BRICS forum is expected to expand
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BRICS forum expected to expand soon
What is BRICS?
BRICS is the acronym coined to associate five major emerging economies: Brazil, Russia, India, China, and South Africa. The BRICS members are known for their significant influence on regional affairs. The BRICS countries started holding formal summits in 2009. Their headquarters are situated in Shanghai. Their aim is to promote peace, security, development and cooperation in the world.
BRICS Summit 2022
China organised the BRICS Summit 2022 on the 19th of May. The theme for BRICS 2022 is Foster High-Quality BRICS Partnership Usher in a New Era for Global Development. China’s State Councillor and Foreign Minister, Wang Yi hosted the BRICS summit, attended by the remaining member countries.
- India’s External Affairs Minister S. Jaishankar
- South Africa’s Minister of International Relations and Cooperation Naledi Pandor
- Brazil’s Minister of Foreign Affairs Carlos Alberto Franco França
- Russia’s Minister of Foreign Affairs Sergey Lavrov attended the summit.
Extension of BRICS group
The BRICS (Brazil, Russia, India, China, South Africa) forum is expected to expand and include new developing country members, as per the government of China. The Foreign Ministry of China stated that Beijing will promote the expansion process and welcome more countries to join the forum. The discussions will be held about the expansion of the forum and the member countries will find the standards and procedures for the expansion process. Also, the BRICS Plus consultation will also be held during the meeting of ministers.
What is BRICS Plus?
BRICS Plus is a new phase in the expansion of the forum. It is known for its combined economic growth potential. This initiative welcomes more countries and enhances the economic conditions. China is an active supporter of BRICS Plus. Post pandemic, the member countries of the BRICS forum agree that it will be beneficial to cooperate with emerging markets and developing countries. What do you think about it? Share in the comments below.
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