Feature |
SCO |
BRICS |
Full Name |
Shanghai Cooperation Organisation |
BRICS |
Establishment |
15 June 2001 |
2009 (initial BRIC summit); 2011 (renamed BRICS with South Africa joining) |
Predecessor |
Shanghai Five (1996-2001) |
N/A |
Headquarters |
Beijing, China (Secretariat); Tashkent, Uzbekistan (RATS Executive Committee) |
Shanghai |
Membership |
11 members:
- Belarus
- China
- India
- Iran
- Kazakhstan
- Kyrgyzstan
- Pakistan
- Russia
- Tajikistan
- Uzbekistan |
9 members:
- Brazil
- Russia
- India
- China
- South Africa
- Iran
- Egypt
- Ethiopia
- United Arab Emirates |
Observers/Dialogue Partners |
Several countries including Afghanistan, Mongolia, and Turkey |
Saudi Arabia (invited nation); 13 partner countries including Algeria, Belarus, Bolivia, Cuba, Malaysia, Indonesia, Kazakhstan, Nigeria, Thailand, Turkey, Uganda, Uzbekistan, and Vietnam |
Geographic Coverage |
Approximately 24% of the world's land area (65% of Eurasia) |
Approximately 30% of the world's land area |
Population Coverage |
About 42% of the world's population |
About 45% of the world's population |
Combined GDP (Nominal) |
Around 23% of the world's total (2024) |
US$28 trillion (27% of the gross world product, 2024) |
Combined GDP (PPP) |
Approximately 36% of the world's total (2024) |
US$65 trillion (33% of global GDP PPP, 2024) |
Foreign Reserves |
N/A |
Estimated US$5.2 trillion (2024) |
Main Objectives |
- Political and economic cooperation
- Regional security
- Counter-terrorism |
- Economic cooperation and development
- Political coordination
- Reforming global governance |
Key Institutions |
- Regional Anti-Terrorist Structure (RATS)
- Heads of State Council (HSC) |
- New Development Bank (NDB)
- BRICS Contingent Reserve Arrangement (CRA)
- BRICS pay
- BRICS Joint Statistical Publication
- BRICS basket reserve currency |
Significant Initiatives |
- Security and defense cooperation
- Annual summits
- Economic and cultural exchange programs |
- Annual summits
- Joint multilateral policies
- Competing initiatives to G7 (e.g., NDB, CRA) |
Notable Expansion |
- India and Pakistan (2017)
- Iran (2023)
- Belarus (2024) |
- South Africa (2010)
- Egypt, Ethiopia, Iran, UAE (2024)
- BRICS Plus partners: Algeria, Belarus, Bolivia, Cuba, Malaysia, Indonesia, Kazakhstan, Nigeria, Thailand, Turkey, Uganda, Uzbekistan, Vietnam |
Criticism and Praise |
- Criticized for limited economic integration and slow decision-making processes |
- Praised for representing emerging economies
- Criticized for internal disagreements and diverse economic interests |