The Gross Domestic Product of the BRICS is now 36 percent of global GDP and 47 percent of the world population. This follows the announcement of the six nations joining the BRICS bloc.
GOVIMA reported that The BRICS founding members, Brazil, Russia, Indian, China and South Africa have agreed to include Argentina, Ethiopia, Iran, Saudi Arabia, Egypt and the United Arab Emirates full members from January 1.
“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. The membership will take effect from 1 January 2024.” announced Cyril Ramaphosa President of South Africa
India said adding the six countries shows the determination of BRICS for unity.
“India will continue to build consensus for those countries wishing to join BRICS. Expansion & modernisation of BRICS is a message that global institutions must mold themselves to changing times,” said India Prime Minister Narendra Modi
In reaction to the bloc expansion, the BRICS Sherpa said they received applications from 22 countries.
“We had applications from 22 countries. All of these countries we have taken on board had applied formally. Expansion had to happen in a structured manner,” stated Ambassador Anil Sooklal BRICS Sherpa
The Johannesburg Declaration 2 adopted at this year’s BRICS Summit here in South Africa is expected to ensure the development of BRICS nations and create more inclusive economic policies for all members.
US officials have downplayed the prospects of BRICS emerging as a geopolitical competitor, characterising the group as a diverse assemblage of countries that encompass both allies and rivals.
