, which held the world's largest foreign exchange reserves and contributed the bulk of the currency pool, wanted a more significant managing role. China also wanted to be the location of the reserve. In October 2013, Russia's Finance Minister
Anton Siluanov said that creating a $100billion in funds designated to steady currency markets would be taken in early 2014. The Brazilian finance minister,
Guido Mantega, confirmed that the fund would be created by March 2014. However, by April 2014, the currency reserve pool and development bank had yet to be set up, and the date was rescheduled to 2015. In July 2014, during the
sixth BRICS summit in
Fortaleza, the BRICS members signed a document to create the US$100billion New Development Bank and a reserve currency pool worth over another US$100billion. Documents on cooperation between BRICS export credit agencies and an agreement of cooperation on innovation were also signed. The Fortaleza summit was followed by a BRICS meeting with the
Union of South American Nations presidents in
Brasília.
Other initiatives in Russia Since 2011, the National Institutes of Statistics of the BRICS group of countries (
Institute of Geography and Statistics (Brazil),
Federal State Statistics Service (Russia), the
National Bureau of Statistics (China), the
Central Statistics Office (India), and
Statistics South Africa produce an annual joint statistical publication to put statistical production in perspective, compare adopted methodologies and statistical results. The publication serves as a single data platform for the mutual benefit of participating countries. Since 2012, the BRICS group of countries has been planning an
optical fiber submarine communications cable system to carry telecommunications between the BRICS countries, known as the
BRICS Cable. Part of the motivation for the project was the spying of the
U.S. National Security Agency on all telecommunications that flowed in and out of United States territory. Construction of the proposed cable network was abandoned in 2015, possibly due to cost. In August 2019, the communications ministers of the BRICS countries signed a letter of intent to cooperate in the Information and Communication Technology sector. This agreement was signed in the fifth edition of the meeting of communication ministers of countries member of the group held in
Brasília, Brazil. The
New Development Bank plans on giving out $15billion to member states to help their struggling economies. Member countries are hoping for a smooth comeback and a continuation of economic trade pre-COVID-19. The 2020 BRICS summit was held virtually in St. Petersburg, Russia, and discussed how to handle the COVID-19 pandemic and how to fix the multilateral system via reforms. During the 13th BRICS summit, in 2021, Indian Prime Minister
Narendra Modi called for a transparent investigation into the
origins of COVID-19 under the
World Health Organization with the full cooperation of "all countries", and Chinese leader
Xi Jinping spoke directly afterwards, calling on BRICS countries to "oppose politicisation" of the process. In May 2023, South Africa announced that it would be giving
diplomatic immunity to Vladimir Putin and other Russian officials so that they could attend the 15th BRICS Summit despite the
ICC arrest warrant for Putin. In July 2023, the Russian president announced that he would not personally attend the BRICS summit in Johannesburg on 22–24 August despite good relations with the South African government. Russian news channels noted that Putin would remotely participate online in all BRICS leaders' sessions, including the Business Forum, and also deliver his remarks virtually. In the first 15 years of BRICS, it produced hundreds of decisions and complied with a majority of them. In 2021, BRICS formally agreed to work together to build a satellite constellation and share remote sensing satellite data from this. The constellation will have six existing satellites from China, Russia, and India. In 2023, Russia proposed that the other BRICS members could build a joint research station on its space station.
Discussions BRICS has been involved in discussions related to areas of conflict and humanitarian crises such as Afghanistan, Gaza, Lebanon, Sudan, Haiti, Syria and Ukraine. NATO air strikes in Libya were discussed during the third summit. In 2023, South African chair President Cyril Ramaphosa condemned the Gaza war. In 2024, a joint statement slamming Israel's attacks in Gaza was made by the foreign ministers of BRICS.
2024 expansion In August 2023, at the
15th BRICS summit, South African President
Cyril Ramaphosa announced that six emerging market group countries (
Argentina, Egypt, Ethiopia, Iran,
Saudi Arabia, and the United Arab Emirates) had been invited to join the bloc. Full membership was scheduled to take effect on 1 January 2024. However, the
Argentine general election in November 2023 led to a change in president to
Javier Milei, who had committed to withdraw the country's membership application. On 30 November 2023, incoming Foreign Minister of Argentina
Diana Mondino confirmed that Argentina would not join BRICS. On 29 December 2023, the Government of Argentina sent a letter to all BRICS leaders to officially announce its withdrawal from the application process. By January 2024, Egypt, Ethiopia, Iran, and the United Arab Emirates joined the bloc, making BRICS membership grow from five to nine countries, while Saudi Arabia delayed its membership. Saudi Arabia did not join BRICS at the start of 2024 as had been planned, and it announced in mid-January that it was still considering the matter. As of April 2024, the matter is still under consideration. The organizers touted the expansion as part of a plan to build a competing
multipolar world order that uses
Global South countries to challenge and compete against the western-dominated world order.
China Daily used the expansion to claim that more developing countries were interested in joining BRICS. 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 partner status would allow these countries to engage with and benefit from BRICS initiatives. It is unclear whether the countries in this tier have received official membership invitations.
2025 expansion On 6 January 2025, Indonesia joined BRICS officially as a full member, making it the first
Southeast Asian state to join the bloc, as well as the 10th member of BRICS. Jakarta's bid got the green light from the bloc in 2023, but the Southeast Asian country asked to join following the
presidential election held in 2024. 2025's BRICS presidency leader and Brazil's Lula announced their official entry. Indonesia's history with the original BRIC members goes back to 2009, when some observers referred to a theorized grouping as "BRICI," given Indonesia's growing and stable economy and ties to India and China. The partnerships that were announced in the previous year went into effect in January 2025 as well. Nigeria joined the partnership countries on 17 January. == Statistics ==