BRICS is a group of emerging economies created to coordinate its members’ economic and diplomatic policies, found new financial institutions, and reduce dependence on the U.S. dollar, such as through establishing the New Development Bank (NDB) and Contingent Reserve Arrangement (CRA) as alternatives to Bretton-Woods institutions. BRICS current has 9 member states: Brazil, Russia, India, China, South Africa, Iran, Egypt, Ethiopia, and the United Arab Emirates. BRICS recently offered invitations to 13 nations to become partner countries, including four in ASEAN (Thailand, Indonesia, Malaysia and Vietnam).