B.R.I.C.S. Discussion

higurashihougi wrote:Oh so Sudan publicly expresses its desire to decrease of Western influence ? Dunno if the West may plan a Maidan here or not.

Sudan always had bad relations with West and was more close to Russia and China

Sudan and South Sudan are still in a civil war among themselves.

max steel wrote:Sudan and South Sudan are still in a civil war among themselves.

Who was the main benefiter and promoter of african genocide and turmoils and absolute medial blackouts about the african genocides with US(P)AID financed crisis, genocide and back up of the south sudan regime and their little warlords?

Werewolf wrote:

max steel wrote:Sudan and South Sudan are still in a civil war among themselves.

Who was the main benefiter and promoter of african genocide and turmoils and absolute medial blackouts about the african genocides with US(P)AID financed crisis, genocide and back up of the south sudan regime and their little warlords?

It's amazing how the West advocated the partition of Sudan, a plan the British had since the 1800's. So they made the fake nation of South Sudan to end the conflict, only for a new civil war to start in South Sudan... ...The Western logic strikes again! Oh BTW South Sudan has an amazing negative 33% GDP growth rates, oh what prosperity!

BRICSA? Argentina Asks Brazil to Promote Its Access to Five-Member Group

Argentine President Cristina Fernandez de Kirchner has reportedly asked Brazil's former president to support her country's bid for BRICS membership.

During a recent meeting with former Brazilian leader Luiz Inacio Lula da Silva, Argentina's President Cristina Fernandez de Kirchner asked him to help her country join the BRICS group, which currently includes Brazil, Russia, India, China and South Africa, media reports said.

According to the agency Prensa Latina, Kirchner's statement, which was made earlier this week, came amid the ongoing election campaign of Daniel Scioli, Argentina's presidential candidate from the ruling Frente para la Victoria (Front for Victory) party.

Lula da Silva backs Scioli, who is expected to become Kirchner's successor given that Argentine law prevents her from running for a third term.

Notably, the issue of Argentina's possible entry in BRICS was on the agenda of last year's BRICS summit in the Brazilian city of Fortaleza, where Kirchner met with Russian President Vladimir Putin and his Chinese counterpart Xi Jinping.

At the time, experts argued that it was too early to speak of Argentina entering BRICS because the country was in a state of technical default due to the refusal by a number of hedge funds to accept the restructuring of Buenos Aires's public debt.

On Thursday, however, the UN General Assembly approved a new non-binding resolution aimed at creating a new legal framework for restructuring national debt. The resolution sets nine principles for restructuring national debt, urging debtors and creditors "to act in good faith and with cooperative spirit."

According to Argentina's media, the decision indicates the United Nations' intent to help protect Argentina and other countries from so-called "vulture funds".

Whereas the four original BRICS nations are ranked by the United Nations and IMF as being among the world's ten largest economies in terms of nominal GDP, South Africa ranks 33rd, far below Argentina. However, South Africa controls key mineral resources.

Meanwhile, Sudan has signaled its readiness to act as an observer state within BRICS, which has significantly increased its international clout in the past couple of years.

Read more: http://sputniknews.com/latam/20150912/1026913924/argentina-brics-brazil-access.html#ixzz3lWfu5DzK

I haven't made any kind of search on this topic, but don't you think that perhaps BRICS is suffering a kind of finantial attack? First it was Russia last year; then China recently; and now Brazil. It happened equally in these three countries: investors running away, rating agencies downgrading their notes, stocks plummeting and the currency suffering a sudden devaluation. Will India be next?

[quote="sepheronx"]

Svyatoslavich wrote:Much like what is happened with and happening with both Argentina and Venezuela as well.

With this I disagree. Argentina and Venezuela really got screwed up by themselves with an extremely poor political economy, mismanaged the extra income they got when commodities were at a very high prize, and started facing problems even before the prizes lowered. China, Russia and Brazil are completely different cases, countries with huge reserves and strong industrial policies (differently from Argentina and Venezuela, which were expecting oil and soy prizes would keep at extremely high levels and didn't care much about developing their industrial sectors).

sepheronx wrote:

Svyatoslavich wrote:

sepheronx wrote:

Svyatoslavich wrote:Much like what is happened with and happening with both Argentina and Venezuela as well.

