History of BRICS in Timeline
BRICS is an intergovernmental organization composed of Brazil, Russia, India, China, South Africa, Egypt, Ethiopia, Indonesia, Iran, and the United Arab Emirates. Originally termed BRIC by economist Jim O'Neill in 2001, the initial four countries (Brazil, Russia, India, China) held their first summit in 2009, forming a diplomatic club for annual summits and policy coordination. South Africa joined in 2010, officially becoming BRICS. Egypt, Ethiopia, Iran, and the United Arab Emirates joined in 2024, and Indonesia joined in early 2025. The term BRICS+ is informally used to acknowledge the expanded membership.
February 1952: Turkey Joins NATO
1990: Economy of BRICS Beginning Growth
The economy of the BRICS has risen by 356.27% between 1990 and 2019.
2001: Publication of "Building Better Global Economic BRICs"
In 2001, Jim O'Neill introduced the term BRIC in his publication, "Building Better Global Economic BRICs". This publication, written while O'Neill was the head of global economics research at Goldman Sachs, played a key role in popularizing the BRIC concept.
2001: BRIC Term Coined by Jim O'Neill
In 2001, Jim O'Neill, a British economist, coined the term BRIC to designate a group of emerging markets, which was later championed by Goldman Sachs. This term laid the foundation for the formation of the BRIC nations.
October 2005: Turkey's EU Membership Process Started
On 3 October 2005 Turkey's EU membership process started.
June 2009: Full-Scale Diplomatic Meeting in Yekaterinburg
A full-scale diplomatic meeting was held in Yekaterinburg, Russia, in June 2009, further solidifying the cooperation among the BRIC nations.
June 2009: First Formal BRIC Summit in Yekaterinburg
In June 2009, the first formal BRIC summit commenced in Yekaterinburg, with the leaders of Brazil, Russia, India, and China in attendance. The summit focused on improving the global economic situation and reforming financial institutions, also discussing future cooperation and the involvement of developing countries in global affairs.
2009: BRIC Nations Announce Need for New Global Reserve Currency
Following the 2009 Yekaterinburg summit, the BRIC nations announced the need for a new global reserve currency that would be "diverse, stable and predictable". This announcement sparked a fall in the value of the US dollar against other major currencies.
April 2010: South Africa Attends 2nd BRIC Summit as Guest
In April 2010, South Africa was invited and attended the 2nd BRIC summit as a guest, marking the initial steps towards its inclusion in the group.
September 2010: South Africa Joins BRIC, Renamed BRICS
In September 2010, South Africa formally joined the organization, which was then renamed BRICS to reflect its inclusion. This marked a significant expansion of the group's influence.
December 2010: South Africa Officially Becomes a BRICS Member
On December 24, 2010, South Africa officially became a member nation of BRIC after being formally invited by China and subsequently accepted by other BRIC countries. The group was renamed BRICS to represent the addition of South Africa.
2010: Second BRIC Summit
In 2010, Before South Africa's admission, two BRIC summits were held.
2011: Jacob Zuma Represents South Africa at BRICS Summit
At the 2011 BRICS summit in Sanya, China, South African president Jacob Zuma represented the country as a full member for the first time.
2011: South Africa Attends 3rd BRICS Summit as Full Member
In 2011, South Africa attended the 3rd BRICS summit as a full member, solidifying its integration into the group.
2011: Annual Joint Statistical Publication by BRICS National Institutes of Statistics
Since 2011, the National Institutes of Statistics of the BRICS group of countries have been producing an annual joint statistical publication to compare methodologies and statistical results, serving as a single data platform for the participating countries.
2011: First Five-Member BRICS Summit
The first five-member BRICS summit was held in 2011 in China.
June 2012: BRICS Nations Pledge $75 Billion to IMF
In June 2012, the BRICS nations pledged $75 billion to boost the lending power of the International Monetary Fund (IMF), conditional on IMF voting reforms.
