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BRICS is a group of states created on Russia’s initiative and comprised of the Federative Republic of Brazil, the Russian Federation, the Republic of India, the People’s Republic of China and (since December 2010) the Republic of South Africa.
The first ministerial meeting in the BRIC format was held on the proposal of Russian President Vladimir Putin on the margins of the UN General Assembly session in New York on 20 September 2006.
On 16 May 2008, the first full-fledged meeting of the BRIC foreign ministers was held on Russia’s initiative in Yekaterinburg and, on 9 July 2008, the leaders of the BRIC countries met on the margins of the G8 summit in Toyako, Japan. The first full-format BRIC summit was held on the proposal of the Russian side in Yekaterinburg on 16 June 2009.
The BRICS influence on the international arena is based on the growing economic might of the member states, their importance as one of the main driving forces of the global economic development, a large population and vast natural resources.
BRICS accounts for about 27% of the world GDP (at national currency purchasing power parity). The total population of the BRICS States is 2.88 bln (42% of the world population) and they cover 26% of the world’s territory.
The BRICS political influence is determined by the fact that the States of the group are authoritative members of the leading international structures. They cooperate within the UN and at other regional and international platforms on countering terrorism, the drug threat and corruption, resolving conflicts and ensuring international information security. Their interaction in humanitarian and cultural fields is developing rapidly.
The relations between the BRICS countries are based on the UN Charter, the universally recognized principles and norms of international law, as well as such principles as openness, pragmatism, solidarity, non-block nature and non-aggression with regard to third parties. BRICS is a vivid example of strengthening collective efforts in world affairs. The States that are different in culture and civilization build their relations on the principles of equality, strict consideration for each other’s interests, mutual respect and openness to the outside world.
The formats of interaction among the BRICS members include regular annual summits, meetings of leaders on the margins of G20 summits, meetings of national security advisers, meetings of foreign ministers (including on the margins of the UN General Assembly session), of finance ministers and central bank governors, and heads of other relevant ministries and agencies, as well as Sherpas/sous-Sherpas and meetings of working groups on cooperation in various fields. Contacts between city administrations, business, academic and scientific communities and civil society were established.