14th summit of BRICS countries organised
The 14th BRICS Summit was held in virtual mode on 23rd June, 2022 which was presided over by the President of China, Xi Jinping.
During this meeting, the Heads of State discussed inter-BRICS cooperation in areas such as trade, terrorism, traditional medicine, health, environment, reform of multilateral institutions and combating the COVID-19 pandemic.
The summit was attended by Chinese President Xi Jinping, Russian President Vladimir Putin, Prime Minister Narendra Modi, South African President Cyril Ramaphosa and Brazilian President Jair Bolsonaro.
The BRICS grouping has become a forum for all developing countries to discuss and deliberate on issues of common concern.
Ahead of the summit, China held several preliminary meetings, including the BRICS Foreign Ministers' Meeting and the National Security Advisors' meeting.
The BRICS Summit 2022 was held under the theme “Foster High-Quality BRICS Partnership, Usher in a New Era for Global Development” .
The 13th BRICS summit was held in India in the year 2021 which was presided over by Prime Minister Narendra Modi.
India hosted the BRICS summit for the third time in 2021 after 2012 and 2016.
About BRICS
The full form of BRICS is Brazil, Russia, India, China, and South Africa.
Goldman Sachs economist Jim O'Neill coined the term BRIC (without South Africa) in 2001.
He claimed that by 2050, the four BRIC economies would dominate the global economy by 2050.
South Africa was included in the list in 2010.
The presidency of the Forum is rotated annually among the members.
BRICS accounts for about 40% of the world’s population.
It accounts for 30% of the world's GDP (Gross Domestic Product).
In the year 2014, during the 6th BRICS Summit in Fortaleza, Brazil, the BRICS leaders signed an agreement to establish a New Development Bank (NDB).
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