The BRICS Grouping at 20 Years Old

Source: Bangkok Post | Original Published At: 2026-09-10 18:01:00 UTC

Key Points

• BRICS marked 20 years since the first meeting of the foreign ministers of Brazil, Russia, India, and China, with the first BRIC summit held in 2009 and South Africa joining in 2011.
• The grouping has expanded to include Egypt, Ethiopia, Indonesia, Iran, Saudi Arabia, and the United Arab Emirates, and also has 10 partner countries.
• BRICS accounts for nearly half of the world's population and about 40% of global GDP in purchasing-power parity terms, compared with less than 10% of population and 30% of GDP for the G7.
• The New Development Bank is described as the first multilateral development bank with global scope led solely by emerging economies, with founding BRICS members holding equal shares and voting rights.
• BRICS is pursuing local-currency settlement, interoperable payment systems, and alternative cross-border payment infrastructure to strengthen resilience against financial shocks.
• The article argues that BRICS has exceeded expectations by broadening space for emerging economies, strengthening South-South cooperation, and creating pressure to reform existing international institutions.