14th summit of BRICS countries organised

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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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