New Delhi: On Thursday, the heads of state of the BRICS countries resolved to fully welcome Argentina, Egypt, Ethiopia, Iran, Saudi Arabia, and the United Arab Emirates as members of the organisation, which is often considered as a counterweight to Western powers.
On the penultimate day of the annual BRICS summit, which now consists of Brazil, Russia, India, China, and South Africa, South African President Cyril Ramaphosa announced the decision to ask the six countries to join the group as the new members.
Ramaphosa, joined by Prime Minister Narendra Modi, Chinese President Xi Jinping, and Brazilian President Luiz Inacio Lula da Silva, told reporters in Johannesburg, "The new membership will take effect from January 1, 2024."
According to the South African president, the "guiding principles, standards, criteria, and procedures of the BRICS expansion process," which had been up for debate for some time, had now been settled.
We've reached an agreement on the first step of this expansion, and more will come later, he said.
Currently, South Africa is serving as BRICS' president.
"We have 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," he continued.
Modi said in a press release that the "expansion and modernization" of BRICS should serve as a warning to other global organisations that they must adapt to survive.
India has consistently advocated for other members to join the BRICS. According to him, "India has been of the view that the addition of new members will further strengthen BRICS as an organisation, and give new impetus to all our common endeavours."
The prime minister has stated that many countries will have more faith in the multipolar international order as a result of the decision to enlarge the union.
Brazil, Russia, India, and China (BRIC) formed the initial grouping in September 2006. As of September 2010, when South Africa was admitted as a full member, the group's name was changed to BRICS.
At the present time, the BRICS account for 41% of the world's population, 24% of its GDP, and 16% of its total commerce. The member countries of BRICS have been crucial to global economic progress.
President Xi of China called the BRICS expansion a "new starting point" for collaboration inside the organisation.
"It will bring new vigour to the BRICS cooperation mechanism, further strengthening a force for world peace and development," he said during a press briefing.
Russian President Vladimir Putin praised the growth in a video message.
Ramaphosa added that the BRICS nations appreciated the efforts of other nations to form partnerships with the organisation.
Foreign ministers have been instructed to expand on the BRICS partner country model and compile a list of potential partner countries before the next summit.
"Through this Summit, BRICS has embarked on a new chapter in its effort to build a world that is fair, world that is just, a world that is also inclusive and prosperous," he said.
To better the "stability, reliability, and fairness of the global financial architecture," Ramphosa said the BRICS are eager to investigate potential avenues for doing so.
According to him, the leaders at the BRICS summit decided to have the problem of local currencies, payment instruments, and platforms looked at by the BRICS finance ministers and Central Bank Governors, who will then report back to the leaders at the next summit.
We worry about wars that haven't ended in many places. The South African leader has reaffirmed his country's dedication to "the peaceful resolution of differences and disputes through dialogue and inclusive consultation."
"We addressed our expectations for the BRICS economic partnership to generate tangible benefits for our communities and deliver viable solutions to common challenges faced by the global South," he said.
We discussed our hopes for BRICS to become an advocate for the issues facing people in the Global South. He also said, "We need reform of global organisations, which includes the need for positive economic growth and sustainable development.
According to South Africa's president, the BRICS have reaffirmed their support for inclusive multilateralism and the rule of law.—Inputs from Agencies