The BRIC Foreign Ministers Meeting held on May 16, 2009, in Yekaterinburg, Russia, was a significant event in the development of BRIC cooperation.

Background and Context

1. Global Financial Crisis: The meeting took place in the aftermath of the 2008 global financial crisis, which highlighted the need for emerging economies to have a stronger voice in global economic governance.
2. Rise of Emerging Economies: BRIC countries (Brazil, Russia, India, and China) were increasingly seen as major players in the global economy, with rapidly growing GDPs and increasing political influence.
3. Shift in Global Power Dynamics: There was a growing recognition of the need to reform international financial institutions to better reflect the changing global economic landscape.

Expanded Details of the Meeting

1. Attendees:
   • Brazil: Celso Amorim
   • Russia: Sergey Lavrov
   • India: S. M. Krishna
   • China: Yang Jiechi
2. Agenda Items:
   While specific details are limited, based on BRICS priorities during this period, likely discussion topics included:
   • Global economic situation and recovery strategies
   • Reform of international financial institutions
   • Climate change and sustainable development
   • Regional security issues
   • Enhancing cooperation among BRIC countries
3. Joint Communiqué:
   The communiqué likely addressed:
   • Call for a more representative international financial system
   • Emphasis on the role of G20 in addressing global economic challenges
   • Support for multilateralism and the central role of the United Nations
   • Commitment to further BRIC cooperation
4. Preparatory Nature:
   This meeting served as a preparatory session for the upcoming BRIC Summit, allowing Foreign Ministers to align their positions and set the agenda for their leaders.

Implications and Outcomes

1. Strengthened Coordination: The meeting helped to strengthen policy coordination among BRIC countries on major international issues.
2. Platform for Dialogue: It provided a platform for these emerging economies to discuss their common concerns and interests outside of Western-dominated forums.
3. Institutional Development: This meeting contributed to the institutionalization of BRICS cooperation, laying groundwork for future regular meetings and summits.
4. Global Governance Reform: The united stance of BRIC countries likely put additional pressure on traditional powers to consider reforms in global governance structures.
5. Economic Cooperation: Discussions may have included ways to enhance economic cooperation among BRIC nations, potentially including talks on trade in local currencies to reduce dependency on the US dollar.

Historical Significance

1. Precursor to BRICS: This meeting was a crucial step towards the formation of BRICS (with South Africa joining in 2010).
2. Shift in Global Diplomacy: It signaled a shift in global diplomacy, with emerging economies asserting their collective voice more strongly on the world stage.
3. Alternative to Western-led Institutions: The meeting helped pave the way for future BRICS initiatives, such as the New Development Bank, offering alternatives to Western-dominated international financial institutions.

This expanded view provides a more comprehensive understanding of the 2009 BRICS Foreign Ministers Meeting in Yekaterinburg, situating it within the broader context of changing global dynamics and the rising influence of emerging economies in the early 21st century.