The expansion is the first time the group has added to its number in 13 years
The BRICS coalition of emerging economies recently endorsed the inclusion of Saudi Arabia, Iran, Ethiopia, Egypt, Argentina, and the United Arab Emirates, signalling a stride toward overhauling an antiquated global order.
Marking its first expansion in 13 years, this move also leaves the door open for future additions as numerous other nations express interest in joining the group, aspiring to rebalance the worldwide stage.
The extension bolsters the economic prowess of BRICS, currently encompassing China, the world’s second-largest economy, alongside Brazil, Russia, India, and South Africa. This step further magnifies the bloc’s stated ambition to advocate for the Global South.
However, pre-existing tensions may persist between members envisioning the bloc as a counterforce to Western influence—chiefly China, Russia, and now Iran—and those maintaining strong affiliations with the United States and Europe.
Chinese President Xi Jinping, long an advocate of BRICS enlargement, hailed this as a momentous juncture.
“This membership expansion is historic,” he said. “It shows the determination of BRICS countries for unity and cooperation with the broader developing countries.”
With the name originally coined by economist Jim O’Neill of Goldman Sachs in 2001, the bloc evolved from an informal four-nation union in 2009 and later welcomed South Africa in its sole prior expansion.
The six incoming nations are set to formally join the coalition on January 1, 2024, as disclosed by South African President Cyril Ramaphosa during a summit held in Johannesburg.
“BRICS has embarked on a new chapter in its effort to build a world that is fair, a world that is just, a world that is also inclusive and prosperous,” Ramaphosa said.
“We have consensus on the first phase of this expansion process and other phases will follow.”
