The Brazil, Russia, India, China and South Africa (BRICS) economic bloc has agreed to expand by admitting Argentina, Egypt, Ethiopia, Iran, Saudi Arabia and the United Arab Emirates (UAE) as members effective from January 1, 2024.
Nigeria’s Vice President, Kashim Shettima, departed Abuja on Monday to represent President Bola Tinubu at the 15th annual BRICS Summit taking place in Johannesburg, South Africa.
Over twenty countries had reportedly shown interest to become members of BRICS including Saudi Arabia, Iran, United Arab Emirates, Argentina, Indonesia, Egypt, Ethiopia and Nigeria, according to Reuters and South China South China Morning Post.
Over 40 countries graced the event with anticipation of becoming members of the economic bloc.
But in its “XV BRICS Summit Johannesburg II Declaration”, the bloc approved the enlistment of seven countries for now while noting the admiration from other countries that have applied.
“We appreciate the considerable interest shown by countries of the global South in membership of BRICS.
“True to the BRICS Spirit and commitment to inclusive multilateralism, BRICS countries reached consensus on the guiding principles, standards, criteria and procedures of the BRICS expansion process.
“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 from 1 January 2024,” the declaration partly read.
BRICS also tasked its Foreign Ministers to further develop the BRICS partner country model and a list of prospective partner countries and report by the next Summit.
“Brazil, Russia, India and China commend South Africa’s BRICS Chairship in 2023 and express their gratitude to the government and people of South Africa for holding the XV BRICS Summit.
“Brazil, India, China and South Africa extend their full support to Russia for its BRICS Chairship in 2024 and the holding of the XVI BRICS Summit in the city of Kazan, Russia,” the declaration stated.
Recall that BRICS came into full operation in 2009 with the objective of displacing the alleged global hegemony led by the United States and the US dollars.
