The BRICS group, a key platform for emerging markets and developing countries, has officially welcomed five new members: Egypt, Iran, Saudi Arabia, the United Arab Emirates, and Ethiopia. This expansion comes after numerous membership requests in recent years, reflecting the growing importance and influence of the BRICS group. The Johannesburg Summit in August 2023 formally invited the five new members to join, recognising their economic potential and strategic positions within their respective regions. These goals were reiterated by Putin at his year-end press conference, where he pledged to effectively implement the decisions made at the Johannesburg Summit, including those related to expanding BRICS membership. It remains to be seen how this expanded BRICS will shape global economic and political dynamics in the years to come.

Source: Daily News Egypt January 01, 2024 22:42 UTC