CAIRO - 24 August 2023: The "BRICS" group has decided to expand its membership by inviting Saudi Arabia, Egypt, the United Arab Emirates(UAE), Argentina, Iran, and Ethiopia to join starting from January 2024. This step will transform the group into a bloc that holds control over about a third of the global economy. When combined with the $26 trillion GDP of the existing five countries in the group, this constitutes a significant economic force. He emphasized the need to speed up the expansion process to include more countries, considering that "the acceleration process will bring many countries into the BRICS family." He pointed out that BRICS countries should act as nations and enhance international cooperation.

Source: Egypt Today August 24, 2023 16:57 UTC