BRICS is created by emerging the national economies of five countries namely Brazil, Russia, India, China and South Africa. The BRICS Forum, an independent international organization encouraging commercial, political and cultural cooperation between the BRICS nations
Current Leader of BRICS member of State
Michel Temer, President, Brazil
Vladimir Putin, President, Russia
Narendra Modi, Prime Minister, India
Xi Jingping, President, China
Jacob Zuma, President, South Africa
What is BRICS CCI
The BRICS Chamber of Commerce and Industry is a parent organization which promotes commerce industry in the BRICS nations. The Chamber, founded in 2012, with the effort of eminent professionals and entrepreneurs is a non-for-profit and non-governmental organization.
What BRICS CCI is into
- Promote entrepreneurship and encourage young entrepreneurs to establish and grow their business across national boundaries.
- Build a credible repository of data and information that could be used by members.
- Build database credible business partners across different geographies and industry verticals.
- Conduct tropical research that could be used by members to understand business relevant issues in enough details to conduct a successful business in that space.
- Build social and cultural exchange between interested nations, by promoting business around local art and culture.
- Provide advisory services – FREE OF COST – to our members on legal as well as other business critical services.
- Promote business interactions amongst members by organizing regular visits and other forms of interaction.
Currently, there are two components that make up the financial architecture of BRICS, namely, the New Development Bank (NDB) and the Contingent Reserve Arrangement (CRA). Both of these components were signed into treaty in 2014 and became active in 2015.
In 2014 the company signed a bond with two of the components which are financial architectures of BRICS which was then activated in 2015
- New Development Bank (NDB)
- Contingent Reserve Arrangement (CRA)
New Development Bank
The New Development Bank (NDB), formerly referred to as the BRICS Development Bank is a Multilateral Development Bank operated by the BRICS states. The bank’s primary focus of lending will be infrastructure projects with authorized lending of up to $34 billion annually. South Africa will be the African Headquarters of the Bank named the “New Development Bank Africa Regional Centre”
The bank will have starting capital of $50 billion, with capital increased to $100 billion over time. Brazil, Russia, India, China and South Africa will initially contribute $10 billion each to bring the total to $50 billion.
Upcoming Projects of BRICS
Since 2009, the BRICS nations have met annually at formal summits. China will host the 9th BRICS summit in Xiamen in September 2017.