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Wednesday, October 4, 2023

BRICS Expands with Addition of Six New Members: Argentina, Iran, UAE, Saudi Arabia, Ethiopia, and Egypt

he BRICS alliance, comprising Brazil, Russia, India, China, and South Africa, has announced its expansion to include six new members. This expansion marks a notable step in the group’s evolution, demonstrating a move towards greater representation and cooperation among emerging economies.

New Members and Commencement Date

The six countries set to join BRICS are Argentina, Iran, the United Arab Emirates (UAE), Saudi Arabia, Ethiopia, and Egypt. South African President Cyril Ramaphosa made this announcement, revealing that these new members are scheduled to officially become part of the alliance from January 1, 2024.

Broadened Global Influence and Multipolar Order

Indian Prime Minister Narendra Modi welcomed this expansion as a reinforcement of the faith that many nations place in a multipolar world order. The inclusion of these diverse nations is expected to strengthen the global influence of BRICS and foster collaboration on matters of mutual interest.

BRICS Background and Growth

BRICS originated as a four-country coalition in the mid-2000s and subsequently evolved to encompass South Africa in 2010. This expansion marks another milestone in the alliance’s journey to promote the interests of the “Global South.”

India’s Support and Guidelines for Expansion

Prime Minister Modi expressed India’s consistent support for the expansion of BRICS membership. He highlighted the collaborative efforts made by the teams from the member countries to establish guiding principles, standards, criteria, and procedures for this expansion. India’s stance on the expansion was not opposed, but it sought to establish clear rules governing the inclusion of new members.

China’s Perspective and Potential Rivalry

China’s eagerness to induct countries with a shared view of a multipolar world was perceived as a driving force behind the expansion. Some reports suggested that China aimed to position BRICS as a bloc that could rival the G7, another influential grouping of major economies.

Broader Scope and Pakistan’s Absence

China’s earlier push to include Pakistan in BRICS encountered diplomatic complexities. The larger vision behind this expansion is to embrace more developing nations within the alliance, aligning with the broader objective of enhancing global cooperation and influence.

As BRICS welcomes these new members, it is anticipated that their collective efforts will lead to increased cooperation, economic growth, and shared influence on the global stage. The expansion highlights the alliance’s commitment to fostering collaboration among diverse emerging economies for the betterment of the “Global South.”

For more updates stay tuned to FELA News!

Source: Reuters

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