With this I disagree. Argentina and Venezuela really got screwed up by themselves with an extremely poor political economy, mismanaged the extra income they got when commodities were at a very high prize, and started facing problems even before the prizes lowered. China, Russia and  Brazil are completely different cases, countries with huge reserves and strong industrial policies (differently from Argentina and Venezuela, which were expecting oil and soy prizes would keep at extremely high levels and didn't care much about developing their industrial sectors).

Maybe Argentina, but Venezuela seems to be another case altogether.  A mixture of mismanagement and US taking advantage of that situation and instigating problems (recent video leakage of opposition trying to create a false flag to create situation to overthrow Madruo as example).

I really hope that Russia and China pushes to help both Argentina and Venezuela get out of their messes and steer them towards BRICS.  Doing so will greatly benefit everyone but USA.

This needs to happen right away.

BRICS member-states contribute first $750 mln to New Development Bank

Paid up capital is expected to total $10 bln and is to be paid through 7 tranches, while subscribed capital will total $40 bln

SHANGHAI, January 14. /TASS/. All five member-states of BRICS (Brazil, Russia, India, China and South Africa) made their first contributions worth a total of $750 mln to the capital of the New Development Bank BRICS (NDB BRICS), the financial institution reported on Thursday.
According to the report, the tranches to the bank’s capital were paid in accordance with the agreement on its formation signed in July 2015 at BRICS summit in Ufa.
The contribution to the bank’s capital stock is made through paid up capital, which is directly transferred to NDB, and subscribed capital, which shareholders provide in case it’s needed.
Paid up capital is the key asset for the development bank, the report said. It is expected to total $10 bln to be paid through 7 tranches. Subscribed capital will total $40 bln.
The New Development Bank BRICS, formerly referred to as the BRICS Development Bank, is a multilateral development bank operated by the BRICS states as an alternative to the existing US-dominated World Bank and International Monetary Fund. The financialinstitution headquartered in China’s Shanghai, is set up to foster greater financial and development cooperation among the five emerging markets.

More:
http://tass.ru/en/economy/849570

BRICS countries understand importance of creating energy union — Russian diplomat

BRICS countries are developing a number of new economic partnership projects

MOSCOW, February 15. /TASS/. BRICS countries start to understand that they cannot allow monopoly of Western structures in the sphere of energy, Russian Deputy Foreign Minister Sergey Ryabkov told Rossiya 24 TV channel on Friday.

Answering a question on whether it is possible to create an energy union in the framework of BRICS, Ryabkov noted that "understanding that this is necessary gradually sets in," but time is required to implement this.

"Talking about BRICS energy association, the reference to the situation with payments in national currencies is probably relevant - all of this should grow ripe. We will not be able to artificially speed up some kind of process, but understanding is gradually setting in among BRICS countries that we should not allow monopoly of the West and structures servicing West’s interests in this sphere," the diplomat added.

BRICS countries developing new economic projects

According to the diplomat, BRICS countries are developing a number of new economic partnership projects.

"There are two well-known examples (of cooperation within BRICS - TASS), meaning formation of the BRICS infrastructure bank to upgrade all our countries’ infrastructure in various sectors and a currency reserve pool, which enables to borrow funds from partners within BRICS for macroeconomic benefits," he said.

"Besides, we have a number of BRICS joint projects coming soon, which are being developed in accordance with the economic partnership strategy approved in Ufa. We have a huge number of frameworks for talks in security sector, meaning space, counterterrorism efforts, transport safety, protection of our transport companies from piracy and others," Ryabkov said.

On Monday, India is taking over BRICS presidency from Russia.

Payments in national currencies to secure BRICS economies from US, EU voluntarism

Ryabkov also stressed that payments in national currencies will secure the economies of BRICS states from voluntary approaches of the United States and the European Union.

"Obviously [payments in national currencies will increase - TASS]. We witness great virtues in those payment schemes so that the BRICS states could secure their economies, economic operators from voluntary approaches of the US, the EU and others," he said.

"However BRICS is not a military barrack, not a framework forcing anyone to join those projects under compulsion," deputy minister said. "The development logics will point other participants toward the need to diversify forms of settlement. All BRICS members admit its necessity and reasonability," he added.

