During the 15th edition of BRICS summit, South Africa President Cyril Ramaphosa said the six countries will join Brazil, Russia, India, China, and South Africa to be a member of the bloc.

New Delhi: Six countries – Argentina, Egypt, Ethiopia, Iran, Saudi Arabia, and the UAE – have been invited to join BRICS. South Africa President Cyril Ramaphosa said the six countries will join Brazil, Russia, India, China, and South Africa to be a member of the group. The announcement came as leaders of the BRICS nations – Brazil, Russia, India, China, and South Africa – met in Johannesburg to attend the 15th edition of the summit. Argentina, Egypt, Ethiopia, Iran, Saudi Arabia, and the UAE will become members of the BRICS bloc from January 1, 2024.

Expansion has long been a goal of bloc heavyweight China, which hopes that broader membership will lend clout to a grouping already home to some 40 per cent of the world’s population and a quarter of global GDP. Heightened global tensions provoked by the Ukraine war and a growing rivalry between China and the United States have added urgency to a drive to strengthen the bloc, which has at times suffered from internal divisions and a lack of coherent vision. “An expanded BRICS will represent a diverse group of nations with different political systems that share a common desire to have a more balanced global order,” South Africa’s President Ramaphosa, said in an address ahead of the meetings, according to a report by news agency Reuters.

India, which is wary of Chinese dominance and has warned against rushing expansion, has “positive intent and an open mind”, Foreign Secretary Vinay Kwatra said. Brazil, meanwhile, was concerned that growing BRICS will dilute its influence. While a potential BRICS enlargement remains up in the air, the bloc’s pledge to become a champion of the developing ‘Global South’ and offer an alternative to a world order dominated by wealthy Western nations is already finding resonance.

What Is BRIC

The acronym BRIC, which did not initially include South Africa, was coined in 2001 by then Goldman Sachs chief economist Jim O’Neill in a research paper that underlined the growth potential of Brazil, Russia, India and China. The bloc was founded as an informal club in 2009 to provide a platform for its members to challenge a world order dominated by the United States and its Western allies.

Its creation was initiated by Russia. The group is not a formal multilateral organisation like the United Nations, World Bank or the Organisation of the Petroleum Exporting Countries (OPEC). The heads of state and government of the member nations convene annually with each nation taking up a one-year rotating chairmanship of the group.

Who Are The Current Members Of BRICS

Brazil, Russia, India, and China are the founding members. South Africa, the smallest member in terms of economic clout and population, was the first beneficiary of an expansion of the bloc in 2010 when the grouping became known as BRICS. Together the countries account for more than 40 per cent of the world population and a quarter of the global economy.

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