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BRICS announces expansion with six countries joining in 2024
BRICS represents around 40 per cent of the world's population and more than a quarter of global GDP, its first expansion was in 2010 when South Africa joined.
(L to R) President of Brazil Luiz Inacio Lula da Silva, President of China Xi Jinping, President of South Africa Cyril Ramaphosa, Prime Minister of India Narendra Modi and Foreign Minister of Russia Sergey Viktorovich Lavrov. / Image – X/ Presidency South Africa
The BRICS (Brazil, Russia, India, China, and South Africa) five-nation bloc announced an expansion of its geographical and economic representation of developing countries at the Johannesburg Summit, inviting six nations to join the group.
South African President Cyril Ramaphosa, who hosted the summit, said Argentina, Egypt, Iran, Ethiopia, Saudi Arabia and the United Arab Emirates will formally join the BRICS in January 2024.
Welcoming the expansion, Prime Minister Narendra Modi said, “On the occasion of the 15th anniversary of BRICS, we have decided to expand this forum. India has always fully supported this expansion. Such an expansion will make BRICS stronger and more effective. " He met and congratulated the newly inducted member countries' heads.
President of the United Arab Emirates (UAE) Sheikh Mohamed bin Zayed Al Nahyan welcomed UAE's inclusion in the five nations group. "We respect the vision of the BRICS leadership and appreciate the inclusion of the UAE as a member of this important group," he said on X. "We look forward to a continued commitment of cooperation for the prosperity, dignity and benefit of all nations and people around the world," he added.
Ethiopian Prime Minister Abiy Ahmed hailed the decision by saying, “A great moment for Ethiopia.” Alberto Fernández, President of Argentina, called this "a new step in the consolidation of brotherhood and openness to the world that we always dreamed of." Iran, Saudi Arabia and Egypt heads also welcome their countries' entry into the BRICS.
BRICS expansion signifies its role to serve the interest of emerging economies and the global south in a multipolar world. Nearly 25 countries formally applied for BRICS membership. On more countries' representation in the group, President Ramaphosa said,” We have consensus on the first phase of this expansion process, and further phases will follow.”
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