The official pointed out that Russia’s presidency in the BRICS group this year has shown that Russia "has raised the stakes" in international affairs.

"Russia, of course, has raised the stakes in international affairs," the diplomat said. "It is even more evident that all that nonsense suggesting that Russia is in some sort of isolation has been destroyed."

"I think this is a good result of the [BRICS] summit in Ufa," he said.

BRICS, an informal association of five fast-developing countries - Brazil, Russia, India, China and South Africa - was founded in June 2006. Its first official summit was held in June 2009 in Yekaterinburg. Since then BRICS summits are held every year in the participating countries alternately. The latest summit was held on July 8-9 last year in Ufa.

More:
http://tass.ru/en/economy/856759

Something struck me today.

I don't want to be paranoid or anything, but has anybody noticed the sudden "struggles" of most the countries making up BRICS?

The Brazilian govt "troubles", the sanctions against Russia coupled with the demonisation of them in the "free" media, the "slowdown" of the Chinese economy coupled with the demonisation of them in the "free" media, the sudden massive depreciation of the South African rand.
So far, only India looks to be unscathed.....until now.

One, fine...two, a coincidence...three, hmmmmmm....four....?? Yeah, right.

It looks very much to me like there is an attack on the BRICS countries by oblique, mainly financial, means......

Rousseff’s ouster weakens BRICS


The fact of the matter is that the removal of Brazil’s Dilma Rousseff from the office of president and her impending impeachment trial does not add up. Crime and punishment must have some co-relation.

Rousseff herself likened her ouster to a coup d’etat. Indeed, the political circumstances are extraordinary. The charge against Rousseff is fiscal wrongdoing – using state money under one budgetary head to cover extra expenditure under another head. She says she diverted the funds for undertaking social programs.

Fiscal jugglery is not unusual for elected governments and it is a common practice in Brazil. No president ever paid this high a price. Curiously, Rousseff is not charged with corruption.

True, Rousseff’s popularity is low, but Vice-President Michel Temer who now replaces her as interim president till 2018 is no better. Only 2% of Brazilians say they will vote for Temer in a presidential election. His legitimacy is questionable. True, Brazil’s economy is in deep recession. But that can be attributed to the slump in commodity prices and the slowdown in the world economy.

That brings us to the famous question by Vladimir Lenin, Who stands to gain?

China’s official news agency Xinhua has quoted a Harvard-educated academic and author based in Havana, Cuba, who analyses that the events in Brazil form part of a ‘regime change’ agenda launched by Washington in 2013 to regain influence in Latin America by replacing the progressive left-leaning governments and undermining the regional integration blocs in the continent. (Xinhua)

On the other hand, Latin America’s democratic transformation is a historical process that cannot easily be undone. Besides, social movements and left-wing politics have become an enduring feature of the continent’s political landscape and it is futile to overlook their legitimate role. Again, Rousseff didn’t pose any ‘strategic challenge’ to US imperialism.

She (and her predecessor Lula), in fact, bore an uncanny resemblance to the UPA government in India (2004-2014) under Prime Minister Manmohan Singh. All three pursued neo-liberal policies interspersed with doses of welfare programs, and studiously avoided any confrontational posturing vis-à-vis the US, while at the same time also steering largely independent foreign policies as emerging powers in the multipolar world setting.

Of course, all three led incredibly corrupt regimes and fostered crony capitalism (which ensues from neo-liberalism). What Rousseff and Manmohan Singh lacked was Lula’s charisma and his innate genius (having been a trade union leader) to connect with the masses. Of course, Manmohan Singh was bookish and pedantic, while both Lula and Rousseff had impressive revolutionary pedigree.

Lula and Rousseff epitomise the paradox of Latin America’s Left. There are really two ‘Lefts’ in that region – a hardcore, reformist and internationalist Left which sprang out of the Communist International and the Bolshevik Revolution, and a second Left stream born out of the great tradition of Latin American populism, which is nationalist and is more interested in policy as the means to attain and conserve power rather than in power as a tool for making policy.

