Professor Maurice Okoli
Introduction
Ultimately, BRICS (Brazil, Russia, India, China and South Africa) has established itself as an informal association pursuing a comprehensive and multi-dimensional cooperation. It has also, in the course of its operations, created the platform for discussing important topics relating to economic growth, developing trade and economic exchanges, ensuring security as well as promoting education and culture. According to several previous summit reports, the economic power is shifting from the West to the Global South. One of the landmarked achievements was the ascension of three African countries: Ethiopia and Egypt (Jan. 2024) and South Africa (2010). Russia is chairing the association this year. The main event of 2024 for BRICS will be the summit, which will be held in Kazan in October.
Under Russia’s chairmanship, integrating more new members into BRICS has been suspended, although the ‘strategic expansion’ was considered as an explicit testament to the association’s remarkable growing attraction and its commitment to reshaping the global economic landscape.
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