2. BRICS stands for Brazil, Russia, China, and
South Africa.
Came into existence in 2001 as BRICS nation
It is the fastest growing and emerging economics
BRICS is the international political organization
of leading emerging economies. Its five members
are all developing industrialized countries
The term BRICS was used for the first time in the
Goldman Sachs report 2003
3. The BRIC became a mechanism through which the
countries can exchange opinions, seek convergence,
identify areas of cooperation and influence the
international agenda.
Officially it was admitted as a BRIC nation on 24
December 2010
With the entrance of South Africa, at the 3rd BRICS
Summit, in April 2011, the BRIC became BRICS, with
capital "S".
3
4. Vast Land Area
Developing Economy Globally
Friendly Trade Relations
Challenges Related To Economic And Social Integration
Desire To Make The International Order More Representative
Possibility Of Cooperation In Many Areas
5. To achieve regional development
To remove trade barriers
Economic development
Optimum use of resources
Building relationship
6.
7. KEY ADVANTAGES :
One of the fastest growing economies in the last centuries
Brazilian economy becoming less dependent on imports
Extremely rich in resources such as coffee, sugarcane, crude oil
and iron etc.
Focus on equitable development has resulted in significant
poverty reduction.
CHALLENGES FOR THE FUTURE:
Overburdened and ineffective judicial system.
Industrial output is weak
8. KEY ADVANTAGES:
Russia has capability in high-technology sectors
Accounts for around 20% of the world’s oil and gas reserves
fall in the number of people living below the poverty line
CHALLENGES FOR FUTURE
Labour shortages and poorly developed infrastructure
Corruption
9. KEY ADVANTAGES
1.15 billion people
2nd largest labour force
Approximately 2.5 million college graduates per year
CHALLENGES FOR THE FUTURE
Improving basic educational achievement
Improving infrastructure and electrical capacity
Expanding technology industry
10. KEY ADVANTAGES
Broad expansion of educational achievement
Rapid economic growth
Third largest country in land size
CHALLENGES FOR THE FUTURE
support to rural areas and less-developed regions
Bank of China sees inflation as a bigger risk
Need to improve the investment
11. KEYADVANTAGE
The South African economy is now the 23rd largest in the
world
Inflation is now below 5% and falling.
25% of goods produced in South Africa are for export
CHALLENGES FOR THE FUTURE:
The economy is growing but not fast enough
Lack of skills, particularly in IT.
48% of the population is living below the poverty line
12. 12
CONTRIBUTION TO GDP
26 % of Earth's land area
42 % of world's population
46% of world’s work force
19 % of world s nominal GDP
17. Trade between South Africa & Rest of BRICS
Source based on UN COMTRADE and http://wits.worldbank.org/wits/
18. To support growth on the continent, notably during the recent
financial crisis
South Africa’s financial market development and
sophistication
The World Economic Forum’s 2011/12 Global
Competitiveness Index displayed a high level of confidence in
South Africa’s financial market development, ranking the
country in fourth place globally on this measure.
Among BRICS members, South African exports to China
grew the most, at 46%, while exports to India grew by 20%, to
Brazil by 14% and by 7% to Russia.
19. Manufacturing, services and
agriculture
Energy, infrastructure, mining
beneficiation and healthcare
Construction and water provision
The green economy and tourism
20. India is also expected to grow faster than China after
2020
India- Characterized by a low share of consumption
and high savings.
Rising incomes in the BRICs nations will create a
new middle consumer class
Featured as- “Roadmap For Contribution”
Important drivers for growth in the global economy.
Expansion of their consumer markets and the rise of
multinational companies
the establishment of a “positive multipolarity" in
international affairs
21. The BRICS were seen by Brazilian diplomats and
scholars as a useful mechanism to project Brazil
internationally in a rapidly changing global
landscape.
Lost speed and altitude over the past two years
Chances of Intra Trade Disputes are high
Difficulties of articulating their conflicting interests
in some sort of common vision became more evident.
Different viewpoints and influence in the
international arena.
22. BRICS will remain a useful mirror
Brazilian comparisons with China and India in
regards to economic factors
overcoming current obstacles to higher
sustainable growth
drive productivity and competitiveness in an
increasingly integrated world economy
a central role in dealing with global challenges
and threats.
