BRICS

Question 1

what

Question 2

when

Answer 2

2009

Question 3

who

Answer 3

intergovernmental organization comprising Brazil, Russia, India, China, South Africa, Iran, Egypt, Ethiopia, and the United Arab Emirates.

Question 4

purpose

Answer 4

to bring together the world’s most important developing countries, to challenge the political and economic power of the wealthier nations of North America and Western Europe.

Question 5

structure

Answer 5

1. Summits:
   
   • The BRICS holds annual summits where the leaders of the member countries come together to discuss and coordinate their positions on a wide range of global issues. These summits serve as a platform for high-level political dialogue and decision-making.
2. Ministerial Meetings:
   
   • In addition to the annual summit, BRICS members also hold ministerial meetings in various sectors, such as foreign affairs, finance, trade, and others. These meetings allow for in-depth discussions and coordination on specific policy areas.
3. New Development Bank (NDB):
   
   • The NDB, often referred to as the BRICS Bank, is a multilateral development bank established by BRICS member countries. It aims to provide financial assistance for infrastructure and sustainable development projects in emerging economies. The NDB operates as a key financial institution within the BRICS framework.
4. Contingent Reserve Arrangement (CRA):
   
   • The CRA is a financial arrangement established by BRICS member countries to provide mutual assistance and support in times of financial crises. It serves as a reserve pool that member countries can access to address balance of payments difficulties.
5. Business Council:
   
   • The BRICS Business Council is a platform for business leaders from member countries to engage in dialogue, promote trade and investment, and identify opportunities for economic cooperation. The council plays a role in facilitating private sector collaboration among BRICS nations.
6. Think Tanks Council:
   
   • The Think Tanks Council of BRICS provides a platform for think tanks and research institutions from member countries to exchange ideas, conduct joint research, and contribute to policy discussions on various global issues.
7. Academic Forum:
   
   • The BRICS Academic Forum brings together scholars, researchers, and academics from member countries to discuss and collaborate on academic and research initiatives related to economics, politics, and other fields of study.