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Six more countries have joined Brazil, Russia, India, China and South Africa (BRICS) group as new members.
The new members are; Argentina, Egypt, Ethiopia, Iran, Saudi Arabia and the United Arab Emirates (UAE).
The new members were announced by South African President also BRICS Chairperson, H.E Cyril Ramaphosa, on Thursday after the leaders adopted the Johannesburg II Declaration of the XV BRICS Summit.
According to Ramaphosa, this will take effect from the 1st of January 2024.
The XV Summit currently ongoing in Johannesburg adopted guiding principles on the BRICS expansion to admit new countries.
“BRICS Leaders have reached a consensus on the expansion guidelines of admission to BRICS. We have decided to invite the Argentine Republic, the Arab Republic of Egypt, the Federal Democratic Republic of Ethiopia, the Islamic Republic of Iran, the Kingdom of Saudi Arabia and the United Arab Emirates to become full members of BRICS from 1 January 2024,” announced Ramaphosa.
He also welcomed the BRICS Women’s Business Alliance outcomes and the participation of young people in the Summit.
“The Leaders affirm their commitment to inclusive multilateralism, international law and the principles of the UN Charter,” he stated, adding:
“BRICS Leaders remain concerned about ongoing conflicts in the world and stress the importance of the settlement of disputes through dialogue and inclusive consultation.”
According to the World of Statistics, BRICS membership (GDP) is now $30.76 trillion (30% of the global economy).