In a momentous move signaling significant geopolitical changes, the BRICS group has extended membership invitations to six nations, including Saudi Arabia, the United Arab Emirates (UAE), Argentina, Egypt, Ethiopia, and Iran, as reported by the Associated Press. The inclusion of these nations is expected to take effect from 2024.
The monumental announcement came during the BRICS summit held in Johannesburg, delivered by South African President Cyril Ramaphosa. South Africa, which currently presides over the BRICS group, made its intention clear to usher in an era of expanded collaboration and synergy. Presently, BRICS consists of the emerging economies of Brazil, Russia, India, China, and South Africa, with this week’s summit leading to a consensus on its enlargement.
It’s worth noting that this marks the second expansion drive by the BRICS association. Initially formed in 2009 by Brazil, Russia, India, and China, South Africa was the first nation to be added a year later in 2010. Currently, the BRICS member states represent approximately 40% of the global population and contribute to over a quarter of the world’s Gross Domestic Product (GDP).
Aside from President Ramaphosa, three other leaders graced the summit, including Brazilian President Luiz Inácio Lula da Silva, Indian Prime Minister Narendra Modi, and Chinese President Xi Jinping. Interestingly, Russian President Vladimir Putin refrained from attending in person, given an arrest warrant issued against him by the International Criminal Court in March on charges of abducting children from Ukraine. Nonetheless, Putin virtually attended the summit, with Russia being represented at the Johannesburg announcement by Foreign Minister Sergey Lavrov.
As BRICS continues to bolster its position in the global arena, the inclusion of these six nations is likely to reshape economic and political alliances, further highlighting the increasing importance of emerging economies in dictating world affairs.
