BRICS is an acronym for an association of 5 major emerging national economies: Brazil, Russia, India, China and South Africa. The BRICS countries met formally for the first time in 2006. South Africa joined in 2010, changing the name to BRICS. Together they represent over 3 billion people and account for approximately 25% of the world's land area and GDP. The BRICS countries established the New Development Bank to fund infrastructure and development projects in BRICS and other emerging economies to supplement the existing institutions like the World Bank and IMF.
BRICS is an acronym for an association of 5 major emerging national economies: Brazil, Russia, India, China and South Africa. The BRICS countries met formally for the first time in 2006. South Africa joined in 2010, changing the name to BRICS. Together they represent over 3 billion people and account for approximately 25% of the world's land area and GDP. The BRICS countries established the New Development Bank to fund infrastructure and development projects in BRICS and other emerging economies to supplement the existing institutions like the World Bank and IMF.
BRICS is an acronym for an association of 5 major emerging national economies: Brazil, Russia, India, China and South Africa. The BRICS countries met formally for the first time in 2006. South Africa joined in 2010, changing the name to BRICS. Together they represent over 3 billion people and account for approximately 25% of the world's land area and GDP. The BRICS countries established the New Development Bank to fund infrastructure and development projects in BRICS and other emerging economies to supplement the existing institutions like the World Bank and IMF.
BRICS is an acronym for an association of 5 major emerging national economies: Brazil, Russia, India, China and South Africa. The BRICS countries met formally for the first time in 2006. South Africa joined in 2010, changing the name to BRICS. Together they represent over 3 billion people and account for approximately 25% of the world's land area and GDP. The BRICS countries established the New Development Bank to fund infrastructure and development projects in BRICS and other emerging economies to supplement the existing institutions like the World Bank and IMF.
Download as PPTX, PDF, TXT or read online from Scribd
Download as pptx, pdf, or txt
You are on page 1/ 24
What is stand for BRICS?
BRICS stands for Brazil,
Russia,
- India,
- China,
- South
Africa. All 5 member of BRICS are developing or newly
industrialized countries.
Introduction
BRICS was originally known as BRIC before the
inclusion of south Africa in 2010.
As of 2015, the five BRICS countries represent over 3 billion people, with combined nominal GDP of US$16.039 trillion. Presently south africa holds the chair of the BRICS groups.
Where did the BRICS idea come from?
The foreign minister of the initial four BRIC
states(brazil, russia, india, china) met in New York
City in september 2006, beginning a series of highlevel meetings. A full scale diplomatic meeting was held in yekaterinburg, russia, on may 16, 2008.
Objective of BRICS nations.
1. To achieve regional development.
2. To remove trade barriers. 3. Economic development. 4. Optimum use of resource. 5. Building relationship
1st BRIC Summit
The BRIC groupings first formal summit
commenced in yekaterinburg on june 16, 2009.
Focus on* improving the global economic situation, * reforming financial institutions, * how the 4 countries could better co-operate in the future
2nd BRIC Summit
The 2010 BRIC summit took place in Brasilia, Brazil
on april 16, 2010.
This years summit follows the Washington Nuclear summit hosted by U.S. President Barack Obama which was attended by all four BRIC states.
Entry of South Africa
In 2010, south Africa began efforts to join the BRIC
grouping, and the process for its formal admission
began in august of the year. South Africa officially became a member nation on december24, 2010. after being formally invited by the BRIC countries to join the group. The group was renamed BRICS In april 2011, the president of south Africa , Jacob Zuma, attended the 2011 BRICS summit in Sanya, China, as a full member.
3rd BRICS summit
The 2011 BRICS summit took place in sanya on the
island of Hainan, China, on 14 April 2011.
Theme and Vision The theme was based under the vision as the 21 st century should be marked by peace, harmony, cooperation and scientific development.
4th BRICS Summit
The summit was held at Taj Mahal hotel in New
Delhi, India on 29 March 2012.
This is the 1st time that India has hosted a BRICS summit. The theme of the summit was BRICS Partnership for Global Stability, Security and Prosperity.
5th BRICS Summit
The summit was held in Durban, South Africa in
2013. This summit commenced on 26-27 march 2013. Amongst the important issues being discussed was the creation of the Development bank.
Background of future bank
To get currencies apparitions. GDP growth rates are more then the development
countries. Growing emerging markets. Climate change, food and energy security International economic exchange. Financial assistant International terrorism Populations control
Problem analysis Populations BRICS countries are taken world 40%
population. Limited liabilities Global financial crisis Big role of the dollar in trade The leadership and some political problems Declining GDP growth
Market analysis GDP growth rate in BRICS nations is higher then
the developing nations.
Big players in FDI. Massive marketing opportunities. Service sector contribution. Human resources using.
India in future bank
Emerging markets opportunities High growth rates Increased foreign direct investments Huge investment in infrastructure Huge middle class boosting demand Abundant supply of educated cheap workforce High potential for outsourcing work specially india
Developments The BRICS Forum, an independent international
organization encouraging commercial, political and
cultural cooperation between the BRICS nations, was formed in 2011. In june 2012 the BRICS nation pledged $75 billion to boost the lending power of the IMF. In late march 2013, the member countries agreed to create a global financial institution which would rival the western-dominated IMF.
SWOT Analysis Strength of the BRICS future bank.
To get cost advantages.
2. To use resources. 3. Market opportunities. 4. Economic developments. .Weakness of the BRICS future bank 1. Population problem. 2. Lack of infrastructure. 3. Decreasing GDP growth rate. 1.
SWOT Analysis Opportunities of the BRICS future
To expend the market.
2. To using the regional development. 3. Monetary resources. .Threats of the BRICS future bank 1. Financial crises. 2. Threats from other unions. 3. Threats from WB. 4. Dollar role 1.
