South African President Cyril Ramaphosa announced on Thursday that the BRICS group of emerging nations will be extending its membership to include six new countries. These newcomers, Saudi Arabia, the United Arab Emirates, Iran, Argentina, Egypt, and Ethiopia, will officially become full members of BRICS starting from January 1, 2024.
The expansion decision emerged during a summit held in Johannesburg, where the agenda was heavily focused on the topic of enlarging the BRICS coalition. The group, composed of Brazil, Russia, India, China, and South Africa, had discussed and agreed upon the guiding principles, standards, criteria, and procedures for the expansion process.
Previously, there had been notable divisions among the bloc members regarding the timing and criteria for admitting new participants. Nevertheless, consensus was achieved, aligning the members on the approach to expanding the coalition.
The BRICS group, representing a quarter of the global economy and encompassing over three billion people, had received formal applications for membership from nearly two dozen countries. This summit was attended by around 50 heads of state and government, concluding on Thursday in Johannesburg.
The decision to include these six new countries is poised to reshape and strengthen the BRICS alliance, further solidifying its role as an influential player in the global economy and international affairs.
