BRICS officials during the last day of the bloc’s 15th summit in South Africa.
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South African President and current BRICS chair Cyril Ramaphosa said on Thursday that the BRICS economic alliance of emerging markets has decided to extend membership invitations to six countries.
The BRICS alliance – which is made up of Brazil, Russia, India, China and South Africa – is set to invite Argentina, Egypt, Ethiopia, Iran, Saudi Arabia and the United Arab Emirates to join, a speech by Ramaphosa published said in X on social media platformsWhich was earlier known as Twitter.
South Africa is currently hosting the 15th BRICS Summit. Russian President Vladimir Putin was unable to attend in person, possibly due to a warrant from the International Criminal Court that would theoretically oblige the host country – an ICC signatory – to proceed with his arrest.
Ramaphosa said, “BRICS is a group of different countries.” “It is an equal partnership of countries that have different views but a shared vision for a better world. As five.” #brics members, we have reached agreement on the guiding principles, standards, norms and procedures #brics expansion process.
A combined 23 countries have formally applied for BRICS membership, including the six that Ramaphosa said had been invited. Other major African players such as Nigeria and Ghana have expressed informal interest.
“We respect the vision of the BRICS leadership and appreciate the inclusion of the UAE as a member of this important grouping. We look forward to a continued commitment to cooperation for the prosperity, dignity and benefit of all countries and peoples around the world.” We do.” UAE President Mohamed bin Zayed said on X.
Gustavo de Carvalho, policy analyst and senior researcher at the South African Institute of International Affairs, said on X that the potential new members would not only raise the visibility of the BRICS bloc, but also provide alliance participants with an opportunity to do business with each other. in local currencies.
“It is still uncertain what will happen to the dynamics of the grouping, but clearly it brings a new space for business within the Global South. Much of the argument in the release centers on the need for change in international institutions, particularly the International Financial Institutions. reflect the collective voice of the World Bank, the IMF and the WTO,” he said.
This is a breaking news story and is being updated.
Source: www.cnbc.com
