BRICS invites 6 new countries to join its union. They have sent invitations to Argentina, Egypt, Ethiopia, Iran, Saudi Arabia, and the United Arab Emirates, according to South African President Cyril Ramaphosa, who hosted a three-day group meeting in Johannesburg this week. They will become members on January 1, 2024.
Rise of the BRICS association
Due to the rumoured launch of a gold-backed currency, the BRICS coalition, which has grown into a powerful force in the global economy, has attracted a lot of attention. These countries’ central banks have been systematically building up gold reserves, which is a blatant sign of their objectives. The BRICS acronym stands for the top five emerging economies in the world. Every year, the BRICS Leaders’ Summit is held. Five of the major emerging nations in the world are represented by the BRICS, accounting for 16% of global commerce, 24% of global GDP, and 41% of the world’s population. A global power bloc and a booming financial industry.
The new invitations
The new nations invited are Saudi Arabia, Argentina, Egypt, Iran, Ethiopia, and the United Arab Emirates (UAE). In his remarks at the BRICS summit, United Nations Secretary-General Antonio Guterres said, “Today’s global governance structures reflect yesterday’s world.” He emphasised that for international institutions to be widely used, reform was necessary. The United Nations Security Council, World Bank, and International Monetary Fund are just a few of the institutions that Guterres cited as examples. BRICS invites 6 new countries for overall growth.
The invite was well received by the new members as well. A representative of Iran praised the new membership as a “historic move.” On X, Mohammad Jamshidi, the deputy chief of staff for political affairs for the Iranian president, referred to it as “a strategic victory for Iran’s foreign policy.” Mohammed bin Zayed, the president of the UAE, expressed his gratitude for his nation’s inclusion in such an “important group.” “We look forward to a continued commitment of cooperation for the prosperity, dignity, and benefit of all nations and people around the world,” he wrote in a post on X.
Comments of BRICS Leaders
Following the announcement, the five leaders of the bloc praised the choices in statements. Vladimir Putin, the president of Russia, spoke at the conference in Johannesburg via video link and declared that his nation wants to strengthen ties with African nations. He promised to continue to be a dependable supply of food and fuel. Putin is not present at the meeting since doing so would require the host nation, South Africa, to detain him following an arrest order issued by the International Criminal Court (ICC) regarding Russia’s conflict in Ukraine.
The action, according to Chinese President Xi Jinping, demonstrated BRICS’ commitment to cooperation and unity. Following the announcement, Xi called the bloc’s growth “historic,” and Indian Prime Minister Narendra Modi said it should serve as an example for other international organisations that were established in the 20th century but have since grown obsolete. According to Modi, the BRICS’ growth and modernization send a message to all international institutions that they must adapt to the times they live in.
BRICS invites 6 new countries to expand the alliance as a result of the failure to further the current BRICS partnership, which, despite accounting for a third of global GDP, has differing interests. These interests range from China’s ascent to global superpower status to India’s nonalignment to Brazil’s position as a farm exporter. Some of the new members, most notably Saudi Arabia and Iran, have a history of strained ties and provide little hope for cogent action beyond bolstering the Middle East and Africa’s representation in the bloc.
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