BRICS Expansion: Six New Countries To Join By 2024

Six new countries will join BRICS. This follows from the outcome of the Johannesburg summit, which was attended by the heads of state of Brazil, Russia (via video conference), India, China, and South Africa.

Starting January 1, 2024, new full members will join the “global southern bloc”: Argentina, Egypt, Iran, United Arab Emirates, Saudi Arabia, and Ethiopia.

This was stated by the President of South Africa, the host country, Cyril Ramaphosa at the final press conference. With the entry of new members, BRICS “will represent 36% of world GDP and 47% of the population of the entire planet. This first phase will be followed by another further expansion,” explained Brazilian President Lula da Silva.

Chinese President Xi Jinping, in turn, called for further rapid expansion of the association to promote “more equitable global governance.”

“The BRICS countries independently choose their own development path, jointly defend their right to development, and move in tandem towards modernization, which is the direction of progress of human society and will have a profound impact on the world development process,” Xi Jinping explained, according to a report by China’s Xinhua News Agency. “The BRICS countries stand for fairness and justice in international affairs, stand up for what is right on major international and regional issues, and strengthen the voice and influence of emerging markets and countries.” The Chinese leader also said that the foreign policy of these countries is “independent. The BRICS countries do not trade their principles, do not succumb to external pressure, and do not act as vassals of others.”

There are different interests (even diametrically opposite, as between China and India), but, as Ramaphosa explains, “this is an equal partnership between countries that have different points of view, but share a common vision for a better world.”

The leaders also promised to explore the use of national currencies and payment systems, which could lead to the creation of a single currency. This will be the focus of the next summit, which Russian President Vladimir Putin proposed to hold in Kazan.