BRICS Summit -2017 : Main Highlights

BRICS Summit -2017 : Main Highlights

• BRICS is comprised of China, Brazil, Russia, India and South Africa.
• The first BRIC Foreign Ministers’ Meeting was held in 2006 among China, Brazil, Russia and India.
• The meeting was held for a general debate of the 61st session of the United Nations General Assembly, which marked the beginning for BRIC cooperation.
• In 2009, the first BRIC Summit was held in Yekaterinburg, Russia. Since then, the Summit has become an annual event. To date, 8 Summits have been held.
• In December 2010, China, as the Chair, invited South Africa to join BRIC and attend the Summit in Sanya, China. BRIC officially enlarged to include 5 countries and the acronym changed into BRICS.
• Together, they account for 26.46% of world land area, 42.58% of world population, 13.24% of World Bank voting power and 14.91% of IMF quota shares. According to IMF’s estimates, BRICS countries generated 22.53% of the world GDP in 2015 and has contributed more than 50% of world economic growth during the last 10 years.

Logo of 2017 summit:

The main component of the 2017 BRICS Summit Logo resembles both full sails and a rotating earth, painted in 5 colors representing the 5 BRICS countries. The symbolism is two-fold: BRICS countries breaking the waves in the same boat towards a brighter future; and BRICS playing an important role in global political and economical affairs.