BRICS Evolution

The conceptual design of BRICS took root between 1996 and 1998 within the corridors of the Russian Ministry of Foreign Affairs. On the Russian side, both theoretical and practical foundations for this development were clearly evident at that time. The theoretical underpinning can be traced to the vision of Foreign Minister Yevgeny Primakov, who proposed a strategic Eurasian triangle consisting of Russia, India, and China, aimed at diversifying Russia's foreign policy away from an overreliance on Western nations. This idea was first articulated during his official visit to India in 1998. In April 1997, Russia and China adopted the Joint Declaration on a Multipolar World and the Establishment of a New International Order. However, for various reasons, the envisioned strategic triangle could not materialise in the 1990s. Today, all three nations have successfully navigated or set aside their differences, actively collaborating not only within BRICS but also since 2001, through the RIC framework, addressing military and political aspects and security issues.  Since then, meetings of foreign ministers have become the cornerstone of RIC activities, with 17 such events occurring from 2002 to 2023. 

The inaugural meeting of BRIC foreign ministers took place following the guest session of the G8 St. Petersburg Summit, which took place on July 15–17, 2006. Just a few months later, on September 20 of that year, the four ministers reconvened in New York on the sidelines of the 61st Session of the UN General Assembly for a joint informal lunch at the Brazilian diplomatic mission, an initiative spearheaded by Russian Foreign Minister Sergey Lavrov. During this meeting, the parties agreed to foster multifaceted cooperation between their nations.

The recognition of the shared interests between Russia and other five BRICS nations was further solidified through the Heiligendamm - L'Aquila Process (HAP). This dialogue paved the way for the next meeting of BRIC foreign ministers in 2007, held on the sidelines of the 62nd Session of the UN General Assembly. During this gathering, a pivotal decision was made to establish a consultative mechanism at the deputy minister level, along with regular interactions among permanent representatives to the UN.

The first comprehensive meeting of BRIC foreign policy heads took place on May 16, 2008, in Yekaterinburg, complementing another session on the sidelines of the UN General Assembly that September. Here, the parties tackled pressing issues such as the global financial architecture, food crisis, climate change, and enhancing cooperation within the HAP. Following the Yekaterinburg meeting, a joint communiqué was issued, capturing the unified stance of the parties on key global development matters. This moment marked a significant milestone, showcasing the BRIC countries' commitment not only to economic collaboration but also to political alignment, reflecting a shared perspective on many pressing issues on the global agenda. Since then, meetings of foreign ministers have become a regular fixture. 

In November 2008, the BRIC finance ministers' meetings were launched by Brazil, taking place in São Paulo just before the G20 Summit. Subsequently, the central bank governors from all four nations were invited to join this session. During this inaugural meeting, the ministers and central bank governors tackled a range of pressing issues, including the stabilisation and regulation of international financial markets, the threat of protectionism, and the reform of international financial institutions. They also focused on the redistribution of International Monetary Fund (IMF) quotas set for review in January 2011, the allocation of special drawing rights, the role of reserve currencies, and the activation of a new income model.

Acknowledging the necessity of alignment on financial and economic matters, these meetings became a regular fixture, primarily held before each G20 ministerial meeting and on the sidelines of sessions of the IMF and World Bank.

Additionally, on the eve of the G8 Summit held on July 7–9, 2008 in Toyako, Japan, the BRIC leaders conducted their first informal meeting. Russia also spearheaded a security dialogue, which first convened in Moscow in May 2009.

I BRIC Summit

The inaugural BRIC Summit took place in Yekaterinburg in June 2009. During this event, several key documents were adopted, including the Yekaterinburg Declaration and the BRIC Action Plan.

In February 2011, South Africa joined the group, transforming BRIC into BRICS. This expansion represented a significant shift in the group's global positioning. Although South Africa's economy was significantly smaller compared to the other BRICS nations, its inclusion made the group more representative. BRICS has started to position itself as the most reputable and representative group of non-Western developing countries. Over time, BRICS cooperation has broadened to include new areas like infrastructure, energy, and investment.

New Development Bank (NDB)

In 2014, BRICS established the New Development Bank (NDB) and the Contingent Reserve Arrangement. These initiatives marked the start of the group's efforts to create alternatives to the Western-dominated global economic system. Over time, this mission became the top priority for BRICS and has expanded significantly. The activities of the New Development Bank have also intensified considerably. For instance, the African Regional Centre of the NDB was opened in South Africa in 2018, followed by similar centres in Brazil, Russia, and India in 2019, 2020, and 2022, respectively. NDB membership has also grown, with Bangladesh and the UAE officially joining in 2021, Egypt in 2023, and Uruguay potentially joining in 2025.