Brazil falls in the second category. In the domestic arena, Lula and Rousseff emphasised social policy – education, anti-poverty programs, healthcare, housing – but within the orthodox market framework. Neither subscribed to old-school anti-Americanism; both took care not to take differences with Washington to the brink. Rousseff’s only run-in was over the Snowden disclosure that the US eavesdropped on her, but she soon reconciled. As for Lula, he warmly welcomed President George W. Bush at his home, while demonstrators burned the visiting dignitary’s effigy just across the street.

Yet, there is something to be said in favour of the Xinhua commentary. Rousseff’s ouster does smack of an undemocratic conspiracy. And the US has a long history of hatching such conspiracies.

Never mind that Rousseff was not a pain in the neck for President Barack Obama. That was also the case with Georgia’s Eduard Shevardnadze and yet Washington staged a colour revolution in 2004 to have good old ‘Shevvy’ replaced – because, it wanted an absolutely reliable ‘anti-Russian’ leader in Tbilisi who would take the country right out of Moscow’s orbit forever. Enter Mikheil Saakashvili, who successfully accomplished that mission. Georgia today is America’s poodle. (Reuters)

Secondly, Brazil is a major partner for China in Latin America and that partnership worries Washington, since Brazil also happens to be Latin America’s superpower – not only the biggest country with over 200 million inhabitants but also the world’s seventh biggest economy.

Thirdly, Brazil is BRICS country. For obvious reasons, BRICS has been an eyesore for Washington. And, lately BRICS began evolving into a global organization. Of course, BRICS represents a ‘growth model’. In geopolitical terms, BRICS presents a dynamic platform for Russia and China to resist US hegemony and to propagate the democratization of the international system. (See the opinion piece by Shyam Saran BRICS – The End of Western Dominance of the Global Financial and Economic Order.)

Now, any architecture becomes unstable if one of its four main pillars becomes shaky and undependable. Of course, what Brazil’s interim president Temer brings to the table at the BRICS summit in Goa in October will be keenly watched, given the WikiLeaks disclosure that he used to be an informant of the American embassy in Brasilia.

https://www.rt.com/op-edge/359428-brics-member-india-escobar/

Pepe Escobar is an independent geopolitical analyst. He writes for RT, Sputnik and TomDispatch, and is a frequent contributor to websites and radio and TV shows ranging from the US to East Asia. He is the former roving correspondent for Asia Times Online. Born in Brazil, he's been a foreign correspondent since 1985, Even before 9/11 he specialized in covering the arc from the Middle East to Central and East Asia, with an emphasis on Big Power geopolitics and energy wars. He is the author of "Globalistan" (2007), "Red Zone Blues" (2007), "Obama does Globalistan" (2009) and "Empire of Chaos" (2014), all published by Nimble Books. His latest book is "2030", also by Nimble Books, out in December 2015.


You may have never heard of LEMOA. In Global South terms, LEMOA (Logistics Exchange Memorandum Agreement) is quite a big thing, signed in late August by Indian Defense Minister Mohan Parrikar and Pentagon supremo Ash Carter.

As Carter spun it four months before the signing, LEMOA rules that US forces “may” be deployed to India under special circumstances. Essentially, Delhi will allow Washington to refuel and keep contingents and equipment in Indian bases – but only in case of war.

In theory, India is not offering the US any permanent military base. Yet considering the Pentagon’s track record that may of course change in a flash.

No wonder Indian nationalists were outraged – insisting there is no strategic gain out of this gambit, especially for a nation that is very proud of being one of the founders of the Non-Aligned Movement (NAM).

The cozying up to the Pentagon happens just a few months after Prime Minister Narendra Modi – who had been denied a US visa for nearly a decade – addressed a joint meeting of Congress in a blaze of glory, declaring that India and the US are natural allies” and calling for a closer partnership.

Modi went no holds barred, even referring to Gandhi’s influence on Rev. Martin Luther King’s nonviolent civil disobedience strategy – something that could not but earn him a standing ovation in Capitol Hill.

The “closer” partnership does involve military and nuclear issues. As Modi reminded Congress – which needed no reminding – the industrial-military complex sold weapons to India “from almost zero to $10 billion in less than a decade.”

Then there’s the US-India nuclear cooperation deal, which opens a window for US corporations to build and supply Indian nuclear power reactors. And eventually Washington is bent to share “some” – and the operative concept is “some” – military technology with Delhi.

