BRICS to expand bloc membership to six other countries; Argentina and Iran to join the group

The 15th BRICS Summit officially announced on Thursday, the 24th, its membership expansion plans. The group has decided to extend formal invitations to six countries to join its ranks, as confirmed by South African President Cyril Ramaphosa: Saudi Arabia, Argentina, the United Arab Emirates, Egypt, Iran, and Ethiopia.

Indonesia, previously on the list, requested a last-minute postponement of the process. This number is smaller than the 23 countries that had initially applied for membership.

The expansion marks the key outcome of the 15th BRICS Summit. The discussion about enlarging the BRICS, which currently includes Brazil, Russia, India, China, and South Africa, held a prominent place on the agenda during the meetings in Johannesburg.

A surprising addition to the list was Ethiopia, a sixth country not previously listed among the priorities presented by Russia, China, India, and South Africa. Brazil did not submit a list.

These six invited nations will need to meet certain conditions to formally join the group starting from January 1, 2024.

Chinese interest

Except for President Luiz Inacio Lula da Silva of Brazil, all other BRICS leaders expressed positive views on the negotiations to expand the group’s membership and indicated their support.

Brazil showed some hesitation toward the expansion, but negotiations resulted in a concession from China in collaboration with India and South Africa. While the official declaration is still pending, diplomats suggest it aligns more closely with what Beijing had previously indicated.

Brazil, India, and South Africa sought a clear expression of support from China for their joint bid to secure a seat on the UN Security Council, despite its perceived unlikeliness.

“New Scenario” for Argentina

Argentinian President Alberto Fernández said he sees a “new scenario” opening up for the country as he welcomed the invitation to join the bloc. He emphasized that becoming a BRICS member will provide a “great opportunity” to strengthen Argentina. The nation is currently grappling with an economic crisis marked by a weakened currency, depleted foreign reserves, and spiraling inflation.

Fernández noted, “We are expanding our prospects for entering new markets, solidifying existing ones, attracting investment, generating employment, and boosting imports.”

Sources: Estadão e Uol 

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