Sidebar

The BRICS group, a vital platform for emerging markets and developing countries, has expanded its membership to include Egypt, Ethiopia, Iran, Saudi Arabia, and the United Arab Emirates, effective January 1, 2024.

The BRICS group, a vital platform for emerging markets and developing countries, has expanded its membership to include Egypt, Ethiopia, Iran, Saudi Arabia, and the United Arab Emirates, effective January 1, 2024.

This significant decision, solidified at the August 2023 Johannesburg Summit, underscores the new members' recognized economic potential and strategic significance.

With President Vladimir Putin of Russia set to assume the rotating chairmanship in 2024, the commitment to bolstering multilateralism for global development and security within BRICS. BRICS founding members are advancing the alliance of BRICS as an alternative to the US-led "rules-based order," prioritizing mutual interests and partnerships to foster collective development.

The expansion of BRICS membership will represent over 2.5 billion people and a combined GDP surpassing $16 trillion, signaling potential shifts in global economic and political landscapes.

Argentina's President, Javier Milei, has chosen not to join BRICS. However, the implications of the new members' potential on the economic dynamics of the new BRICS members are yet to unfold.

Initially formed by Brazil, Russia, India, and China in 2006, with South Africa joining in 2010 to complete the acronym, BRICS continues to evolve as a crucial player on the international stage.

The feasibility of the move and its impact on the economic situation for the new BRICS membes remains to be seen.

  • Video
  • Latest News
  • Spotlight
  • Opinion
  • Telling the African Story: Komla Dumor.
  • Africa Straight Up - Official Film.
  • Ethiopian Ancient Architecture and its History.
  • Aliens Visit to Ethiopia Sacred Places.
  • My Love & Pride - The Other Side of Africa.