"Relations with the BRICS nations are showing significant growth, reflecting the development of ties with the group's countries. The total volume of bilateral trade with the BRICS countries increased from $81 billion in 2017 to $128 billion in 2021. In 2022, the level exceeded $160 billion," the minister was quoted as saying by the state-run news agency.
BRICS unites the world's largest developing economies — Brazil, Russia, India, China, and South Africa. A number of other countries intend to join the economic bloc, including Argentina, Iran, Indonesia, Turkiye, Saudi Arabia, and Egypt. South Africa, which assumed the rotating BRICS presidency in January, will host the 15th BRICS summit in August.