BRICS is an intergovernmental organization comprising ten countries " Brazil, Russia, India, China, South Africa, Egypt, Ethiopia, Indonesia, Iran and the United Arab Emirates. The idea of a BRICS-like group can be traced back to Russian foreign minister Yevgeny Primakov and to the two forums RIC (Russia, India, China) and IBSA (India, Brazil, South Africa).[1] BRIC was originally a term coined by British economist Jim O'Neill and later championed by his employer Goldman Sachs in 2001 to designate the group of emerging markets.[2][3] The first summit in 2009 featured the founding countries of Brazil, Russia, India, and China, where they adopted the acronym BRIC and formed an informal diplomatic club[4] where their governments could meet annually at formal summits and coordinate multilateral
BRICS is an intergovernmental organization comprising ten countries " Brazil, Russia, India, China, South Africa, Egypt, Ethiopia, Indonesia, Iran and the United Arab Emirates. The idea of a BRICS-like group can be traced back to Russian foreign minister Yevgeny Primakov and to the two forums RIC (Russia, India, China) and IBSA (India, Brazil, South Africa).[1] BRIC was originally a term coined by British economist Jim O'Neill and later championed by his employer Goldman Sachs in 2001 to designate the group of emerging markets.[2][3] The first summit in 2009 featured the founding countries of Brazil, Russia, India, and China, where they adopted the acronym BRIC and formed an informal diplomatic club[4] where their governments could meet annually at formal summits and coordinate multilateral