BRICS which consists of Brazil, Russia, India, China and South Africa, is becoming more and more influential since it started more than a decade ago.
Moreover, what BRICS do have in common is that they are all economies transitioning from developing to developed.
By 2016, BRICS held 41% of the world’s population, just under 30% of the globe’s territory, 23% of the global GDP and 18% of its trade. Following this, it is safe to say that BRICS is gaining currency and possibly, influence.
The 10th annual BRICS Summit was held last month in Johannesburg, South Africa. Furthermore, the representatives and leaders of the five countries met to discuss the best method to cooperate strategically and realistically in the face of their differences.
In addition, BRICS aspires to boost multilateral trade, financial connectivity and investment between developing nations, potentially, according to sources, to minimise their dependence on the West.