THE second Brics Dialogue Conference — with leading academics, policymakers and researchers from participant nations: Brazil, Russia, India, China and South Africa — is set to open tomorrow at the Federal University of Rio de Janeiro, Brazil.

The event, organised by the Durban University of Technology in collaboration with the Alberto Luiz Coimbra Institute for Graduate Studies and Research in Engineering, is meeting under the theme of “Growth and Sustainability of Livelihoods in BRICS Countries: Knowledge Sharing in Social Justice, Governance and Multilateralism.”

The group of nations — currently Brazil, Russia, India, China and South Africa — covers nearly 42 per cent of the global population and around 27 per cent of the world’s land surface. 

Brics nations had a gross domestic product equivalent to over $26 trillion (£20tn) in 2022. 

Experts believe the combined populations of the Brics nations is likely to grow considerably over the next few years, with the bulk of this growth likely to be in India and China. 

Many emerging countries are also recognising the potential economic and political importance of the group.

Around 20 other nations have expressed a desire to join, which will add further economic and political strength to the alliance, seen by many as a challenge to the dominance of the United States.

The participants at the dialogue will explore how to use the wealth created by emerging countries to benefit their own population.

The Brics nations are rich in natural resources craved by the West, including land, forests, minerals and energy resources. 

The dialogue will continue the discussion over how these resources can be used to improve the lives of people living in the global South.

The gathering will also consider how governance and accountability can be improved and how multinational cooperation across the global South can be improved.