BRICS has extended invitations to six nations for new membership, per the decision made at a summit held this week in Johannesburg, Arab News reported.
On Thursday, South African President Cyril Ramaphosa announced that Argentina, Egypt, Iran, Ethiopia, Saudi Arabia, and the United Arab Emirates (UAE) had been invited to join the bloc. The new memberships are set to take effect on Jan 1.
This is the first time since 2010 that the BRICS countries – Brazil, Russia, India, China, and South Africa – have decided to expand their group. UAE President Mohamed Bin Zayed and Brazil’s President Luiz Lula da Silva welcomed the decision.
Russian President Vladimir Putin welcomed the expansion and urged immediate collaboration with the new members. Similarly, India’s Prime Minister Narendra Modi asserted that the new members would strengthen the bloc and provide a fresh boost to shared efforts.
Chinese President Xi Jinping emphasized the significant influence of BRICS nations, highlighting their crucial role in maintaining world peace and development.
Read Next: BRICS Alliance Explores Expansion Amid Shifting World Order: Investors Eye These 5 ETFs
Image via Shutterstock
Engineered by Benzinga Neuro, Edited by Pooja Rajkumari
The GPT-4 Benzinga Neuro content generation system exploits the extensive Benzinga Ecosystem, including native data, APIs, and more to create comprehensive and timely stories for you. Learn more.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.