Geopolitically, this all boils down to what happened recently in the Philippine Sea, as the US, Japan and India practiced anti-submarine warfare and air defense maneuvers; practical evidence of the “pivot to Asia”, as in re-tweaking Asia’s naval-security “order” to counteract – who else – China.

Modi performs geopolitical yoga

Yet things are not as black and white – from the Indian point of view. It’s no secret that key sectors of the Indian diaspora in the US are quite integrated with the Washington consensus and usual suspect hegemony mechanisms such as the Council on Foreign Relations and the Rand Corporation. But Modi’s game is way more sophisticated.

Modi’s priority is to solidify India as the top South Asian power. So he cannot afford to antagonize Washington. On the contrary; he’s getting the US on board his vastly ambitious Make in India strategy (“a major national initiative designed to facilitate investment; foster innovation; enhance skill development; protect intellectual property; and build best-in-class manufacturing infrastructure.”)

Naturally, US corporations – heavy supporters of TPP – are salivating at the lucrative prospects. The drive is similar to what China did decades ago, but now with emphasis on “protection of intellectual property” to attract the TPP-obsessed crowd.

Another geopolitical Modi goal is to forcefully present India - not Pakistan - to Washington as the ideal reliable/rational partner in South Asia. That’s dicey, because for the Pentagon the multiple declinations of the war on terror in AfPak are de facto being configured as something like Operation Enduring Freedom Forever.

And then there’s once again the military angle: India diversifying its weapons suppliers – mostly it buys from Russia – towards the US, but not that much, establishing a careful balance.

This is a balance between the US and BRICS, in itself is the hardest nut to crack. As Beijing admits in no uncertain terms, “BRICS faces the risk of retrogressive, rather than progressive, cooperation because of new, intricate circumstances.”

Talk about a diplomatic euphemism for the ages. And this as Washington will go no holds barred to contain China behind the First Island Chain in the South China Sea while there’s not much Delhi can do to contain Myanmar providing Beijing with total access to the Indian Ocean via Pipelineistan, ports and high-speed rail.

Meet INSTC

At the next BRICS summit in Goa next month, some of these geopolitical intricacies will be quietly discussed behind closed doors. BRICS may be in disarray, with Brazil under regime change, Russia under sanctions and India flirting with the US. But BRICS remains committed to serious institutional moves, such as the New Development Bank (NDB), the push towards trading in their own currencies and a multi-pronged politico/economic drive towards a multipolar world.

This drive is graphically in effect when we examine one of the key – unreported - Eurasian integration stories; the symbiosis between India and Iran. Delhi counts on Tehran to up its game as an economy propelled by natural gas as well as profiting in the long run from the perfect – Persian - gateway to Central Asian markets.

The key hub of course is the port of Chabahar. The highlight of a Modi visit to Tehran four months ago was a Chabahar contract between India Ports Global Private Limited and Arya Banader of Iran. That’s about “development and operation for 10 years of two terminals and 5 berths with cargo handling”.

There’s way more; development of Special Economic Zones (SEZs) and essential road/rail links from Iran to Afghanistan and further into Central Asia. India will then have direct access to Afghanistan, bypassing Pakistan. It does not hurt that Delhi and Kabul are already strategic partners.

Chabahar is only 500 km east of the ultra-strategic Strait of Hormuz.

In the near future, we might as well see a configuration where the Indian Navy has the right to use Chabahar while the Chinese Navy has the right to use Gwadar, in Pakistan, only 150 km by sea east of Chabahar. Nothing that BRICS dialogue – or the Shanghai Cooperation Organization (SCO) – could not keep on smooth sailing mode.

For Iran, this is a certified “win-win” game. Iran not only will be connected to the Chinese One Belt, One Road (OBOR); but it will also solidify yet another trade/transportation corridor in Eurasia; the International North-South Transportation Corridor (INSTC) between the Indian Ocean and Central Asia. Key INSTC members happen to be Iran, India and… Russia. Talk about, once again, the interpenetration of BRICS and the SCO.

