BRICS will be replenished with six new members
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Saudi Arabia, the United Arab Emirates, Iran, Ethiopia, Egypt and Argentina will become full members of the BRICS from January 1, 2024. This was announced on August 24 by South African President Cyril Ramaphosa at the 15th summit of the organization in Johannesburg. “BRICS has opened a new chapter in its efforts to build a just world that is inclusive and prosperous,” he said.
BRICS decides to expand the organization for the second time. Previously, the association with the name BRIC was formed within the framework of the St. Petersburg International Economic Forum in 2006 by the leaders of Brazil, Russia, India and China. But after South Africa joined it in 2010, the bloc received its current abbreviation. The five member countries represent about 40% of the world’s population, occupy almost 30% of the earth’s land area and share 31% of world GDP at PPP, and after the inclusion of new members, this share could increase to 36%.
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