Two African Countries Invited to BRICS
09:50 24.08.2023 (Updated: 11:16 24.08.2023)
South African President Cyril Ramaphosa made the statement during the final day of the 15th BRICS Summit, that is being held in Johannesburg on 22-24 August. On that day, the bloc's leaders are finalizing the results of the summit.
Egypt and Ethiopia have been invited to BRICS on January 1, 2024, South Africa's President Cyril Ramaphosa
stated during the bloc's leaders' speech at a press-conference at the last day of the BRICS summit.
Along with the two African nations, Argentina, Iran, Saudi Arabia and the UAE were invited to join the bloc at the beginning of the following year, according to the president.
"We have decided to invite the Argentine Republic, the Arab Republic of Egypt, the Federal Democratic Republic of Ethiopia, the Islamic Republic of Iran, the Kingdom of Saudi Arabia, and the United Arab Emirates, to become full members of BRICS. The membership will take effect from the first of January 2024," Ramaphosa noted.
According to the South African president, the admission of the new members is the first phase of the group's expansion process.
The president declared that the grouping's leaders have adopted a final declaration following the Johannesburg summit.
"The BRICS leaders in the 15th BRICS summit have over the past two days had occasion to have discussions both in the retreat form, as well as an in a proper official summit, and in the course of those discussions, have reached a conclusion to adopt the Johannesburg II Declaration as a declaration that encompasses and covers the various issues that the leaders had to decide on," Ramaphosa said.
According to him, the BRICS leaders have instructed their finance ministers to consider the issue of local currencies and payment instruments.
"As BRICS, we are ready to explore opportunities for improving the stability, reliability and fairness of the global financial architecture. In this regard, BRICS leaders have tasked their finance ministers and central bank governors [...] to consider the issue of local currencies, payment instruments and platforms," the president said.
In his speech, Indian Prime Minister Narendra Modi stated that India welcomes the invitation of the new nations to join BRICS, this will serve to strengthen the organization.
"India has always fully supported the expansion of BRICS membership. India has always believed that new members will further strengthen BRICS as an organization and give a new impetus to our common efforts. […] I am glad that our teams have jointly agreed on the guidelines, standards, criteria and procedures for expansion and based on this we have agreed to invite Argentina, Egypt, Ethiopia, Iran, Saudi Arabia and the UAE to BRICS. First of all, I would like to convey my most sincere congratulations to the leaders and peoples of these countries," Modi said.
China's leader Xi Jinping
has also said that his nation welcomes new member states to BRICS. The Chinese leader has said that called the current bloc's expansion a historic event that shows determination of five countries to cooperate with developing nations.
"The current expansion is historic and reflects the determination of the BRICS member states to cooperate with developing countries," Xi has stated.
The decision to expand BRICS meets the expectations of the international community and the common interests of developing countries, the Chinese president added.
During the press-conference, Russian President Vladimir Putin stated that the approval of the BRICS final declaration was difficult, including on enlargement, but his South African counterpart showed diplomatic skill when discussing issues of expanding the bloc.
"President Ramaphosa showed amazing diplomatic skill in coordinating all positions, including those related to the expansion of BRICS," Putin said at the summit.
Moreover, Putin noted that the ssue of single settlement currency within BRICS very complicated, but the group will move in this direction.