BRICS – The organization’s name stands for the first letter of each of the five members’ names. The BRIC was established on 16 June 2009, while BRICS was established on 24 December 2011 to seek common ground in political and economic venues and achieve peace, security, development, and cooperation and contribute significantly to the development of humanity and to establish a more equitable world. The BRICS’s members are Brazil, Russia, India, China, South Africa.

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