The BRICS group of leading emerging economies has taken a significant step toward broadening its influence by inviting six new members—Saudi Arabia, Iran, Ethiopia, Egypt, Argentina, and the United Arab Emirates—to join the group.
The new members will officially become members on January 1 of next year.
After dozens of countries expressed interest in joining, BRICS leaders voted in favor of expansion, the bloc’s first in thirteen years, and left the door open for further expansion.
Chinese President Xi Jinping, the bloc’s most steadfast proponent of enlargement, called the increase in membership “historic.” It exemplifies the BRICS countries’ resolve to work together and strengthen the developing world as a whole.
China, the world’s second-largest economy, along with Brazil, Russia, India, and South Africa, are the current BRICS members, and the expansion gives them more economic clout. It might also help it achieve its stated goal of becoming a leader in the developing world.
When introducing the nations at the start of the three-day leaders’ summit he is hosting in Johannesburg, South African President Cyril Ramaphosa said, “BRICS has embarked on a new chapter in its effort to build a world that is fair, a world that is just, a world that is also inclusive and prosperous,… We’ve reached an agreement on the first step of this expansion, and more will come.”
