Brics stands for Brazil, Russia, India, China, and South Africa – the political groups founding members.
Established in 2009, the group has turned into a major political force over the past 15 years, having been set up by Vladimir Putin to act as a counterweight to Western influence.
Member nations make up more than a quarter of the global economy and almost half of the world’s entire population.
This week, members have sought to exert influence on the wars in the Middle East, as well as Ukraine.
It extended invitations last year to Argentina, Egypt, Ethiopia, Iran, Saudi Arabia, and the United Arab Emirates (UAE). All accepted except Argentina, though Saudi Arabia has delayed joining for an unknown reason.
It remains to be seen whether the group gains any new members following this year’s summit.