BRICS

BRICS: Brazil, Russia, India, China and South Africa Inclusion of South Africa in 2010 in BRICS The BRICS members are all developing or newl

industrialised countries , but they are distinguished by their large,fast!growing econo"ies and signi#cant in$uence on regional andglo%al a&airs'

Since 2010, the BRICS nations have "et annuall at for"alsu""its(

As of 2014, the !e BRICS countries re"resent almost ) %illion people, ora""ro#imately *0+ of the world population

• The !e nations ha!e a combined nominal -. of /S 1 (0) trillion ,e$ui!alent to a""ro#imately 20+ of the gross world product , and anesti"ated /S * trillion in co"%ined foreign reserves %S&''ITS

S%( )ost country *ocation (otes1 Russia +e aterinb

urg2 Bra-il Bras.lia/ China Sanya irst summit to include South

Africa4 India (e elhi 3 South Africa urban Bra-il ortale-a BRICS (e e!elo"ment

Ban and reser!e currency "oolagreements signed%

5 Russia

&fa

.otential "e"%ers• Indonesia, 3ur4e, and 5e6ico ha!e e#"ressed strong interest in full

membershi" of the BRICS,• 7g pt , Argentina, Iran, 8igeria, S ria and most

recently Bangladesh and reece ha!e also e#"ressed interest in 6oiningBRICS%

• 9a"ath to head BRICS %an4

•

The BRICS had agreed to set u" the 100 %illion de!elo"ment ban lastyear, a ste" that as at the time seen as one that could challenge thedominance of the 7est in the international nancial system%

• The BRICS ban ill start ith an initial paid!in!capital of 0 %illion %8ach BRICS country ill contri%ute 10 %illion % The ban ill fund

infrastructure "ro6ects in de!elo"ing nations, and ill ha!e a 100!%illioncurrenc reserve arrange"ent ;CRA< for hel"ing out countries facingshort9term li$uidity "ressures%