The five BRICS developing nations will admit Saudi Arabia, Iran, Ethiopia, Egypt, Argentina and the United Arab Emirates, they said on Thursday, a move aimed at growing the clout of the bloc as it pushes to rebalance the prevailing world order. BRICS – whose acronym was originally coined by an economist at Goldman Sachs, currently comprises Brazil, Russia, India, China and South Africa. PLEDGE TO REBALANCE WORLD ORDERIn a reflection of the bloc’s growing influence, United Nations Secretary-General Antonio Guterres attended Thursday’s expansion announcement. “It shows the determination of BRICS countries for unity and cooperation with the broader developing countries.”More than 40 countries have expressed interest in joining BRICS, say South African officials, and 22 have formally asked to be admitted. “The expansion and modernization of BRICS is a message that all institutions in the world need to mould themselves according to changing times,” he said.

Source: Ethiopian News August 24, 2023 17:21 UTC