BRICS Welcomes Five New Members. 🇷🇺🤝
In a groundbreaking development, the BRICS bloc is set to expand its reach with the inclusion of Egypt, Ethiopia, Iran, Saudi Arabia, and the United Arab Emirates (UAE). The official approval from these nations comes in the wake of the invitation extended during the BRICS summit held in Johannesburg in August 2023.
The pivotal BRICS summit in August 2023 marked a historic moment as it decided to broaden its alliance by inviting six new countries, namely Egypt, Ethiopia, Iran, Saudi Arabia, the UAE, and Argentina. However, Argentina later opted out, as announced by President Milei on December 30, 2023.
Minister Naledi Pandor, the South African Minister of International Relations and Cooperation, highlighted the significance of hosting the summit in Johannesburg. Pandor stated that the summit played a crucial role in confirming the full membership of Egypt, Ethiopia, Iran, Saudi Arabia, and the UAE, making the expansion decision one of the summit's most important outcomes.
Originally formed as BRIC in 2006, consisting of Brazil, Russia, India, and China, the bloc welcomed South Africa in 2010, officially becoming BRICS.
The inclusion of Egypt, Ethiopia, Iran, Saudi Arabia, and the UAE marks a notable milestone in the evolution of BRICS. This expansion adds a new dimension to the bloc, further strengthening its geopolitical influence and fostering increased economic collaboration among the member nations.