2012: Planning of BRICS Cable
Since 2012, the BRICS group of countries had been planning an optical fiber submarine communications cable system to carry telecommunications between the BRICS countries, known as the BRICS Cable.
March 2013: BRICS Countries Agree to Create New Development Bank
During the fifth BRICS summit in Durban in March 2013, the member countries agreed to create a global financial institution to cooperate with the western-dominated IMF and World Bank, planning to set up this New Development Bank by 2014.
October 2013: Russia Announces Plan to Create $100 Billion Currency Stabilization Fund
In October 2013, Russia's Finance Minister Anton Siluanov announced that creating a $100 billion fund designated to steady currency markets would be undertaken in early 2014.
March 2014: Confirmation of Currency Fund Creation by March 2014
In March 2014, the Brazilian finance minister, Guido Mantega, confirmed that the $100 billion currency stabilization fund would be created by March 2014.
April 2014: Delay in Setting Up Currency Reserve Pool and Development Bank
By April 2014, the currency reserve pool and development bank had not yet been set up, and the date was rescheduled to 2015.
July 2014: BRICS Members Sign Agreement to Create New Development Bank
In July 2014, during the sixth BRICS summit in Fortaleza, the BRICS members signed a document to create the US$100 billion New Development Bank and a reserve currency pool worth over another US$100 billion. Documents on cooperation between BRICS export credit agencies and an agreement of cooperation on innovation were also signed.
July 2014: Treaty for BRICS Contingent Reserve Arrangement Signed
The legal basis for the BRICS Contingent Reserve Arrangement (CRA) is formed by the Treaty for the Establishment of a BRICS Contingent Reserve Arrangement, signed in Fortaleza in July 2014.
2014: Low Public Awareness of BRICS
In 2014, results of an opinion poll of 1881 respondents resulted in only 4% knowing what BRICS stood for.
2014: BRICS Financial Architecture Treaty Signed
In 2014, the New Development Bank (NDB) and the Contingent Reserve Arrangement (CRA) were signed into a treaty.
2014: Planned Setup of New Development Bank
The BRICS nations planned to set up the New Development Bank by 2014, aiming to create a global financial institution to cooperate with the IMF and World Bank.
July 2015: BRICS Contingent Reserve Arrangement Enters into Force
The BRICS Contingent Reserve Arrangement (CRA) entered into force upon ratification by all BRICS states, announced at the 7th BRICS summit in July 2015.
September 2015: Inaugural Meetings of BRICS CRA Governing Council and Standing Committee
With its inaugural meetings of the BRICS CRA Governing Council and Standing Committee, held on 4 September 2015, in Ankara, Turkey.
2015: BRICS Payment System Consultations Initiated
At the 2015 BRICS summit in Russia, ministers from the BRICS states initiated consultations for a payment system that would be an alternative to the SWIFT system.
2015: BRICS Financial Architecture Becomes Active
In 2015, the New Development Bank (NDB) and the Contingent Reserve Arrangement (CRA) became active.
2015: Construction of BRICS Cable Abandoned
In 2015, the construction of the proposed BRICS Cable network was abandoned, possibly due to cost.
2015: Rescheduled Date for Currency Reserve Pool and Development Bank
In April 2014, the date for setting up the currency reserve pool and development bank was rescheduled to 2015.
2017: BRICS accounted for global investment inflows
In 2017 BRICS accounted for 19% of global investment inflows.
March 2019: Turkey's EU Membership Process Frozen
On 13 March 2019 Turkey's EU membership process was frozen.
August 2019: BRICS Countries Sign Letter of Intent for ICT Cooperation
In August 2019, the communications ministers of the BRICS countries signed a letter of intent to cooperate in the Information and Communication Technology sector at a meeting in Brasília, Brazil.
2019: Low Public Awareness of BRICS
In 2019 only 3% of 1849 respondents knew what the acronym BRICS stood for.
2019: Brazil Holds BRICS Presidency Pro Tempore
In 2019, the group at each summit elects one of the heads of state of the component countries to serve as President Pro Tempore of the BRICS, and the position was held by the president of Brazil.
