Question

Trace the reason for the formation of BRICS and write its objectives.

Answer 1

To provide self-owned and self-managed organisations to carry out developmental and economical plans in its member nations.
Objectives of BRICS

1. To achieve regional development
2. It acts as a bridge between developed and developing countries
3. To contribute extensively to development of humanity
4. To establish a more equitable and fair world
5. Boost intra BRICS trade in their local currencies to increase trade cooperation and cope with the current international financial crisis.
6. To promote the technological information exchange among the member states
7. To enhance inclusive economic growth that will lead to an increase in the creation of jobs, fight against poverty and accelerate the economic transformation of members.