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BRICS: 5 nations formally be a part of Group of Rising Nations; Verify the checklist right here


South Africa’s international minister stated Saudi Arabia and 4 different nations have accepted the invitation to hitch the BRICS membership of countries that was prolonged throughout a summit final yr.

Minister Naledi Pandor stated that Russia, who takes over as chair of the bloc this yr from South Africa, has obtained written curiosity from 34 nations who wish to be a part of. Saudi Arabia, Iran, Egypt, Ethiopia and the United Arab Emirates at the moment are full members, she stated.

Additionally learn: BRICS Summit 2023 highlights: India, a fastest-growing economy, will be growth engine of world, says PM Modi

“Argentina has written to point that they won’t act on this profitable software by the earlier administration to change into full members of BRICS and we settle for their choice,” Pandor informed a press briefing within the capital, Pretoria, on Wednesday.

Additionally learn: BRICS Summit 2023 Highlights: BRICS invites Saudi Arabia, 5 other nation to join bloc, PM Modi congratulates new members

Leaders from Brazil, Russia, India, China and South Africa agreed to enlarge their BRICS group from Jan. 1 at a summit held in Johannesburg in August.

Additionally learn: BRICS 2024: Russia’s chairmanship begins, Vladimir Putin shares motto, key focus and priorities | 5 points

BRICS international ministers are growing a so-called BRICS associate nation mannequin to accommodate 17 nations who weren’t accepted as full members, Pandor stated.

Additionally learn: We face hard options on the BRICS architecture

The bloc can also be devising a framework to permit members to make use of their native currencies for inter-BRICS commerce. The minister stated that the bloc discovered the present, predominantly dollar-based worldwide fee system to be “unfair and expensive.”

 

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This story has been printed from a wire company feed with out modifications to the textual content. Solely the headline has been modified.

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Printed: 01 Feb 2024, 09:03 AM IST



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