2019: Economy of BRICS Continuing Growth
The economy of the BRICS has risen by 356.27% between 1990 and 2019.
2019: Priorities of the Brazilian Pro Tempore Presidency
The priorities of the Brazilian Pro Tempore Presidency for 2019 are strengthening cooperation in science, technology, and innovation; enhancing cooperation on the digital economy; invigorating cooperation on the fight against transnational crime, especially organized crime, money laundering, and drug trafficking; and rapprochement between the New Development Bank (NDB) and the BRICS Business Council.
2020: NDB Projects Underway
As of 2020, the New Development Bank (NDB) had 53 projects underway worth around $15 billion.
2020: BRICS summit held via video-conference
In 2020, the BRICS summits were held via video-conference due to the COVID-19 pandemic.
2020: Sino-Indian Border Dispute as Bilateral Non-Issue for BRICS
In 2020, the Sino-Indian border dispute, specifically during the Galwan Valley clash, was considered a bilateral non-issue for BRICS.
2020: Top Investors in BRICS Bloc
In 2020, the United States and United Kingdom have been the top two investors in the bloc in terms of FDI stock.
2020: 2020 BRICS Summit held Virtually
The 2020 BRICS summit was held virtually in St. Petersburg, Russia, and discussed how to handle the COVID-19 pandemic and how to fix the multilateral system via reforms.
2021: Calls for COVID-19 Origin Investigation at 13th BRICS Summit
During the 13th BRICS summit in 2021, Indian Prime Minister Narendra Modi called for a transparent investigation into the origins of COVID-19, while Chinese leader Xi Jinping urged BRICS countries to "oppose politicisation" of the process.
2021: New Members Join NDB
In 2021, Bangladesh, Egypt, the United Arab Emirates and Uruguay joined the NDB.
2021: BRICS summit held via video-conference
In 2021, the BRICS summits were held via video-conference due to the COVID-19 pandemic.
2021: O'Neill Criticizes BRICS' Unity in Project Syndicate Article
In a 2021 article for Project Syndicate, Jim O'Neill criticized the BRICS countries, stating they "have so far proven incapable of uniting as a meaningful global force."
September 2022: Turkey to Apply for SCO Membership
In September 2022, Turkish President Recep Tayyip Erdoğan announced that his country would apply for membership in the Shanghai Cooperation Organisation.
2022: Argentina Formally Applied for BRICS Membership
In 2022, Argentina formally applied for BRICS membership under Alberto Fernández's government.
2022: BRICS generated global economic output
In 2022, BRICS generated close to 32% of global economic output (GDP PPP). The expanded BRICS+ generated 36% of global GDP.
2022: BRICS+ Share of World GDP
In 2022, BRICS+ share of world GDP at purchasing power parity (PPP) is 35.6%.
2022: BRICS summit held via video-conference
In 2022, the BRICS summits were held via video-conference due to the COVID-19 pandemic.
May 2023: South Africa Announces Diplomatic Immunity for Putin
In May 2023, South Africa announced that it would grant diplomatic immunity to Vladimir Putin and other Russian officials to allow them to attend the 15th BRICS Summit, despite the ICC arrest warrant for Putin.
July 2023: Tufts University Study Challenges China-Dominated BRICS Portrayal
A multi-year study at Tufts University, released in July 2023, disputed the "common portrayal of BRICS as a China-dominated group primarily pursuing anti-U.S. agendas". The study asserted that BRICS countries connect around common development interests and seek a multipolar world order. It also noted that BRICS consolidation has transformed the group into a potent negotiation force that now challenges Washington's geopolitical and economic goals.
July 2023: BRICS Anti-Western Stance Unlikely
In July 2023, Alissa Wang from the BRICS Research Group, University of Toronto, presented her analysis that BRICS is unlikely to become anti-western due to its internal political diversity. She noted that the group is made up of three democracies and two non-democratic regimes, limiting the possibility of uniting on an anti-western stance. Wang also suggested that expanding BRICS could strengthen it economically but might negatively affect political jointness.
