The BRICS Summit: A Gathering of Global Powerhouses
Introduction: The BRICS Summit, an annual meeting of the leaders of Brazil, Russia, India, China, and South Africa , has become an influential platform for discussing global challenges and fostering cooperation among emerging economies. Since its inception in 2009, the summit has grown in importance, showcasing the collective strength of these nations and their growing influence on the world stage. Goal of the BRICS: The primary goal of the BRICS Summit is to promote economic development, enhance trade relations, and strengthen political ties among its member countries. With a combined GDP of over $18 trillion and a population of more than 3 billion people, BRICS nations represent a significant economic force that has the potential to reshape global markets and transform the international order. KEY ASPECTS: One of the key aspects of the BRICS Summit is the focus on financial cooperation. The establishment of the New Development Bank (NDB) and the Contingent Reserve Arrangement (CRA)