BRICS

Mehmet Can ÇAM

Oğulcan AYDOKAN
Selim ÇİÇEK
 OUTLINE
1. What is BRICS?

2. BRICS Logo

3. Pillars of BRICS

4. History of BRICS

5. Major Achievements

6. Why Does BRICS Matter?

7. Membership Procedure

8. Governmental Body

9. Budget

10. Critics and Challenges

11. Case Study: War in Ukraine

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WHAT IS BRICS?

• Intergovernmental organization
• Formed by a group of states and has 9 members
• To challenge Wealthier Nations of North America and Western Europe
• To highlight investment opportunities
• Evolved into a cohesive geopolitical bloc
• Annual formal summits to coordinate multilateral policies

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LOGO

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3 PILLARS OF BRICS
FINANCIAL AND ECONOMIC
• Main engines of global economic growth
• Substantial with meetings of Ministers of Trade,
Industry, Agriculture, Energy and more
POLITICAL AND SECURITY
• Leading members of the UN, G20, WTO, NAM as
well as regional organizations such as African
Union and APEC
• Mutual respect, sovereing equality, consensus and
strengthened colloboration
CULTURAL AND PEOPLE-TO-PEOPLE
• Art, Film and Cultural exchanges
• The BRICS Film Festival, BRICS cultural events
and BRICS games
• The empowerment of women, girls and the youth
• Recovery of the tourism sector and more
opportunities for bussinesspeople
HISTORY OF
BRICS
MAJOR ACHIEVEMENTS

New Development Bank

Contingent Reserve Arrangement

BRICS Think Tanks Council

BRICS Women Bussines Alliance

BRICS Vaccine Research and Development

Centre

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WHY DOES BRICS MATTER?
• Major and Regional Powers
• Geopolitical Significance
• Economy and Population
• Financial Stability

GDP POPULATION 10
MEMBERSHIP
PROCEDURE
• Determined on the basis of
diplomatic negotiations and
consensus
Membership Criteria
• Economic potential
• Strategic importance
• Compliance with the BRICS goals

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 APPLİCATİON Application should be in line with the goals and principles of
the BRICS.

DİPLOMATİC
NEGOTİATİONS The economic potential and strategic importance of the
candidate country are evaluated. Ex: Support of China
about South Africa’s application

ACCEPTANCE BY
CONSENSUS Must be accepted unanimously by all existing members

OFFİCİAL
ANNOUNCEMENT Announcement is usually made during a BRICS summit.

APPLİCATİON AND ADMİSSİON PROCESS

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EXPANSİON POLİCY
Aims to increase the diversity and power of
representation within the group
in 2023;
• Argentina
• Egypt
• Ethiopia
• Iran
• Saudi Arabia
• the UAE
Global influence of BRICS and cooperation
between developing countries

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GOVERNMENTAL
BODY
• Flexible and informal layout
• No central secretariat or permanent
governing body
• Principles of equality and cooperation

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 BRICS: Governance and Coordination Mechanisms

BRICS Summit Presidency of the Term BRICS Ministerial Meetings

• Held every year • Annualy • Various ministerial-level meetings

• Highest decision-making • Responsible for the organization and • To improve cooperation
agenda-setting of the meetings
• Important political, economic and • In foreign affairs, finance, trade,
social issues • Ensures the equal participation health and other fields
• Set the strategic direction of BRICS • Assumption of a leadership role
• Promote cooperation

Working Groups and New Development Bank (NDB) Contingent Reserve

Committees Arrangement (CRA)
• Specializing in specific issues • Established ın 2015 • Foreign exchange reserve fund
• Encourage continuous cooperation • Financial cooperation and development • Protecting the financial stability
projects
• Energy, trade, science and • Coordinates liquidity
technology • Infrastructure and sustainable development
• Contributions of members
projects
• Develop joint projects and make 16
• Operation during financial crisis
suggestions • Equal representation
DECİSİON-MAKİNG MECHANİSM
New Development Bank (NDB)
Consensus Based Decision and Contingent Reserve
Making Arrangement (CRA)

• Consensus • Play an important role in BRICS

decision-making processes
• A veto from any member
• Equally represented
• Interests and opinions of all members
are taken into account • Unanimity
• Slow down the decision-making
process
• Helps balance diversity and different
interests in the group​

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BUDGET

The budget and financial structure of BRICS is

carried out through basic financial mechanisms
such as the New Development Bank (NDB)
and Contingent Reserve Arrangement (CRA).

