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Russia assumed chairmanship of BRICS

April 1,2015

Russia assumed chairmanship of BRICS , reported RT. BRICS is an economic block comprising five major economies (Brazil, Russia, India, China and South Africa ) which,together,are estimated to constitute 30 percent of global GDP.

BRICS is working towards fostering financial institution that could be an alternative to the erstwhile powerful Bretton woods institution – IMF- which dominated the world for more than half a century.

BRICS Summit is scheduled to take place between July 8-9 in Southern Russian town of Ufa

President Vladmit Putin vowed “Russia’s Presidency is committed to taking the BRICS partnership to a new, higher level”



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