BRICS Potential Expansion

In 2022, under China's Chairship in BRICS, the agenda expanded to include discussions on bringing new members into the group. This focus on expansion reflected the successes BRICS had achieved over the years and the significant shift towards a multipolar world order. The rise of what has been termed the "Global Majority" — a diverse coalition of non-Western developing nations aiming to assert their sovereignty and support a more just global governance system — has been a driving force behind this shift. Beijing, in particular, initiated BRICS expansion as a means to further strengthen its influence across the developing world.

By early 2023, six nations — Algeria, Egypt, Iran, Bahrain, Saudi Arabia, and the UAE — had formally applied to join BRICS. These countries bring substantial economic potential and hold significant regional and global political influence. Moreover, throughout 2023, approximately twenty additional countries have expressed their desire to join the group. This list includes key regional players such as Turkey, Kazakhstan, Cambodia, Malaysia, Thailand, Senegal, Ethiopia, Nigeria, Belarus, and Venezuela.

The XV BRICS Summit, held in Johannesburg on August 22–24, 2023, and chaired by South Africa, marked a pivotal moment in the BRICS' evolution. This summit will be remembered for its historic decision to expand the group by inviting new member states. Iran, Saudi Arabia, the UAE, Egypt, Ethiopia, and Argentina were all extended invitations. However, Argentina, which had previously expressed interest in joining BRICS, declined the invitation under the leadership of its new president, Javier Milei, opting instead to prioritise closer ties with the US and the West. With this expansion, the number of BRICS countries doubled, transforming the group into a BRICS 10 and bringing key players from the Middle East and Africa into the fold. This solidified BRICS as the most representative group of developing, non-Western nations, positioning it as the vanguard of the Global Majority.

Interest in joining BRICS continues to grow, and by 2024, Russian officials reported that around 30 countries had expressed their desire to become member states. However, during Russia's Chairship in 2024, it was decided to temporarily pause further expansion in the short term to focus on integrating the new members and developing the institution of BRICS partners. The groundwork for this framework was laid at the Johannesburg Summit in 2023. During the BRICS Summit in Kazan held on October 22–24, 2024, BRICS partner modalities were successfully developed, leading to the establishment of the partner state category. After the summit, official invitations were extended to 13 nations, whose preliminary inclusion in this framework had been agreed upon by the BRICS leaders. As of November 2024, Belarus, Kazakhstan, Indonesia, Malaysia, Thailand, and Bolivia had confirmed their acceptance of the invitation to become BRICS partners. Turkey and Uganda also announced their receipt of invitations. The new BRICS format is poised to commence practical operations in early 2025, during Brazil's Chairship. Meanwhile, on January 6, 2025, it was revealed that Indonesia had officially joined BRICS as a full member.

BRICS Today

BRICS continues to focus on key priorities such as financial and economic cooperation, which includes efforts to develop a settlement system independent of the US dollar and to increase the use of national currencies in transactions. The group is also actively engaged in combating international terrorism and organised crime, as well as coordinating the positions of its member states on major global issues.

The BRICS expansion has significantly boosted its influence in global affairs. Today, the member nations, including Indonesia, encompass 47.764 million km²—32% of the world's inhabited land surface. They are home to approximately 3.958 billion people, representing 49% of the global population, and their combined GDP stands at 65.263 trillion US dollars, accounting for 39% of the world’s GDP in PPP.

Since its inception, BRICS has convened 16 summits, with the latest taking place in 2024 in Kazan under Russia's leadership. This summit yielded significant outcomes: the establishment of the BRICS partner group, with invitations extended to 13 nations; the creation of the Grain Exchange; the Investment Platform; the Contact Group on Climate and Sustainable Development; the Working Group on Nuclear Medicine; the Geological Platform; and the launch of the BRICS Transport Dialogue. In addition, the Kazan Declaration reaffirmed the group's commitment to expanding trade in national currencies and advancing towards a new intra-BRICS settlement and payment mechanism independent of the US dollar. It also highlighted the group's rejection and condemnation of unilateral sanctions and other restrictive measures while advocating for a multipolar world order.

In addition to the summit, the host country organises numerous events throughout its chairship, encompassing over 30 different formats, including meetings of foreign ministers, central bank governors, scholars, and representatives from other fields. In 2024 alone, around 250 such events were held on a wide array of topics and at different levels, marking Russia's Chairship as the most successful in BRICS' history.