BRICS in the context of United Arab Emirates

An international organization, also called an intergovernmental organization (IGO) or an international institution, is an association of states established by a treaty or other type of instrument governed by international law to pursue the common aim of its member states. An IGO possesses its own legal personality separate from its member states and can enter into legally binding agreements with other IGOs or with other states. The United Nations, Council of Europe, African Union, Organization of American States, North Atlantic Treaty Organization, Mercosur, and BRICS are examples of IGOs. International organizations are composed of primarily member states, but may also include other entities, such as other international organizations, firms, and nongovernmental organizations. Additionally, entities may hold observer status. Under international law, although treaties are typically between states, intergovernmental organizations also have the capacity to enter into treaties. The traditional view was that only states were subjects of international law, but with the founding of the United Nations, that view expanded to include intergovernmental organizations.

Within the international relations literature, international organizations facilitate cooperation between states by reducing transaction costs, providing information, making commitments more credible, establishing focal points for coordination, facilitating the principle of reciprocity, extending the shadow of the future, and enabling interlinkages of issues, which raises the cost of noncompliance. States may comply with the decisions of international organizations, even when they do not want to, for rational cost-benefit calculations (to reap concrete rewards of future cooperation and avoid punishment) and normative reasons (social learning and socialization).

The post–Cold War era is a period of history that follows the end of the Cold War, which represents history after the dissolution of the Soviet Union in December 1991. This period saw many former Soviet republics become sovereign states, as well as the introduction of market economies in Eastern Europe. This period also marked the United States becoming the world's sole superpower.

Relative to the Cold War, the period is characterized by stabilization and disarmament. Both the United States and Russia significantly reduced their nuclear stockpiles. Much of the former Eastern Bloc became democratic and was integrated into the world economy. In the first two decades of the period, NATO underwent three enlargements, and France reintegrated into the NATO command. Russia formed the Collective Security Treaty Organization to replace the dissolved Warsaw Pact, established a strategic partnership with China and several other countries, and entered the Shanghai Cooperation Organisation and BRICS alongside China, which is a rising power. Reacting to the rise of China, the United States began a gradual rebalancing of strategic forces to the Asia–Pacific region and out of Europe.

A great power is a sovereign state that is recognized as having the ability and expertise to exert its influence on a global scale. Great powers characteristically possess military and economic strength, as well as diplomatic and soft power influence, which may cause middle or small powers to consider the great powers' opinions before taking actions of their own. International relations theorists have posited that great power status can be characterized into power capabilities, spatial aspects, and status dimensions.

While some nations are widely considered to be great powers, there is considerable debate on the exact criteria for great power status. Historically, great powers have been formally recognized as members of organizations such as the Congress of Vienna of 1814–1815 or the United Nations Security Council, of which the permanent members are China, France, Russia, the United Kingdom, and the United States. The United Nations Security Council, NATO Quint, the G7, BRICS, and the Contact Group have all been described as great power concerts.

An emerging market (EM, also an emerging country or an emerging economy) is a market that has some characteristics of a developed market, but does not fully meet its standards. This includes markets that may become developed markets in the future or were in the past. The term "frontier market" is used for developing countries with smaller, riskier, or more illiquid capital markets than "emerging". As of 2025, the economies of China and India are considered the largest emerging markets. The ten largest emerging economies by nominal GDP are 4 of the 9 BRICS countries (Brazil, Russia, India, and China) along with Mexico, South Korea, Indonesia, Turkey, Saudi Arabia, and Poland. The inclusion of South Korea, Poland, and sometimes Taiwan are debatable, given they are no longer considered emerging markets by the IMF and World Bank (for Korea and Taiwan). If we exclude South Korea, Poland and/or Taiwan, this list of top ten emerging markets would include Argentina and Thailand.

Emerging market economies' share of global PPP-adjusted GDP has risen from 27 percent in 1960 to around 53 percent by 2013. When countries "graduate" from their emerging status, they are referred to as emerged markets, emerged economies or emerged countries, where countries have developed from emerging economy status, but have yet to reach the technological and economic development of developed countries. According to a 2008 article in The Economist, many people find the term "emerging markets" outdated, but no alternate term has gained wide use. Emerging market hedge fund capital reached a record new level in the first quarter of 2011 of $121 billion.

The inaugural BRIC summit took place in Yekaterinburg, Russia on June 16, 2009. The four heads of state or heads of government from the BRIC countries attended.

The 2011 BRICS summit (Chinese: 金砖国家领导人第三次会晤) took place in Sanya on the island of Hainan, China, on 14 April 2011. This was the third BRICS summit since 2009 and the first to formally include South Africa after its accession to the group in December 2010. The meeting took place among the five heads of state/heads of government from the BRICS states following bilateral meetings in the prior days.

The 2024 BRICS summit was the sixteenth annual BRICS summit, held in Kazan, Russia. It was the first BRICS summit to include Egypt, Ethiopia, Iran, and the United Arab Emirates as members, following their accession to the organization at the 15th BRICS summit.