July 2023: Putin Announces Remote Participation in BRICS Summit
In July 2023, the Russian president announced that he would not personally attend the BRICS summit in Johannesburg, but would participate remotely online in all BRICS leaders' sessions.
August 2023: BRICS Challenge to World Order Destined to Failure, Claims Con Coughlin
After the August 2023 BRICS Summit, Con Coughlin, defense and foreign affairs editor at The Daily Telegraph, asserted that "the challenge BRICS presents to the established world order seems destined to failure". He accused the organization of being used by China to expand its global influence. Coughlin also highlighted internal contradictions, such as the China-India border dispute, and urged greater Western engagement with India as part of a new strategic alliance.
August 2023: Invitation to New Members
In August 2023, at the 15th BRICS Summit, South African President Cyril Ramaphosa announced that Argentina, Egypt, Ethiopia, Iran, Saudi Arabia, and the United Arab Emirates had been invited to join the organization on 1 January 2024.
August 2023: Invitation to New Countries to Join BRICS
In August 2023, at the 15th BRICS summit, South African President Cyril Ramaphosa announced that Argentina, Egypt, Ethiopia, Iran, Saudi Arabia, and the United Arab Emirates had been invited to join the bloc, with full membership scheduled for January 1, 2024.
November 2023: Pakistan Applies for BRICS Membership
In November 2023, Pakistan applied for membership in BRICS; Russian Deputy Prime Minister supported Pakistan's request, however support for Pakistan among BRICS has not been unanimous.
November 2023: Argentine Election Leads to Change in BRICS Membership Plans
In November 2023, the Argentine general election resulted in Javier Milei becoming president, who had pledged to withdraw the country's membership application to BRICS.
December 2023: Gallup Poll Reveals Global Perceptions of BRICS
According to a Gallup International poll conducted between October and December 2023, nearly one-third of people worldwide had never heard of BRICS. However, Western countries showed more negative attitudes toward the alliance compared to other regions. The most negative views were in Sweden (45%), Spain (30%), the USA (30%), Portugal (29%), and Ukraine (29%), while the most positive attitudes were in Russia (38%), Iran (37%), Nigeria (36%), Saudi Arabia (33%), and Malaysia (32%). In India, 36% had a positive view of BRICS, while 29% had a negative view.
December 2023: BRICS De-dollarization Efforts Challenge US Interests
In December 2023, the Atlantic Council's Thomas Hill noted that the de-dollarization efforts within BRICS, especially in North Africa, pose a significant challenge to US interests. He warned that replacing the dollar could limit the US's ability to manage deficits, maintain low interest rates, and undermine the effectiveness of US sanctions and SWIFT.
December 2023: Argentina Declines BRICS Membership Offer
On 30 December 2023, the new government of Argentina officially declined the offer to join the BRICS bloc due to the new government's different foreign policy.
December 2023: Argentina Confirms Withdrawal from BRICS Membership
On November 30, 2023, Argentina's incoming Foreign Minister Diana Mondino confirmed that Argentina would not join the BRICS. On December 29, 2023, the Government of Argentina sent a letter to all BRICS leaders to officially announce its withdrawal from the application process.
2023: Feasibility Study for Common Currency
At the 2023 BRICS summit in South Africa, BRICS countries committed to study the feasibility of a new common currency or similar.
2023: Algeria Applies for BRICS Membership
In 2023 Algeria previously applied for membership.
2023: France's Bid to Join BRICS Summit Rejected
In 2023, French President Emmanuel Macron sought to attend a BRICS summit as the first Western leader. However, Russia's Foreign Ministry deemed it "unsuitable," stating that France's participation would not help BRICS achieve its goals for developing countries in a multipolar world.
2023: Russia Proposes Joint Research Station on Space Station
In 2023, Russia proposed that the other BRICS members could build a joint research station on its space station, enhancing space cooperation among the member states.
