BRICS Mulls New Expansion
TEHRAN (Tasnim) – The BRICS group of emerging economies made a major announcement on a new expansion of the 9-member bloc.
The six countries that received the BRICS invitation letter in 2023 are Saudi Arabia, the UAE, Argentina, Egypt, Iran, and Ethiopia.
However, Argentina was the first country to decline the membership as the newly-elected president Javier Milei is skeptical about the bloc. The expansion has now made BRICS into a 9-member bloc leading it to grow financially stronger.
On the other hand, Saudi Arabia has yet to accept the invitation and is still evaluating the pros and cons of joining BRICS.
Subsequently, on the heels of the 16th summit in Russia’s Kazan region in October, South Africa’s BRICS ambassador to Russia Mzuvukile Maqetuka made an announcement about another round of possible expansion, watcher.guru reported.
Maqetuka confirmed that BRICS “will definitely expand further” and an announcement could be made in October 2024.
Therefore, another round of BRICS expansion could be a reality this year making the alliance much more stronger financially, the report added.