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NEW DEVELOPMENT BANK (NDB)
Funding Sources Spending Areas

I. Starting Capital I. Infrastructure Projects

• 50 billion dollars • Large-scale infrastructure projects
• Equal contribution • Transportation, energy, water resources
and urban development
• Initially contributed $10 billion

II. Sustainable Development

• Environment-friendly and sustainable
development projects
II. Additional Contributions and
• Renewable energy projects
Increased Capital
• Environmental sustainability investments
• Capital can be increased
• New members III. Private Sector
• Economic growth and employment
• Financing to private sector projects

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CONTINGENT RESERVE ARRANGEMENT (CRA)
Funding Sources Spending Areas

I. Member Contributions I. Liquidity Support

• Fund totaling $100 billion • Provides liquidity support in cases of
financial crisis
• By each member's economic size
• Aims to protect short-term payments and
i. China: 41% foreign exchange reserves
II. Financial Stability
ii. Brazil: 18%
• A safeguard against possible economic
iii. India: 18% shocks

iv. Russia: 18%

v. South Africa: 5%​

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 GENERAL BUDGET AND EXPENDİTURE POLİCİES

Economic Research and Training and Health and

Cooperation Development Capacity Social
and (R&D) Building Programs
Development

Supports economic Provides funding for Training and capacity Investments are made in
cooperation and joint innovative technologies building programs are public health and social
development projects and scientific research. financed in member welfare programs​
between member countries.
countries.

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CRITICS AND CHALLENGES

I. Limited functionality of decision-making

mechanisms

II. Questions about economic issues and

sustainability

III. Diverging national interests as a result of

power asymmetries

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LIMITED FUNCTIONALITY OF DECISION-
MAKING MECHANISMS

✔ Limited Engagement With Civil Society

✔ Absence of Formal Decision-Making

Mechanisms

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 QUESTIONS ABOUT ECONOMIC ISSUES
AND SUSTAINABILITY

✔ Dependence on traditional forms of

energy
• Heavily reliant on coal, oil, and gas

✔ Climate action commitments

• Signatories of the Paris Agreement
• Classified as "insufficient" or "highly
insufficient"

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DIVERGING NATIONAL INTERESTS AS A
RESULT OF POWER ASYMMETRIES

✔ Divergent National Interests

✔ Power Asymmetry

• China and India are major global

players with significant population and
economic size
• South Africa and Brazil have more
regional influence
• Russia's role as a military power

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CASE STUDY
War in Ukraine

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RESPONSES OF THE BRICS

I. Has Not Issued A Unified Statement

II. Diverse Political And Economic

Interests

III. Differing Relationships With Russia

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 RUSSIA Russia supports the invasion of Ukraine, framing it as a
necessary action to protect Russian-speaking populations
and counter NATO expansion

CHINA China maintains a relatively neutral stance but leans towards

supporting Russia diplomatically. It calls for negotiations and
a peaceful resolution but avoids condemning Russia's
actions directly
INDIA India adopts a non-aligned position, calling for dialogue and
peace without explicitly condemning Russia

BRASIL President Jair Bolsonaro, Brazil maintained a neutral

stance, emphasizing diplomacy and peace

SOUTH AFRICA South Africa calls for dialogue and negotiation to resolve
the conflict, avoiding direct condemnation of Russia. It
stresses the need for a peaceful and diplomatic solution

Divergent Responses Among BRICS Members

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 TIMELINE OF DIVERGENCE

INİTİAL PHASE (START MİD-CONFLİCT LATER PHASE

OF CONFLİCT) PHASE (ONGOİNG)

- Divergence in responses as - Brazil votes to condemn - Continued divergence as

Brazil, India, and South Africa Russia on the UN Security BRICS countries maintain
Council, showcasing a varying levels of support for
express concerns about the
divergence in stance different approaches to
conflict's humanitarian impact compared to the abstentions addressing the conflict, and
and advocate for peaceful of other BRICS members. these differences in
resolution. approaches to conflict
- China engages in
- Russia and China show resolution and humanitarian
discussions with Russia on
support for their strategic aid have impeded the ability
potential strategies for the
of BRICS to work together as
interests in the region, conflict.
a unified entity.
leading to differing positions
within the BRICS block.

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 References
BBC. (2024, February 1). BRICS: What is the group and which countries have joined?. BBC News.

[Link]

BRICS 2023. (2023). [Link]

The BRICS and the financing mechanisms they created: Progress and shortcomings: Global Development Policy Center. Global

Development Policy Center The BRICS and the Financing Mechanisms They Created Progress and Shortcomings Comments.

(2021, October 26).

[Link]

BRICS portal. BRICS. (n.d.). [Link]

The BRICS: Origins, evolution & 2023 expansion. EFSAS. (2023, October).

[Link]

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 References
Brooks, R., Joseph Asunka, L. S., & Margaret McMillan, H. O. (2016, July 28). What the New Bank of BRICS is all about. Brookings.

[Link]

Expansion of BRICS: A quest for greater global influence?: Think tank: European parliament. Think Tank | European Parliament. (2024,

March 15). [Link]

Grabowski, M., & Voytsekhovska, V. (2024). Implications of the War in Ukraine in Terms of Inequalities in BRICS Countries:

A Complexity Approach. Polish Political Science Yearbook, 53(1), 125–143. [Link]

Peter Dizikes | MIT News. (2023, September 26). Q&A: The BRICS expansion and the global balance of power. MIT News |

Massachusetts Institute of Technology. [Link]

Petrone, F. (2021). The future of global governance after the pandemic crisis: What challenges will the BRICS face? International

Politics, 59(2), 244–259. [Link]

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