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Purpose of BRICS

BRICS, an acronym for Brazil, Russia, India, China, and South Africa, is a group of major emerging economies that have come together to challenge the dominance of the United States and its Western allies in the global order.

The bloc was founded in 2009 as an informal club to provide a platform for its members to assert their influence and promote economic cooperation.

This article will explore the history, purpose, and key facts about BRICS, shedding light on its significance in the international arena.

Understanding BRICS

BRICS is no formal multilateral organization like the United Nations or the World Bank.

Instead, it functions as a forum for dialogue and collaboration among its member nations.

The heads of state and government of the member countries convene annually, with each nation taking up a one-year rotating chairmanship of the group.

The primary focus of BRICS is strengthening economic cooperation, increasing multilateral trade, and fostering development among its members.

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