It is official: BRICS Group has six new countries

It is official: BRICS Group has six new countries

During the opening remarks at the 15th BRICS summit's third session, South African President Cyril Ramaphosa stated that the integration into the bloc will be effective from January 1, 2024.

He emphasized that consensus had been reached on the first phase of the expansion process and that subsequent phases would follow.

Furthermore, Ramaphosa noted that all current members had agreed to approve the final declaration of the event – the Johannesburg II Declaration.

The group officially instructed finance ministers and central bank governors to consider the issue of local currencies, payment instruments, and platforms and to submit a report on these matters to the BRICS leaders by next summer.

Russian President Vladimir Putin stated that achieving an agreement on a united BRICS currency was a "challenging task," but he insisted that the bloc would work towards resolving this issue.

In his speech at the previous day's BRICS summit, the Russian President mentioned that Moscow advocated for expanding the use of local currencies instead of the dollar.

Regarding the fate of the BRICS brand, including whether there will be a name change, read HERE.

"This expansion of membership is historical and demonstrates the bloc's determination for unity and cooperation," said Chinese President Xi Jinping during the final session of the summit, emphasizing that the decision was made "unanimously."

UAE and Ethiopia Speak Out

The United Arab Emirates and Ethiopia welcomed the decision of the BRICS leaders regarding expansion and the invitation to join the economic alliance for these two countries.

The President of the United Arab Emirates (UAE), Sheikh Mohamed bin Zayed Al Nahyan, stated today that he respects his country's inclusion in BRICS.

"We respect the vision of BRICS leadership and value UAE's inclusion in the membership of this important group. We look forward to continued commitment, and cooperation for the prosperity, dignity, and well-being of all nations and people around the world," wrote the UAE President on the X platform (Twitter).

Ethiopian Prime Minister Abiy Ahmed announced today on the X platform that the decision of the BRICS member states to invite Ethiopia to join was an "important decision" and that his country wants to collaborate on an "inclusive and prosperous global order," as reported by Reuters.

The United Arab Emirates, Saudi Arabia, Iran, Argentina, Egypt, and Ethiopia have been officially invited to join BRICS, announced South African President Cyril Ramaphosa after the summit of this group in Johannesburg.