Argentina, Ethiopia, Iran, Saudi Arabia, UAE, and Egypt are planning to join BRICS – media says

The Brazilian media UOL is releasing a list of countries that will be admitted into BRICS.

Citing a draft resolution from the upcoming summit in South Africa, it is asserted that the new members will be Argentina, Ethiopia, Iran, Saudi Arabia, the United Arab Emirates (UAE), and Egypt.

This would mean that the grouping will expand by at least two-fold (currently consisting of Brazil, Russia, India, China, and South Africa). It’s noted that 22 countries had expressed official interest in joining.

It’s reported that initially, both Brazil and India were against the expansion, but eventually endorsed it.

Meanwhile, the existing BRICS members state that this current expansion will not be the last.

Xi Jinping views the admission of new members as a “new starting point for the alliance”. He emphasizes that the BRICS countries bear the “responsibility for global stability and security”.

Indian Prime Minister Narendra Modi adds that the expansion of BRICS should be noted by “all institutions of the world, in order to adapt to the changing world”.

Additionally, South African President Ramaphosa has stated that the leaders of the participating countries have tasked their Finance Ministries and Central Banks to explore the possibility of launching payment instruments and platforms based on national currencies. Ramaphosa also calls for a peaceful resolution to the “current conflicts in the world”.