Brics Summit 2016 Moving Towards Multilateral Expansion
The Times Of Africa|October 2016

BUILDING RESPONSIVE, INCLUSIVE & COLLECTIVE SOLUTIONS— that is how they constructed it! The acronym BRICS was coined in 2001, by then-chairman of Goldman Sachs Asset Management, Jim O'Neill, exhibiting the world’s most recent industrialized countries to become the greatest group of economies of all time. The idea was further pushed when the leaders of Russia, India and China gathered in 2006 for the execution. Then it finally became a reality in June 2009, when the leaders of the Federative Republic of Brazil, the Russian Federation, the Republic of India and the People’s Republic of China in Ekaterinburg.

Brics Summit 2016 Moving Towards Multilateral Expansion

For the Present and Future

It was then and it is now. After 8 years, now India takes the initiative to host the BRICS Summit the second time in Panaji, Goa. The summit will take place on the 15th and 16th October, 2016. However, there are series of events that complement the summit which have begun from February and will last till December, 2016. Afghanistan and Maldives are the guest countries that have also been invited for the summit. These countries are a part of the BIMSTEC (Bay of Bengal Initiative for Multi-Sectorial Technical and Economic Co-operation). The now BRICS was then just BRIC, it was South Africa who joined the rest of the four in 2010. Therefore, the 3rd summit that was held in 2011 was inclusive of South Africa as the fifth member of the BRICS.

The Vision is to Expand the Multilateral Trade

Diese Geschichte stammt aus der October 2016-Ausgabe von The Times Of Africa.

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Diese Geschichte stammt aus der October 2016-Ausgabe von The Times Of Africa.

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