The BRICS (Brazil, Russia, India, China and South Africa) Forum was established in 2011, with the intention to support and encourage cooperation between the BRICS nations in commercial, political and cultural dimensions. The five member states of BRICS are nations with unique culture, different economic sizes, and social and economic developments. However, one thing the BRICS nations have in common is that each plays significant roles in their regional affairs. Chinese President Xi Jinping emphasized, multiple times in his keynote speech to the BRICS heads, as well as to the business and industrial leaders from the participation nations, that the BRICS highly value mutual respect, openness and tolerance, as well as mutual benefit, which, President Xi said he believes, is the cornerstone to the success of the cooperation among the BRICS nations in the past decade and will continue to be so in the foreseeable future cooperation among the BRICS nations, and cooperation between BRICS and other emerging market economies and developing economies.