2023: BRICS as an Alternative if Europe Fails
In 2023, following the announcement of the expansion of BRICS, German diplomat Reinhard Butikofer suggested that developing countries might turn to BRICS "if Europe fails to prove its reliability and credibility as a fair partner."
2023: BRICS Condemnation of the Gaza War
In 2023, one of the first political statements made by BRICS involved South African President Cyril Ramaphosa, the chair of BRICS at the time, condemning the Gaza war.
2023: US Downplays BRICS as a Geopolitical Rival
In 2023, the White House Press Secretary and National Security Advisor indicated that BRICS is not seen as a geopolitical rival. Treasury Secretary Janet Yellen largely dismissed BRICS efforts at de-dollarization, and the US National Security Advisor stated that the expansion of BRICS does not present a "serious challenge".
2023: Indonesia's Bid Gets Green Light
Jakarta's bid to join BRICS got the green light from the bloc in 2023.
January 2024: Scheduled Date for Full Membership
Full membership for new countries invited to join BRICS in August 2023 was scheduled to take effect on January 1, 2024.
January 2024: BRICS Membership Expands
In January 2024, Egypt, Ethiopia, Iran, and the United Arab Emirates joined the bloc, increasing BRICS membership from five to nine countries, while Saudi Arabia delayed its membership.
January 2024: Expansion of BRICS Membership
On 1 January 2024, Argentina, Egypt, Ethiopia, Iran, Saudi Arabia, and the United Arab Emirates had been invited to join the organization.
January 2024: New Countries Officially Join BRICS
On 1 January 2024, Egypt, United Arab Emirates, Ethiopia and Iran officially joined the bloc.
April 2024: Saudi Arabia Still Considering BRICS Membership
As of April 2024, Saudi Arabia was still considering whether to join BRICS after delaying its membership at the start of the year.
September 2024: Algeria Rejects BRICS Membership
In September 2024, Algeria rejected BRICS membership, making Algeria the second country after Argentina to decline and stop its application.
September 2024: Turkey Applies to Join BRICS
On 2 September 2024, Turkey officially applied to join the bloc.
October 2024: China's power distribution in BRICS
In October 2024 Christian E. Rieck writes that China's relative power distribution in BRICS is "4+1".
October 2024: BRICS as a Non-Confrontational and Constructive Framework
In October 2024, a Russian Foreign Ministry Spokeswoman stated that the "BRICS framework is non-confrontational and constructive" and "a viable alternative to a world living by someone else's, alien rules". The inclusion of new members has strengthened BRICS' representation of the "Global South and East – or the Global Majority". The applications from numerous countries further highlight BRICS' growing role.
October 2024: President Zelensky Calls Kazan Summit a Failure
In an October 2024 interview with The Times of India, President Zelensky criticized the Kazan summit as a "total failure" and disapproved of the UN Secretary-General's presence. The UN Secretary-General's office defended his participation, highlighting BRICS' role "in boosting global co-operation".
October 2024: Additional Countries Invited to Participate as "Partner Countries"
On October 24, 2024, Algeria, Belarus, Bolivia, Cuba, Indonesia, Kazakhstan, Malaysia, Nigeria, Thailand, Turkey, Uganda, Uzbekistan and Vietnam were invited to participate as "partner countries", allowing them to engage with and benefit from BRICS initiatives.
November 2024: The pivot of a number of countries in the Global South
In November 2024, Reinhold Brender writes that the pivot of a number of countries in the Global South should be a "wake-up call" for the EU.
November 2024: Trump Threatens 100% Tariff on Countries Pursuing BRICS Currency
In November 2024, then United States president-elect Donald Trump threatened a 100% United States tariff on countries that pursued a BRICS currency or moved to favor another currency instead of the U.S. dollar.
December 2024: Reserve Bank of India Governor on De-dollarisation
In December 2024, the Governor of the Reserve Bank of India, Shaktikanta Das, stated that de-dollarisation for India was merely a part of "derisking" Indian trade and reducing dependence on any one currency, as this could become "problematic". While a BRICS currency had been suggested by a member state, no specific decisions were made. He also drew a comparison with the Euro, noting that Eurozone countries are in close proximity, which is not the case for BRICS. This statement was in response to a question regarding President-elect Trump's warning about tariffs.
