Six more countries, including Saudi Arabia, Iran, Ethiopia, Egypt, Argentina, and the United Arab Emirates, have joined the BRICS bloc of developing economies.
BRICS, which stands for Brazil, Russia, India, China, and South Africa, is a group of countries aimed at fostering economic ties in the global south. The admission of these six member states during the recent summit signifies a push for a reshuffle of the world order, as BRICS views the current order as outdated.
The inclusion of these new members strengthens BRICS’ authority, given the status of its current members, such as China, the world’s second-largest economy, as well as Brazil, Russia, India, and South Africa.
This expansion, occurring 13 years after South Africa joined in 2010, marks a significant step towards BRICS’ future and provides an opportunity for other willing member states to join.
Chinese President Xi Jinping describes the membership expansion as historic, demonstrating the determination of BRICS countries to unite and cooperate with other developing countries. The aim is to transition from unilateralism, which is seen as outdated, to multilateralism, which represents the new world.
Her Excellency Reem Al Hashimy, the Minister of State for International Cooperation of the UAE, expresses pleasure in joining the BRICS group, recognizing it as a mechanism to promote global peace, stability, and prosperity.
Al Hashimy emphasizes the UAE’s belief in championing multilateralism and actively contributing to important international arenas. This includes engaging with BRICS, participating regularly in the G20 process, and hosting the Conference of the Parties to the UN Framework Convention on Climate Change (COP28) climate conference in November.
Al Hashimy asserts that the UAE stresses the importance of strong multilateral partnerships and cooperation on the international level for global security and prosperity.
“There is a shared commitment to achieving stability and development among BRICS member countries”.