Posted: 17.01.2025 16:42:00

What it means to be BRICS partner

BRICS is an interstate informal association of the most dynamically developing large countries, and its abbreviation is formed from the first letters of the names of the first member states: Brazil, Russia, India, China, and South Africa

Currently, the association unties ten countries: Brazil, Russia, India, China, South Africa, Iran, the United Arab Emirates, Egypt, Ethiopia, and Indonesia (Saudi Arabia has not confirmed its BRICS membership).

BRICS primarily aims to develop economic co-operation, strengthen political ties between the participating countries and promote reforms in international financial institutions. Bilateral relations between its member states are based on non-interference, equality and mutual benefit. In modern conditions, BRICS is a platform for strengthening comprehensive co-operation between those countries of the world whose economies have high potential for growth.

At the BRICS summit in Russia in October 2024, a new category of states related to BRICS was proposed: eight countries, including Belarus, received the status of BRICS partners, which means a state country has the opportunity to participate in various events of the organisation, share experiences and best practices, as well as co-operate with other participating members. Partnership makes it possible to gain access to resources and technologies, as well as to take part in joint projects. In addition, partner status opens up additional opportunities for trade and investment. Partners can also join the BRICS final documents, thereby expanding their geographical coverage and strengthening the association’s position in international affairs.

Belarus' obtaining the status of a BRICS partner is another important step in the country's foreign economic policy, which opens up new horizons for economic development and strengthening existing political ties.