Egypt has become the newest member of the BRICS, a group of emerging economies that includes Brazil, Russia, India, China, and South Africa. Egypt’s business community welcomed the move, saying it would open new opportunities for trade and investment with the BRICS countries and other regions. He said that the BRICS alliance aims to exchange goods and increase trade volume and that Egypt would be a strong addition to the group. Abdel Hamid added that joining the BRICS would also end the unipolar domination of global trade and usher in a new era of multi-currency transactions. He stressed that Egypt needs to be flexible and proactive to benefit from its membership in the BRICS.

Source: Daily News Egypt August 27, 2023 12:58 UTC