Title: BRICS Announces Expansion, Invites New Members to Join
The annual BRICS summit, held among major emerging economies, has been buzzing with talks of expansion. South African President Cyril Ramaphosa has announced that Saudi Arabia and Iran, along with six other countries, have been invited to join BRICS as new members. The five current members of BRICS – China, Brazil, South Africa, Russia, and India – have agreed on the guiding principles and procedures for the expansion process.
From January 1 next year, the new members, which include Argentina, Egypt, Ethiopia, Iran, Saudi Arabia, and the United Arab Emirates, will officially become full members of BRICS. Chinese President Xi Jinping has described the membership expansion as historic and a new starting point for BRICS cooperation.
Iranian officials have welcomed the country’s admission into the grouping, considering it a historic development and a strategic success for their foreign policy. Ethiopian Prime Minister Abiy Ahmed also hailed the expansion, describing it as a great moment for his country and expressing readiness to cooperate for an inclusive and prosperous global order.
Prince Faisal bin Farhan, the foreign minister of Saudi Arabia, stated that the kingdom welcomes the invitation and will carefully review the details before making a decision.
The expansion of BRICS is part of the group’s plan to establish dominance and reshape global governance into a multipolar world order that provides more influence to the Global South. Additionally, it marks the first representation of the Middle East and North Africa in the group, with the inclusion of Saudi Arabia, the UAE, Iran, and Egypt.
Russia and China have been strong advocates for the expansion, driven by pushback from Western nations in the form of sanctions. However, some experts believe that BRICS has not achieved much in its 15 years of existence, pointing to the diverse nature of its members’ interests, which often lead to disagreements and a lack of effectiveness.
The summit in South Africa concludes on Thursday, with over 50 heads of state and leaders attending. Throughout the event, more than 40 countries expressed interest in joining BRICS, and 23 formally applied. As the expansion process moves forward, BRICS aims to solidify its position as a powerful and inclusive global force.
In its commitment to promoting cooperation among emerging economies, BRICS seeks to forge partnerships that will shape the future of the global economy, foster sustainable development, and address common challenges faced by its members.
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