The Big Picture ahead under Modi’s long term planning does not look like Delhi subjected to the role of flagrant vassal of Washington. India needs certified stability with all key players – from the US to China, considering the master plan is to lift 1.3 billion Indians close to the living standards of middle-class Chinese.

China had a head start. India may take up to 2050 to do it. Meanwhile, it’s not to India’s interests to actively join any US policy of China containment or encirclement, be it “pivot” or “rebalance”. It’s more like India, in a Gandhian way, will be practicing the fine art of nonviolent, forceful neutrality.

The statements, views and opinions expressed in this column are solely those of the author and do not necessarily represent those of RT.

https://www.rt.com/op-edge/359428-brics-member-india-escobar/

http://www.newindianexpress.com/nation/2016/oct/08/india-to-bring-proposal-for-funding-syrias-reconstruction-at-brics-summit-1526263.html?pm=170


NEW DELHI: Making its involvement in mitigating the conflict in the Middle East more concrete, India is mulling to propose a BRICS fund for the reconstruction of war-ravaged Syria at the upcoming Summit in Goa where the Heads of the world’s 5 major emerging national economies will meet.

Last year when the five countries established the New Development Bank, it showed willingness to pool together resources to provide reconstruction aid to Syria and other war-torn countries across the world.

Sources indicated that India might be putting the proposal to provide this reconstruction aid by pooling in resources. While Russia has been playing an active role in the conflict by deciding to fight on the side of the Syrian President Bashar-al Assad and its armed forces targeting the rebels, other member countries do not have immediate stake in the conflict. So the adoption of the proposal, sources said, would depend on the cooperation of the member-states.

In its first major outreach to the region since the conflict began in the country in 2011, Minister of State for External Affairs MJ Akbar had traveled to Syria in August this year and held a meeting with President Assad. The meeting signaled India siding with the ruling dispensation in Syria, even as the Western countries especially the US has been in favour overturning the Assad government. The Syrian President while appreciating India’s “objective” position on the conflict invited New Delhi to play a greater role in the reconstruction of the war-torn country.

Akbar’s visit came close on the heels of a high ranking Chinese official. The Syrian regime has been seeking India’s support for long, but despite opposing to oust the Assad government through foreign intervention, New Delhi has not been vocal about its views on the issue. The proposal would change this and would be in sync with India’s growing aspiration for increased weight in the international arena. Also stability in the Middle East is of India’s interest as the region remains its major source of energy.

Also as India has been vying for a permanent seat the UN Security Council a step-back from the traditional non-aligned policy and configuring its foreign policy on international conflict would be desirable.

The Heads of State of Brazil, Russia, India, China and South Africa will be present during the summit to be organized in Goa on October 15-16.

According to the UN estimates Jordan, Iraq, Lebanon, Turkey and Egypt will collectively need $5.5 billion a year to fund their response to the Syrian crisis. But the international community has been able to put together only a little more than 1/5th of the estimated requirement. Brazil has also pledged $ 5 million last year at an international pledging conference on the crisis.

China to host next BRICS summit in 2017 — Xi Jinping

More:
http://tass.com/world/906801

No question that the US, and particularly its intel agencies, has and will be using both overt and covert means to try to put a monkey wrench into the BRICS coalition.

Putin calls on BRICS partners to support Russia’s bid to host Expo-2025

More:
http://tass.com/economy/1014949


BRICS launches practical dialogue on mutual payments in national currencies

More:
http://tass.com/economy/1014731


BRICS New Development Bank to finance 5 projects in Russia

More:
http://tass.com/economy/1014661

BRICS (Russia, Brazil, India, China, South Africa) launches the process of expanding membership in the association’s New Development Bank, Russian Deputy Foreign Minister and Russia’s BRICS Sherpa Sergey Ryabkov announced on Tuesday.

https://tass.com/economy/1277533

Sizing up BRICS’ structure and accomplishments
According to the World Bank, BRICS countries account for approximately 30% of the Earth's territory and 42% of the world’s population

MOSCOW, June 23. /TASS/. The 14th summit of the BRICS group scheduled for June 23, 2022, is underway. The organization is an informal international association of five rapidly developing countries - Brazil, Russia, India, China and South Africa. The summit will be held by video link under China’s presidency. The quintet will focus on the promotion of global development, world economic problems, as well as ways of strengthening the role of the developing countries.

