18 October 2016 Current Affairs: BRICS nations namely Brazil, Russia, India, China and South Africa on 16 October inked three agreements to boost the bilateral cooperation. The agreements were inked in Goa, India during the eighth BRICS summit.
The eight BRICS summit was held from 15 to 16 October under the theme Building Responsive, Inclusive and Collective Solutions.List of MoUs signed by BRICS Countries include
- MoU for Establishment of BRICS Agricultural Research Platform
- MoU on Mutual Cooperation between Diplomatic Academies
- Regulations on Customs Cooperation Committee of the BRICS
BRICS is the acronym for an association of five major emerging national economies, namely Brazil, Russia, India, China and South Africa. All five are G-20 members.
Originally the first four were grouped as BRIC, before the induction of South Africa in 2010The BRICS members are all leading developing or newly industrialized countries, but they are distinguished by their large, sometimes fast-growing economies and significant influence on regional affairs. As of 2015, the five BRICS countries represent over 3.6 billion people (about half of the world population).
All five members are in the top 25 of the world by population, and four are in the top 10.