1. The BRIC countries refer to Brazil, Russia, India and South Africa. The English names of these five countries are Brazil, Russia, India, China and South Africa.
2. Moreover, the initial pronunciation of these five countries is very similar to that of BRICS. Because of their rapid development and increasing influence on the world, they are called BRICS countries.
3. The BRIC countries originally referred to China, Russia, India, Brazil and South Africa. The growth prospects of these five emerging market countries are promising. At the initiative of Russia, the four countries (excluding South Africa, the same below) held the first meeting of BRICS foreign ministers during the United Nations General Assembly in September 2006, and have held it every year since then.
4. In June 2009, the leaders of the four countries held their first meeting in Yekaterinburg, Russia. In December 2010, on the basis of consensus, the four countries formally recruited South Africa to join the mechanism, which is called BRICS in English.
5. Following the principles of openness and transparency, solidarity and mutual assistance, deepening cooperation and seeking common development, as well as the BRICS spirit of "openness, inclusiveness, cooperation and win-win", BRICS countries are committed to building closer, more comprehensive and stronger partnerships.