Creation and goals

The acronym BRICS is derived from the names of the association’s member countries in English. Before the accession of South Africa in 2011 the group was known as BRIC.

The first BRIC summit was in Yekaterinburg in June 2009. The association’s mission was then defined as the development of a consistent, active, pragmatic and open dialogue and cooperation among countries. Later, more principles of joint activity, such as non-bloc status and neutrality towards third parties were agreed upon.

BRICS does not have a secretariat or charter. The rotating presidency is held by the summit’s host country, which is responsible for coordinating all current activities (in recent years the member-states took turns as BRICS chairs according to the sequence of letters in the acronym).

Summits, ministerial meetings

Since the Yekaterinburg meeting, the bloc’s summits have been organized annually in one of the member countries (the last one, chaired by India, was held by videoconference on September 9, 2021). Since 2013, the presiding country, as a rule, has invited other states, close to it geographically and geopolitically, to participate in the event. Also, the BRICS leaders meet at international forums. In addition to summits, negotiations are held regularly at the level of foreign ministers, ministers of finance, health, education, science and agriculture, and secretaries of security councils. At the latest meeting of the quintet’s foreign ministers on May 19, 2022, China came up with the idea of launching a process of BRICS expansion, with the aim of increasing its membership and influence in the world.

Since 2015, BRICS has been holding civil, parliamentary and youth forums, as well as media summits. In all, more than 20 communication platforms operate within the BRICS framework. The agendas of these meetings cover areas such as energy efficiency, climate change, food security, poverty alleviation, sustainable development, and the activities of international financial institutions.

Business, economic and financial activities

To date, the association has established several business and financial institutions, such as the Alliance of Exchanges (2011), Business Council and the Council of Expert Centers (2013). In July 2014, the BRICS New Development Bank (NDB; headquartered in Shanghai) was founded. Its share capital stands at $100 billion. The NDB’s task is to finance infrastructure and sustainable development projects in BRICS states and developing countries. Since the beginning of its operations, the NDB has approved 78 projects for a total of $29.3 billion (on March 4, 2022, the NDB suspended new transactions in Russia "in light of the growing uncertainty and restrictions").

Since 2015, the summits have consistently approved a key five-year document in the field of economic cooperation - the Strategy for BRICS Economic Partnership. The latest one was approved in November 2020.

Currently, work is underway to transition BRICS countries to mutual settlements in national currencies and create a Bond Fund in national currencies. Russian President Vladimir Putin, speaking at the BRICS business forum on June 22, 2022, said that efforts were in progress on creating an international reserve currency based on a basket of currencies of the association’s member-countries. Some experts believe that such a currency may protect the BRICS countries from sanction risks associated with settlements in dollars and euros.
Other cooperation tracks

The BRICS Science Technology Innovation (STI) Steering Committee has been functioning since 2013. In September 2017, the BRICS Network University (established in 2015) began to operate. It incorporates about 60 universities of the association’s member-countries (including 12 in Russia, such as Moscow State University, St. Petersburg State University, and the Urals Federal University).

BRICS countries have been holding film festivals since September 2016, and festivals of theater schools since 2017. In August 2020, at Russia’s initiative the first meeting of sports ministers took place. A memorandum of cooperation among the sports ministries was approved. The document envisages the BRICS Games in the presiding country, exchanges of athletes and coaches, cooperation in sports, including mass sports, and sports recreation and leisure.

In 2020, against the backdrop of the coronavirus pandemic, Russia suggested considering the creation of an early warning system as a countermeasure against mass infections and biological threats. According to Russia’s Health Ministry 9,500 students from India, 450 from China, 270 from South Africa, and 240 from Brazil are studying at Russia’s medical organizations at the moment.

The BRICS Counter-Terrorism Strategy was approved at the 12th Summit on November 17, 2020.

In August 2021, the heads of the BRICS space agencies signed an agreement to exchange Earth remote sensing data.

Statistics

According to the World Bank, BRICS countries account for approximately 30% of the Earth's territory and 42% of the world’s population. In 2020 (later data not published), the total GDP of BRICS countries amounted to 25% of the global one ($21 trillion), and their share in world trade was close to 20% ($6.7 trillion).


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