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The term “BRIC” was firstly used in Goldman Sachs Report of 2003 to define four economies with the most rapidly growing GDP and capitalization of stock market – Brazil, Russia, India and China.
BRIC includes the leading states with steadily growing role in the international politics, economy and finance.
Under the conditions of emerging multi-polar international order it is impossible to effectively solve problems of global security and steady development without the BRIC countries. It is fundamentally important that interaction between BRIC countries is based on the common understanding of the fact that there is no alternative to the supremacy of the law in international relations.
The political dialog within BRIC started in September 2006 at the initiative of Vladimir Putin, then President of the Russian Federation. The first Meeting of the BRIC Ministers of Foreign Affairs was held on the margins of the UN General Assembly in New-York. Starting from 2006 there were held 4 meetings of BRIC Ministers of Foreign Affairs, one meeting of BRIC Ministers of Finance, mini-summit of the Leaders of the BRIC countries and Governments (Japan, July 9, 2008). Presently the full-scale summit in Russia is being prepared. There is also interaction among municipal authorities, and currently the process of establishing the dialog between the BRIC Security Councils and between the BRIC Competition Authorities is becoming more active. |
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