The announced expansion of BRICS is a historic event, the beginning of a new era in world economic relations, the Madagascan newspaper Midi Madagasikara wrote on Friday, commenting on the accession of Egypt, Ethiopia, Iran, Saudi Arabia and the United Arab Emirates to the five-nation grouping.
Midi Madagasikara emphasizes that "Iran's entry, which represents a strategic triumph for Tehran," deserves special attention. As noted in the article, the fact that "about 40 countries have expressed their desire to join BRICS is a testament to the growing importance of developing countries on the world stage".
The BRICS association, "which accounts for a quarter of the world's wealth and 42% of the world's population, can be proud of its attractiveness to other states and its ability to determine economic and geopolitical developments," the article says.
The author of the publication also believes that it is no coincidence that "the US is so wary of BRICS expansion" while "rushing to declare its intention to maintain strong relations with the current members of the association in an attempt to secure its interests".
The BRICS group has undergone two waves of expansion since its inception in 2006. In 2011, South Africa joined the original members, which included Brazil, Russia, India and China. In August 2023, six new members, namely Argentina, Egypt, Ethiopia, Iran, Saudi Arabia and the United Arab Emirates, were invited to join at once.
However, in late December, Argentina declined to join the group. The five new members began full-fledged work within BRICS on January 1 under the chairship of Russia.