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Business Economy

Update

BRICS invites six countries including UAE, Saudi Arabia to be new members

Iran, Argentina, Egypt and Ethiopia have also been invited to join the economic bloc



(From L to R) President of China Xi Jinping, President of Brazil Luiz Inacio Lula da Silva, South African President Cyril Ramaphosa and Prime Minister of India Narendra Modi gesture during the 2023 BRICS Summit.
Image Credit: AFP

Johannesburg: The BRICS group of nations has decided to invite six countries - Argentina, Egypt, Iran, Ethiopia, Saudi Arabia and the United Arab Emirates - to become new members of the bloc, South African President Cyril Ramaphosa said on Thursday.

The debate over expanding the BRICS bloc, comprising Brazil, Russia, India, China and South Africa, has topped the agenda at a three-day summit in Johannesburg ending on Thursday.

While all BRICS members have publicly expressed support for growing the bloc, there were divisions among the leaders over how much and how quickly.

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Expansion could also pave the way for dozens of interested countries seeking admission to BRICS - currently Brazil, Russia, India, China and South Africa.

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South African President Cyril Ramaphosa, who is hosting a summit of BRICS leaders, announced on Thursday that the new candidates would be admitted as members on January 1, 2024.

More than 40 countries have expressed interest in joining BRICS, say South African officials, and 22 have formally asked to be admitted.

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