2024: BRICS combined GDP and foreign reserves
As of 2024, the five initial BRICS member states had a combined nominal GDP of US$28 trillion (about 27% of the gross world product), a total GDP (PPP) of around US$65 trillion (35% of global GDP PPP), and an estimated US$5.2 trillion in combined foreign reserves.
2024: NDB Approves Projects
By 2024 the New Development Bank (NDB) had approved more than $32 billion for 96 projects.
2024: Russia Holds BRICS Presidency Pro Tempore
In 2024, BRICS President Pro Tempore was from Russia and their goals were investing in BRICS countries to strengthen their economies, cooperating in the energy and environmental industries, helping with young children, and coming up with resolutions on migration and peacekeeping.
2024: O'Neill Views BRICS as Serving No Real Purpose
In 2024, Jim O'Neill expressed his view that the BRICS grouping serves no real purpose beyond generating symbolic gestures and lofty rhetoric.
2024: Introduction of Partner States Category
In 2024, a new category for integration of prospective members, "Partner states", was introduced at the 16th BRICS summit in Kazan, the Russian Federation.
2024: First Nine-Member BRICS Summit
In 2024, the first nine-member BRICS summit was held in Russia.
2024: Joint Statement by BRICS Foreign Ministers Slamming Israel's Attacks in Gaza
In 2024, the foreign ministers of BRICS issued a joint statement criticizing Israel's attacks in Gaza.
2024: BRICS+ Oil Production and Agricultural Contribution
In 2024, the informality rate was 62% while the labour force participation was 60.8%. BRICS+ oil production is almost 30% of global oil output. BRICS contribute to 45% of the global agricultural products. BRICS countries produce 42% of the world's wheat, 52% of rice, and 46% of soybeans.
2024: Indonesia Asks to Join After Presidential Election
Indonesia asked to join BRICS following the presidential election held in 2024.
January 2025: Unconfirmed BRICS Observer Partner States
As of mid-January 2025, three more countries had been invited to join the BRICS bloc as observer partner states but have not yet confirmed that status.
January 2025: Nine States Ensured Partnership Status
By January 2025, nine states ensured their partnership status within BRICS, while Indonesia acceded into the core membership.
January 2025: BRICS Useful for Russia to Escape Diplomatic Isolation, Says Joseph Nye
In January 2025, Joseph Nye wrote that BRICS is certainly useful to Russia "as a means of escaping diplomatic isolation", and the same applies to Iran. Nye also suggested that the expansion of BRICS could lead to more "intra-organizational rivalries", potentially limiting the group's effectiveness.
January 2025: Indonesia Joins BRICS as Full Member
Indonesia was originally intended to be an observer partner state but instead opted for full membership, which went into effect in January 2025.
January 2025: Indonesia Officially Joins BRICS
On January 6, 2025, Indonesia officially joined BRICS as a full member, making it the first Southeast Asian state to join the bloc, as well as the 10th member of BRICS.
January 2025: Partnerships take effect
The partnerships that were announced in the previous year went into effect in January 2025. Nigeria joined the partnership countries on January 17th.
February 2025: Trump Declares "BRICS is dead"
In February 2025, in a press briefing, Donald Trump stated that "BRICS is dead". He went on to say that BRICS is silent following his "150%" tariff threat.
2025: Brazil to Hold BRICS Presidency Pro Tempore
Brazil has the next Pro Tempore Presidency in 2025.
2025: Indonesia Joins BRICS
In early 2025, Indonesia officially joined BRICS as a member state, becoming the first Southeast Asian member and further expanding the group's global reach.
2045: BRICS+ Economies to Overtake G7
According to the Economist Intelligence Unit, the collective size of the economies of BRICS+ will overtake G7 after 2045.
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