Talks of expansion have dominated the three-day annual summit of major emerging economies in Johannesburg. Johannesburg, South Africa – Saudi Arabia and Iran are among six countries invited to join BRICS as new members next year, South African President Cyril Ramaphosa has announced on the final day of a summit of the group that considers itself a counterweight to Western powers. Argentina, Egypt, Ethiopia, Iran, Saudi Arabia and the United Arab Emirates have been invited to join as full members from January 1 next year. Other BRICS countries were initially more ambivalent, but leaders came out in vocal support of the plan this week. The grouping of emerging economies has been in formal existence for 15 years.

Source: Ethiopian News August 24, 2023 19:45 UTC