BRICS

BRICS is an intergovernmental organization comprising ten countries: Brazil, China, South Africa, Egypt, Ethiopia, India, Indonesia, Iran, Russia, and the United Arab Emirates. Its conceptual origins were articulated by Russian foreign minister Yevgeny Primakov in 1998, and can be traced to informal forums and dialogue groups such as RIC and IBSA. BRIC was originally a term coined by British economist Jim O'Neill, and later championed by his employer Goldman Sachs in 2001, to designate a group of emerging markets.