BRICS is an interstate association of countries that was founded in 2006 at the St. Petersburg
Economic Forum. At first it was called BRIC: the acronym was formed by the first letters of the
names of the joining countries — Brazil, Russia, India and China. In 2011, South Africa joined
the group. On 1 January 2024, the following countries accepted the invitation to join the
BRICS union: Egypt, Ethiopia, Iran, Saudi Arabia, and the United Arab Emirates.
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