New Delhi, August 24: Six more countries have been invited to the BRICS summit being hosted by South Africa, marking a notable enlargement of the group of emerging economies. Along with Argentina, Egypt, Ethiopia, and Iran, invitations have been extended to Saudi Arabia and the United Arab Emirates.
Cyril Ramaphosa, the summit’s host, revealed that these nations had been given full membership status inside the BRICS group at a news conference on the summit’s last day.
The strategic expansion of the BRICS alliance, initially made up of Brazil, Russia, India, China, and South Africa, was the main topic of discussion during the 15th BRICS summit in Johannesburg.
Prime Minister Narendra Modi praised President Ramaphosa for organising this historic meeting on the 15th anniversary of BRICS and reaffirmed his unshakable support for the choice to increase the group’s membership.
The Prime Minister said that this action will not only strengthen BRICS as a group but also reenergize group efforts for common goals.
The Prime Minister went on to explain the decision’s importance, saying, “This step will increase the trust of many countries in the idea of a multipolar global order. I am happy that we have defined the expansion’s guiding principles, standards, and norms via combined efforts. We are pleased to welcome Argentina, Egypt, Iran, Saudi Arabia, Ethiopia, and the United Arab Emirates to the BRICS family, building on these foundations.
The Prime Minister said, “I express my warmest congratulations to the leaders and residents of these countries. I am optimistic about the future of our cooperation.
We are in a position to revitalise our collaborative efforts by working together. Each of these nations and India have longstanding historical ties; as a result, there will surely be new opportunities for bilateral collaboration thanks to the BRICS.
The Prime Minister reaffirmed his support for the growth by emphasising that “Other nations expressing interest in BRICS membership will find India actively advocating for their inclusion as partner nations.” This viewpoint is consistent with India’s commitment to encouraging agreement and collaboration within the BRICS framework.
The growth and development of BRICS go beyond a purely diplomatic achievement. It has a universal message that encourages all institutions to change in step with the times. This innovative project may be used as a template for reforming other international organisations from the 20th century.
In his speech from yesterday, Prime Minister Narendra Modi firmly supported the expansion and reaffirmed India’s commitment to BRICS’ common goal of growth.
He also urged the BRICS countries to support the G20 membership of the African Union.
Reflecting on the evolution of the organization, Prime Minister Modi revisited the 2016 definition of BRICS as “Building Responsive, Inclusive, and Collective Solutions.” Given the passage of seven years since then, he envisaged a novel identity for BRICS, encapsulated by the acronym “BRICS: Breaking Barriers, Revitalizing Economies, Inspiring Innovation, Creating Opportunities, and Shaping the Future.” This new vision was embraced as a unifying call for all BRICS partners to actively contribute to its realization.
Various areas responded to the news with excitement. The President of the United Arab Emirates welcomed the decision, expressing keen eagerness to join the ranks of BRICS.
The expanded BRICS alliance carries profound symbolic significance, particularly in the context of China and Russia’s partnership, a matter of note amidst the ongoing Ukraine conflict and the broader China-US rivalry.
Beyond symbolic gestures, the summit also delved into practical policy adjustments, including a comprehensive strategy to transition from trading in the US dollar to utilizing local currencies for inter-BRICS trade. This pragmatic shift underscores the bloc’s evolving economic dynamics and its pursuit of increased autonomy.
