BRICS Meeting 2012

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What is BRICS – BRICS Countries

The fourth BRICS Meeting is going to take place in India in the last week of March. The BRICS is a global governmental forum of the major emerging economies of the world and they are Brazil, Russia, India, China and South Africa. South Africa has been included as a member in the year 2010. Other than Russia, all the other members of the forum are considered as newly developed or developing nations.

Till 2012, the five member nations of the BRICS (Brazil, Russia, India, China, and South Africa) account for approximately 33% of the overall population of the globe. Their collective foreign exchange reserve amounts to around US$4 trillion and their joint nominal Gross Domestic Product amounts to US$13.6 trillion.

The members of BRICS are well-known all over the world because of their powerful economies and substantial control on the local and international matters.

Till the month of January 2012, three BRICS meetings took place, and every one of them was organized by a separate member nation. The fourth summit has been planned to be hosted in India in the end of March 2012.

About BRICS Meeting

The BRICS meeting is an annual meeting or symposium which discusses about different issues related to the global economy. India has started the homework to organize the BRICS Meeting or Summit to be held this year in New Delhi, the capital of India. A contest has also been thrown open for designing the logo of this summit.

Three years ago, the first BRICS meeting was hosted by the city of Yekaterinburg in Russia in the month of June 2009. Nevertheless, India is organizing the BRICS meeting for the first time.

In 2009, the Republic of South Africa was included into the consortium which was known as BRIC. This nomenclature was given by Jim O'Neill, the economic analyst of Goldman Sachs, to symbolize the four fastest-developing promising economies in the globe.

Once South Africa became a member of BRIC, the name of the consortium was changed to BRICS. This happened in the month of April 2011 when the BRIC meeting took place in Sanya, People’s Republic of China.

As stated by sources, India is getting ready to host this major event. Over the past two months, Somanahalli Mallaiah Krishna, the External Affairs Minister of the Union Government of India, tripped the capital cities of the member nations of the BRICS consortium to request the administrative heads of these nations to come and attend the meeting to be held in New Delhi.

Initial Meetings of BRICS

Meeting Date ParticipantsHost leaderHost nation Place
1st06/16/09BRICDmitry MedvedevRussia Yekaterinburg
2nd04/16/10BRICLuiz Inácio Lula da Silva BrazilBrasília
3rd04/14/11BRICSHu Jintao People's Republic of ChinaSanya
4thMarch 2012BRICSManmohan Singh IndiaNew Delhi

Tentative Date of BRICS 2012

The tentative date for the BRICS summit is March 29, 2012. The venue of the summit is yet to be announced.

Member Countries of BRICS

The member countries of BRICS along with their administrative heads (heads of state, heads of government, finance minister, and central bank governors) are mentioned below:

Russian FederationFederative Republic of Brazil People's Republic of ChinaRepublic of IndiaRepublic of South Africa
Prime Minister (Head of Government): Vladimir PutinPresident (Head of State and Government): Dilma RousseffPremier (Head of Government): Wen JiabaoPrime Minister (Head of Government): Manmohan SinghPresident (Head of State and Government): Jacob Zuma
President (Head of State): Dmitry MedvedevMinister of Finance: Guido MantegaPresident (Head of State): Hu JintaoPresident (Head of State): Pratibha PatilMinister of Finance: Pravin Gordhan
Minister of Finance: Anton SiluanovGovernor of Central Bank: Alexandre TombiniFinance Minister: Xie XurenFinance Minister: Pranab MukherjeeGovernor of Central Bank: Gill Marcus
Governor of Central Bank: Sergey Mikhaylovich Ignatyev Governor of Central Bank: Zhou XiaochuanGovernor of Central Bank: Duvvuri Subbarao Republic of South Africa

Last Upadated on 3/9/2012