BRICS Summit: BRICS announces six new members, check details
BRICS Expansion: In a big breaking, BRICS group of nations on Thursday decided to include six new members- Argentina, Ethiopia, Egypt, Iran, Saudi Arabia and the UAE.
The new membership will be effective from January 1, 2024.
Leaders from Brazil, Russia, India, China and South Africa (BRICS) supported the expansion of the grouping, the first such expansion since 2010 when South Africa was inducted into the group.
South Africa's President Cyril Ramaphosa said that Argentina, Egypt, Ethiopia, Iran, Saudi Arabia and UAE have been invited to join the BRICS as part of the first phase of expansion.
With this expansion, six of the world's nine largest oil producers are now part of BRICS.
"This summit reaffirmed the importance of BRICS, people-to-people exchanges & enhancing friendship & cooperation...We adopted the Johannesburg two declarations which reflect key BRICS messages on matters of global economic, financial and political importance. It demonstrates the shared values & common interests that underlie our mutually beneficial cooperation as the five BRICS countries..." Ramaphosa said.
BRICS is a diverse group of nations.
It is an equal partnership of countries that have differing views but a shared vision for a better world.
As the five #BRICS members, we have reached agreement on the guiding principles, standards, criteria and procedures of the #BRICS… — Cyril Ramaphosa ???????? (@CyrilRamaphosa) August 24, 2023
Meanwhile, Prime Minister Narendra Modi said that "India has always supported the expansion of BRICS and has always believed that adding new members will strengthen BRICS as an organisation.
PM Modi also congratulated leaders and people of Argentina, Egypt, Ethiopia, Iran, Saudi Arabia and UAE over the decision on their full membership of BRICS and said India has always supported the expansion of the organisation.
On the occasion of the 15th anniversary of BRICS, we have taken the decision to expand this forum. India has always fully supported this expansion. Such an expansion will make BRICS stronger and more effective.
In that spirit, India welcomes Argentina, Egypt, Ethiopia, Iran,… — Narendra Modi (@narendramodi) August 24, 2023
PM Modi said India has “historic ties” with all the new members of BRICS.
BRICS refers to a group of five major emerging economies: Brazil, Russia, India, China, and South Africa. These countries are known for their significant influence on regional and global affairs due to their large populations, substantial landmasses, and considerable economic and political clout.
BRICS was initially referred to as "BRIC" before South Africa joined in 2010, expanding the group.
- With inputs from agencies