BRICS International Forum
International Trade & Development - New Delhi, Delhi, India
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BRICS International Forum Details
BRICS is the acronym for an association of five major emerging national economies: Brazil, Russia, India, China, and South Africa. The grouping was originally known as "BRIC" before the inclusion of South Africa in 2010. The BRICS members are all developing or newly industrialised countries, but they are distinguished by their large, fast-growing economies and significant influence on regional and global affairs; all five are G-20 members. As of 2014, the five BRICS countries represent almost 3 billion people which is 40% of the world population, with a combined nominal GDP of US$16.039 trillion (20% world GDP) and an estimated US$4 trillion in combined foreign reserves. As of 2014, the BRICS nations represented 18 percent of the world economy. Brazil held the chair of the BRICS group in 2014, having hosted the group's sixth summit in 2014. BRICS International Forum was formed during the first BRICS International Forum Meet 2015, New Delhi held on 27-30 January 2015 at Russian Centre of Science and Culture, Cultural Department of Embassy of Russian Federation in India 24, Firoz Shah Road New Delhi. BRICS International Forum (BIF) is as an independent international organization that works for a structured social, economic and environmentally sustainable BRICS block.BRICS International Forum(BIF) was established to discuss the prospects of cooperation in the political, economic, humanitarian and cultural cooperation between the BRICS countries. Realities of the modern world encourage BRICS countries to establish an ongoing dialogue between communities at all levels and effective exchange of views and experiences. This is due to the fact that the severity of problems requires international coordination and consolidation of joint actions within the BRICS and needs the search for new mechanisms of cooperation and integration.
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