The countries of the BRICS Group (Brazil, Russia, India, China and South Africa) are emerging as a group that intends to define a common agenda to boost their joint growth and try to have an impact on the global scene. These countries add up to nearly 40% of the world's population, 15% of trade and 25% of the global Gross Domestic Product; moreover, they are playing an increasingly vital role as driving forces of the world economy.

In this connection, in July 2009, the Permanent Secretariat of SELA organized three regional meetings on three of the emerging economies of the BRICS Group: China, India and Russia. In these events, participants reiterated the need for SELA to maintain an ongoing analysis of economic and cooperation relations of these countries with Latin America and the Caribbean.

Afterwards, in May 2012, the “Regional Meeting on recent developments in economic relations between the Russian Federation and Latin America and the Caribbean” took place. In this event, the Permanent Secretariat presented the study “Recent developments in economic relations between the Russian Federation and Latin America and the Caribbean: Institutional and cooperation mechanisms for strengthening relations” (SP/Di N° 14-11). On that occasion, SELA Member States recommended that the Permanent Secretariat continue with the analysis of relations with the Russian Federation.

In addition, in 2012, the Permanent Secretariat prepared and distributed the documents “Relations between China and Latin America and the Caribbean in the current world economic situation” (SP/Di N° 10-12) and “Relations of Latin America and the Caribbean with the Republic of South Africa” (SP/Di N° 24-12).

In 2013, SELA and the Institute of Applied Economic Research of Brazil (IPEA) organized a Regional Meeting on Latin American and Caribbean Economic Relations with emerging countries (BRICS) in Brasilia, where a comprehensive analysis of such relations was made. On that occasion, it was evidenced that there is ample room for expanding, deepening and strengthening trade, investment and cooperation between both groups of countries.

In 2014, two events related to countries of the BRICS Group were held: the “Regional Meeting on the economic, trade and cooperation relations of Latin America and the Caribbean with the People's Republic of China,” in which the Permanent Secretariat presented the study “Status of the economic and cooperation relations between China and the countries of Latin America and the Caribbean;” and the “Regional Meeting on the economic and trade relations of Latin America and the Caribbean with nations of the Pacific, India and Africa,” in which the following document was presented: “Relations of Latin America and the Caribbean with India: A window of opportunity.”

In this connection, the establishment of the New Development Bank of the BRICS in July 2015 is considered of the utmost importance, since it is intended to mobilize resources for infrastructure and development projects not only in the countries of the BRICS Group, but also in other emerging nations in Latin America and the Caribbean.