3. “In Economic, BRICS is an acronym that refers to
countries- Brazil, Russia, India, China and South Africa”
4. BRICS
• Jim O'Neill, global economist at Goldman Sachs.
• "Building Better Global Economic BRICs“
• BRIC became BRICS.
• Brazil, Russia, India, China and South Africa .
• Members are all developing or newly industrialised
countries.
6. PURPOSE OF BRICS
• For improving the global economic situation and
reforming financial institutions, and discussed how the
five countries could better co-operate in the future.
• The economic potential of Brazil, Russia, India, China
and South Africa is such that they could become
among the four most dominant economies by the
year 2050.
• To expand industrial cooperation and make
contributions to world peace, prosperity and
development.
8. RESULTS
• In 2008, BRIC Accounted for 22% of the world economy, up from16%
a decade earlier.
• Total trade within the Brics grouping of countries amounted to $6.1billion,represents 16.8 percent of global trade.
• Agreed on the structure of a proposed development bank with $50
billion (€37.8 billion) in capital.
• Beginning of transforms from the model of establishing big
framework to methods of implementing substantial cooperative
projects in concrete fields.
• BRICS countries delivered a bigger common voice.
