The BRICS alliance, initially conceived as an economic grouping of emerging markets, has undergone significant transformation, evolving into a formidable intergovernmental organization with a growing global footprint. Recent expansions and ongoing initiatives underscore its ambition to foster a multipolar world order, challenging traditional Western-dominated institutions.
The acronym BRIC was first coined in 2001 by British economist Jim O’Neill of Goldman Sachs to highlight the economic potential of Brazil, Russia, India, and China. The first formal summit of these four nations took place in Yekaterinburg, Russia, on June 16, 2009, where they established an informal diplomatic club. South Africa joined the group in December 2010, leading to the adoption of the ‘BRICS’ acronym and its first participation as a full member at the 3rd BRICS summit in 2011 in Sanya, China. This initial expansion marked the beginning of BRICS’s journey towards broader global influence, as detailed by Wikipedia.
The alliance witnessed its most significant expansion in recent years. At the 15th BRICS summit in August 2023, held in Johannesburg, South Africa, six new countries were invited to join. While Argentina formally declined the invitation in December 2023, Egypt, Ethiopia, Iran, and the United Arab Emirates officially became full members on January 1, 2024. Further solidifying its reach, Indonesia officially joined as the 11th full member on January 6, 2025, becoming the first Southeast Asian nation in the bloc. Saudi Arabia, though invited, is still considering its membership, as reported by Wikipedia and BRICS.br. The expanded group is now often referred to as BRICS+.
Beyond full membership, the 16th BRICS summit in Kazan, Russia, in October 2024, introduced a new category: ‘partner countries.’ This status allows prospective members to engage with BRICS initiatives before potential full integration. Ten countries have confirmed their partner status by January 2025: Belarus, Bolivia, Cuba, Kazakhstan, Malaysia, Nigeria, Thailand, Uganda, Uzbekistan, and Vietnam. Algeria and Turkey were also invited but have not yet confirmed their status, with Algeria having previously withdrawn its application, according to Wikipedia.
The primary objectives of BRICS include strengthening economic, political, and social cooperation among its members and increasing the influence of Global South countries in international governance. The alliance aims to improve the legitimacy, equity, and efficiency of global institutions like the UN, IMF, World Bank, and WTO. It also seeks to bolster sustainable social and economic development and promote social inclusion, as outlined on the official BRICS website.
Economically, the expanded BRICS+ bloc holds significant weight. It accounts for approximately 46% of the world’s population and 25% of its landmass. In 2022, BRICS+ countries collectively represented 35.6% of the world’s GDP at purchasing power parity (PPP), surpassing both the G7 and the European Union. The group contributes to nearly 30% of global oil output and 45% of global agricultural products, including 42% of the world’s wheat and 52% of rice. Intra-BRICS trade reached US$614.8 billion in 2022, demonstrating growing economic ties, as per Wikipedia.
To support its economic ambitions, BRICS has established key financial institutions. The New Development Bank (NDB), headquartered in Shanghai, was launched in 2014 with an initial capital of $50 billion, focusing on infrastructure projects. Alongside the NDB, the BRICS Contingent Reserve Arrangement (CRA) was created in 2015 to provide a framework for protecting against global liquidity pressures and currency issues, serving as an alternative to Western-dominated financial bodies like the IMF. Discussions are also ongoing regarding a potential common currency, informally dubbed “R5,” and a BRICS Bridge payment system to facilitate cross-border transactions independent of existing systems like SWIFT, as noted by Wikipedia.
The expansion and growing assertiveness of BRICS have drawn varied international reactions. While some in the West view BRICS institutions as an alternative to G7-led blocs, others describe the grouping as an incoherent alliance driven by increasing anti-Western objectives. However, many analysts, including those from the Shanghai Institutes for International Studies, emphasize that BRICS is a “non-Western entity” seeking a “just and reasonable post-Western order” rather than an explicitly anti-Western one. Internal disagreements, such as the India-China border dispute, and varying political systems among members, also present challenges to unified action.
The alliance’s recent summit in Rio de Janeiro, Brazil, in July 2025, highlighted these dynamics. While most leaders attended in person, Russian President Vladimir Putin participated online due to an ICC arrest warrant, and Chinese President Xi Jinping was represented by Premier Li Qiang. During the summit, BRICS finance ministers criticized US tariff policies as a threat to the global economy and condemned military strikes on Iran, as reported by BBC News. This comes amidst threats from US President Donald Trump, who stated that countries aligning with “Anti-American policies of BRICS” would face an additional 10% tariff, further underscoring the geopolitical tensions surrounding the bloc’s rise.
As Brazil assumes the rotating BRICS presidency for 2025, with a focus on international governance reform and Global South cooperation, the alliance continues to navigate a complex global landscape. Its ongoing expansion and initiatives reflect a concerted effort by emerging economies to carve out a more influential role in shaping the future of global governance and economic relations.
