The five major emerging economies of Brazil, Russia, India, China, and South Africa, has announced Argentina, Egypt, Ethiopia, Iran, Saudi Arabia and UAE as. new members on Thursday.
The bloc refered to as BRICS started its 15th BRICS Summit of Heads of State and Government started Tuesday, August 22, and is to end Thursday, August 24 at the Sandton Convention Centre, Johannesburg, South Africa.
South Africa’s president, Matamela Ramaphosa, while making the announcement said BRICS itself is a diverse group of nations. It is an equal partnership of countries that have differing views but have a shared vision for a better world.
He said that the five BRICS countries, have reached agreement on the guiding principles, standards, criteria and procedures of the BRICS expansion process, which has been in discussion for quite a while
