The BRICS summit concluded in August 2023 with great success. The member countries – Brazil, Russia, India, China, and South Africa – collectively celebrated the achievements and advancements made in various sectors such as economy, trade, and technology. Additionally, the summit marked the beginning of a new chapter for the association as they welcomed six new member countries joining from January 1, 2024. These new members include Argentina, Saudi Arabia, Ethiopia, the UAE, Egypt, and Iran.
The addition of these six countries is a significant milestone for BRICS as it expands its reach and influence across different regions of the world. With the inclusion of these new members, BRICS now represents almost half of the world’s population, making it a formidable force in global politics and economics. The expansion of the association will also open up new opportunities for collaboration and cooperation in various fields, including infrastructure development, energy, and sustainable growth.
Argentina, with its strong agricultural sector and vast natural resources, brings a wealth of potential to the BRICS association. The country’s participation will strengthen the agricultural and trade ties within the group, leading to mutually beneficial outcomes for all member countries.
Saudi Arabia, a major player in the oil and energy sector, will bring its expertise and resources to the table, further enhancing the energy security and sustainability initiatives of BRICS. The country’s strategic location and influence in the Middle East will also be instrumental in shaping the association’s policies and partnerships in the region.
Ethiopia, a rapidly growing economy in Africa, will add a new dimension to BRICS’ focus on sustainable development and inclusive growth. The country’s experience in agriculture, manufacturing, and infrastructure development will contribute to the association’s efforts in addressing the challenges of poverty, inequality, and environmental sustainability.
The UAE, a global hub for trade, finance, and innovation, will bring its expertise in infrastructure development, renewable energy, and technology to BRICS. The country’s strategic partnerships and investment opportunities will further bolster the association’s economic and technological capabilities.
Egypt, with its rich history and strategic location, will play a key role in strengthening BRICS’ presence in the African continent. The country’s experience in governance, culture, and tourism will also contribute to the association’s efforts in promoting people-to-people exchanges and cultural cooperation.
Iran, a regional power in the Middle East, will bring its geopolitical influence and expertise in various sectors such as energy, transportation, and technology to BRICS. The country’s participation will open up new avenues for cooperation and partnership, especially in addressing regional security and stability issues.
Overall, the inclusion of these six new members marks a significant turning point for BRICS, as it solidifies its position as a major force in global affairs. The expanded association will continue to work towards enhancing economic cooperation, promoting sustainable development, and addressing common challenges, with the ultimate goal of creating a more inclusive and balanced world order.
In the wake of the BRICS summit, the world is eagerly awaiting the impact of the expanded association and the opportunities it will bring for global development and cooperation. With the collective strength and commitment of its member countries, BRICS is poised to make a lasting and positive impact on the world stage.