Six additional nations join Brics

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【Summary】Six more countries, including Iran, Saudi Arabia, Egypt, the United Arab Emirates, Ethiopia, and Argentina, are set to join the Brics bloc of developing economies from next year. The announcement was made at a summit in Johannesburg by South African President Cyril Ramaphosa. The expansion of Brics, which currently represents around 40% of the world's population, has attracted membership applications from 17 other nations.

FutureCar Staff Aug 24, 2023 10:08 AM PT

Six more countries are set to join the Brics bloc of developing economies, according to an announcement made at a Johannesburg summit. The countries invited to become members are Iran, Saudi Arabia, Egypt, the United Arab Emirates, Ethiopia, and Argentina. Brics, which currently consists of Brazil, Russia, India, China, and South Africa, will welcome these new members from next year.

The decision to expand the bloc was reached during the summit, with South African President Cyril Ramaphosa making the announcement. South African Foreign Minister Naledi Pandor stated that the leaders had agreed on the guidelines and principles for considering new members.

There were previous speculations that Argentina had withdrawn its bid to join Brics, but President Alberto Fernandez confirmed that his country would accept the membership invitation. This decision followed the presidential primary elections, where a far-right populist gained unexpected support.

President Fernandez highlighted the benefits of joining Brics, stating that it represents a significant portion of the global output and would demonstrate Argentina's commitment to integration. He emphasized the importance of strengthening relationships with other countries and using this opportunity for the benefit of the people.

Brics currently represents around 40% of the world's population and has reportedly received membership applications from 17 other nations. These nations include Algeria, Bangladesh, Bahrain, Belarus, Bolivia, Cuba, Honduras, Indonesia, Kazakhstan, Kuwait, Morocco, Nigeria, Palestine, Senegal, Thailand, Venezuela, and Vietnam.

During the summit, Chinese President Xi Jinping, Brazilian President Luiz Inacio Lula da Silva, and Indian Prime Minister Narendra Modi joined President Ramaphosa in announcing the new-member invitations. Russian President Vladimir Putin did not attend the summit due to an arrest warrant issued by the International Criminal Court, but his government was represented by Foreign Minister Sergei Lavrov.