Brazil plays host to a summit of the BRICS bloc of developing economies Sunday and Monday during which pressing topics like Israel’s attack on Iran, the humanitarian crisis in Gaza and trade ...

"The Brics right now, for Brazil, cost almost nothing," he says. "So if the benefits are not high, it's fine. They are neither a big benefit nor a hindrance." ...

So does Brazil still deserve to be seen as an economic powerhouse? Many would say no. Brazil grew by less than 1% in 2012, the lowest of the BRIC countries, and only 2.7% in 2011.

They're showing interest in joining BRICS, the grouping of world economies that includes Brazil, Russia, India, China and South Africa. BRICS is holding a summit in Johannesburg this week.

In a news conference following the gathering, Brazil’s Minister of Foreign Affairs Mauro Vieira presented a statement from the BRICS presidency summarising their discussions.

Twenty Years of BRICs China surges while India climbs and Brazil and Russia languish Note: Values for the top 12 economies from 2020 GDP data are charted in current USD values. Source: World Bank ...

But as evidenced by Brazil's enthusiasm for a more active role for BRICS and the growing list of prospective members, it's not all about Beijing.

A united front among the BRICS is unlikely to persuade rich nations to change their monetary policies. But it could give Brazil and other countries critical political cover to seek palliative ...

On 6-7 July the founding BRICS member countries of Brazil, Russia, India, China, and South Africa will convene in Rio de Janeiro, joined by the full freshman class of new ‘BRICS+’ members: Indonesia, ...

BRICS was formed by Brazil, Russia, India and China in 2009, and South Africa was added in 2010. Last year, the alliance expanded to embrace Iran, Egypt, Ethiopia and the United Arab Emirates.

BRICS representatives will meet in South Africa this month on the sidelines of the G20 meetings, where Brazil will present its plan for the BRICS summit in July, the sources added.

Other BRICS members support fostering the creation of a multi-polar global order. But Brazil and India have both also been forging closer ties with the West.