BRICS: 5 countries officially join the Group of Emerging Nations
BRICS: 5 countries officially join the Group of Emerging Nations
Current Affairs Daily Articles & Editorials
La Excellence IAS Academy | February 1, 2024 | International Relations
Syllabus: GS-II
Subject: International Relations
Topic: International Institutions, agencies and fora
- New Members: Egypt, Ethiopia, Iran, Saudi Arabia, and the United Arab Emirates (UAE) have confirmed joining BRICS.
- Members aim to reshape what they see as an outdated world order through BRICS.
- Argentina, initially invited, has declined the invitation to join BRICS.
Take Away Notes for Mains:
| What BRICS expansion means for India:
· It offers India a platform for non-Western collaboration. · Provides avenues for cooperation with Russia and China, among others. · Emphasizes BRICS as a “non-Western” group. |
Institution in News (Prelims)
| BRICS: Brazil, Russia, India, China, and South Africa, represent major emerging economies.
Aim: Focus on cooperation across economics, finance, politics, and culture, while advocating for a fairer global order. · The leadership of the forum rotates annually among the member nations, following the acronym B-R-I-C-S. · Unlike a formal organization, BRICS functions as a forum for dialogue and cooperation rather than a structured institution. · BRICS represents significant global influence, with member countries collectively accounting for 41% of the global population, 24% of global GDP, and 16% of global trade. Important Outcomes:
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Source: Mint
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