EconoScope | BRICS keeps getting bigger, more influential

(ECNS) -- Ethiopia's reliance on imported oil once cost the country about $6 billion in foreign exchange annually. Cooperation with Chinese companies is changing that equation: electric buses, heavy-duty trucks, oil-to-gas projects, and technical training are helping Ethiopia harness its abundant hydropower and move toward greener industrial growth.

This story is emblematic of the Global South. Energy, infrastructure, industrial upgrading and digitalization remain pressing challenges across many developing nations. And this is where BRICS has found growing relevance. Ethiopia formally joined the grouping in 2024, gaining a platform to expand partnerships and cooperation.

Over two decades, BRICS has grown from four founding members into a "Big BRICS" mechanism representing nearly half the world's population and about 30% of global GDP. Its weight in trade and finance continues to rise.

So, why does BRICS keep expanding? BRICS countries coming together may appear accidental, but in essence, it is a historical necessity, Wang Youming, a researcher at the China Institute of International Studies, told China News Network.

Despite differences in political systems and values, members share the aspiration of building a fairer international order. Xu Feibiao of the China Institutes of Contemporary International Relations added: "BRICS is not a security organization or political alliance. It centers on economic cooperation, sovereign equality and friendly consultation."

China's role has been pivotal. It proposed the "BRICS+" model, with goals of integrated markets, multi-tiered circulation, connectivity by land, air and sea, and cultural exchange. It has also championed visions of a "peaceful, innovative, green, just and humanistic BRICS."

The cooperation is increasingly tangible.

The cooperation is increasingly tangible. In May, representatives from more than 20 BRICS and partner countries met in Xiamen to discuss intelligent manufacturing ecosystems, with artificial intelligence and digital technologies opening new areas of collaboration. Standards and certification are entering the agenda, lowering costs for cross-border business.

Financial cooperation offers another tangible example. According to Xinhua reports, by the end of 2025, the New Development Bank, established by BRICS countries, had approved more than $42 billion in loans. For emerging markets and developing countries, the bank provides an additional source of financing for development projects.

For the Global South, this means more than new trading partners -- it means shared strength in tackling common challenges. As Wang put it, under "Big BRICS" cooperation, developing countries are moving from supporting roles in global governance toward more prominent positions.

An electric bus, a project loan, a standards alignment -- each small step reflects real development needs. And as more of those needs find answers through BRICS, South-South cooperation is becoming increasingly concrete. That is why BRICS keeps getting bigger, and why its influence continues to grow.

(By Gong Weiwei)