The 17th BRICS Summit in Rio de Janeiro is set to make history as it welcomes 11 member countries and 10 partner nations under the new BRICS+ banner. What started in 2006 as a four-nation bloc (Brazil, Russia, India, China) has now grown to include Ethiopia, Egypt, Iran, Indonesia, Saudi Arabia, and the UAE. Southeast Asia also joins the party with Indonesia and Vietnam as partner countries. 🌏
Why This Matters 💡
BRICS+ now represents over 40% of the world’s population, oil production, and global trade. For young professionals and entrepreneurs, this means bigger markets, fresh energy resources, and investment opportunities. The group aims to boost cooperation among Global South nations, challenging traditional economic power structures. 📈
Trade Wins & Supply Chains 🔄
No formal trade deals? No problem! BRICS+ members have still boosted intra-group trade by 7x since 2002, hitting $4 trillion in 2021. This growth—faster than non-BRICS countries—signals a shift toward self-reliant supply chains and diversified partnerships. For students and academics, it’s a case study in how developing economies can rewrite the rules. 📚
What’s Next? 🌱
With new members like Saudi Arabia and Egypt, BRICS+ is poised to reshape energy markets and tech innovation. For travelers and culture enthusiasts, this expansion also highlights untapped destinations and cross-border collaborations. Stay tuned—this bloc is just getting started. ✨
