Emerging economies group, BRICS has finally announced the expansion of the bloc after the integration of six new members from January 2024.
The group, which was initially made of Brazil, Russia, India, China, and South Africa at its Summit in Johannesburg, announced on Thursday Argentina, Egypt, Ethiopia, Saudi Arabia and the United Arab Emirates are also joining it.
The “historic enlargement” was praised by the president of China, Xi Jinping, who also projected a “radiant future for the Brics.” Beijing, the economic powerhouse of the union, supported this extension, which was the main topic of the 15th summit. The summit began on Tuesday and ends this evening.
A total of forty nations from around the world had either submitted membership applications or showed interest in doing so.
According to the “club of five,” which generates a quarter of global wealth and unites 42% of global population, this is a symptom of the growing power of emerging nations on the international scene.
Leader of newly included states have been commended for their admissions. Ethiopia’s Prime Minister, Abiy Ahmed, regarded Ethiopia’s inclusion as “an important moment” for his country.
“Ethiopia is ready to cooperate with all for an inclusive and prosperous world order”, Ahmed said in a social media post.
United Arab Emirates President, Mohammed ben Zayed stated that his country “respects the vision of the Brics leaders” in expressing support for the deal.
Egypt, which expressed a desire to “make the voice of the countries of the South heard,” stated the same thing.