The group of emerging economies BRICS has agreed to admit six new nations to the bloc.
South African President Cyril Ramaphosa who currently holds the rotating presidency of the bloc, said the group “decided to invite the Argentine Republic, the Arab Republic of Egypt, the Federal Democratic Republic of Ethiopia, the Islamic Republic of Iran, the Kingdom of Saudi Arabia, and the United Arab Emirates, to become full members of BRICS."
The memberships would come into effect from Jan. 1, 2024, he added.
Around 40 countries had expressed the desire to join the bloc according to South Africa, while it had received formal expressions of interest from 23 countries, including Argentina, Bolivia, Cuba, Honduras and Venezuela.
The core group of five BRICS (Brazil, Russia, lndia, China and South Africa) has since been discussing the issue of expansion for more than a year, Ramaphosa said, and the new members were invited this week after an agreement was reached at the summit.
