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The Brics consortium, consisting of Brazil, Russia, India, China, and South
Africa, has unveiled its intention to expand its membership by admitting six new
nations. This significant enlargement, set to take effect from January 1, 2024,
includes Argentina, Ethiopia, Iran, Saudi Arabia, Egypt, and the UAE.
At its summit in South Africa, the group emphasized the historic nature of
this expansion, with Chinese President Xi Jinping asserting that it would
invigorate Brics' cooperation mechanism and
enhance global peace and development efforts.
The expansion came after lengthy deliberations and exposed differences within
the consortium, but the group managed to reach a consensus on the principles and
criteria for admitting new members.
This move signifies a reconfiguration of the global order and challenges the
dominance of western states and institutions, according to Brics leaders. With
the addition of these six nations, Brics would encompass 46% of the world's
population and a significant portion of its economic output. |
