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Brazil Host BRICS Summit

13/07/2014

By Daniel Hunter

Brazil is hosting a summit for the BRICS nations as it hopes to capitalise on the added publicity provided by the World Cup.

No sooner have the players and fans left the country after Germany's historic win than the politicians arrive.

In a bid to use the World Cup as a platform to boost the economy, the Brazilian government is hosting an international summit for the BRICS national (Brazil, Russia, India, China and South Africa).

Brazil, Russia, India, China and South Africa have been grouped together because they are some of the fastest growing economies in the world.

Brazil is particularly keen to boost its exports. At the moment, it is one of the most closed off economies in the world. Exports account for just 13% of its GDP, whereas the rest of the BRICS countries exports account for more than double that.
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