What is BRICS and What Does It Do?

BRICS is an international group of countries that cooperate on economic and political matters. The organization brings together nations from the Global South to work on shared goals. What is BRICS today is very different from when it first started as just an economic term.

The group serves as a forum where member countries can discuss important world issues. They meet regularly to coordinate their positions on global problems. BRICS aims to give developing countries more influence in international organizations like the United Nations and World Bank.

BRICS is most known for challenging the dominance of Western countries in global affairs. The group wants to create a more balanced world order where developing nations have a stronger voice. This includes reducing dependence on the US dollar and creating alternative financial institutions for member countries.

The story of BRICS begins in 2001 with economist Jim O'Neill from Goldman Sachs. He wrote a research paper about four fast-growing economies: Brazil, Russia, India, and China. O'Neill called them "BRICs" and predicted they would become major economic powers.

The concept remained just an economic idea until 2006. That year, foreign ministers from these four countries met during a United Nations meeting in New York. This was the first time they gathered as a group to discuss working together on political issues.

The first official BRIC summit happened in 2009 in Yekaterinburg, Russia. The leaders of Brazil, Russia, India, and China met to discuss the global financial crisis. They wanted to coordinate their response and have more influence in solving world economic problems.

In 2010, South Africa joined the group, and BRIC became BRICS. The addition of South Africa was important because it brought an African voice to the organization. China formally invited South Africa, and the other members welcomed the expansion.

The most recent expansion of BRICS happened between 2023 and 2025. In 2023, six countries were invited to join: Argentina, Egypt, Ethiopia, Iran, Saudi Arabia, and the United Arab Emirates. However, Argentina decided not to join after a change in government. In 2024, Egypt, Ethiopia, Iran, and the UAE became full members. Indonesia joined as the newest member in January 2025.

BRICS works to increase cooperation between member countries in many areas. The group focuses on economic coordination, political dialogue, and cultural exchanges. What BRICS is doing includes creating new institutions that can compete with Western-dominated organizations.

One major achievement is the New Development Bank, established in 2015 and located in Shanghai, China. This bank provides loans for infrastructure projects in member countries and other developing nations. BRICS also created the Contingent Reserve Arrangement, which helps member countries during financial emergencies.

The organization promotes trade between member countries using their own currencies instead of the US dollar. What is BRICS hoping to achieve is reduced dependence on the American financial system. They have discussed creating a common BRICS currency, though this remains in early planning stages. The group also coordinates positions on international issues like conflicts in Ukraine and Gaza.

Today, BRICS includes eleven full member countries from different continents. These nations represent some of the world's largest economies and populations.

Current BRICS Members:

- Brazil (2009)

- Russia (2009)

- India (2009)

- China (2009)

- South Africa (2011)

- Egypt (2024)

- Ethiopia (2024)

- Iran (2024)

- United Arab Emirates (2024)

- Indonesia (2025)

The organization also has "partner countries" that participate in some activities but are not full members. These include Belarus, Bolivia, Cuba, Kazakhstan, Malaysia, Nigeria, Thailand, Uganda, Uzbekistan, and Vietnam. Many other countries have expressed interest in joining BRICS, showing the growing appeal of this alternative to Western-led institutions.