The ‘BRICs’ has been an increasingly popular concept in both the public media and academia. The countries of this group of emerging markets share as common characteristics large populations, less developed but fast growing economies, and governments willing to embrace global markets. Quantum changes are predicted in global economic power, with the BRIC countries gaining progressive importance and eventually becoming four of the six largest economies in world by 2050 (Wilson and Purushothaman, 2005) .Moreover, buoyed by their rising economic power, the BRICs states will keep expanding their diplomatic influence and playing more important roles in the international arena both regionally and globally.