The group has welcomed 5 new members, with additional growth anticipated later this 12 months
Saudi Arabia on Tuesday formally introduced that it has joined the BRICS+ group, with the information carried by state TV.
Riyadh has been in negotiations on its accession to the group for months, with International Minister Prince Faisal bin Farhan stating final August that each one the main points on the transfer can be evaluated earlier than an “acceptable resolution” was taken.
On the time, the overseas minister mentioned the BRICS group was “a useful and necessary channel” for bolstering financial cooperation between member nations.
The group, which till January 1 included Brazil, Russia, India, China and South Africa, welcomed 5 new members on New Yr’s Day. Aside from Saudi Arabia, it now contains Egypt, Ethiopia, Iran and the UAE. One other potential member, Argentina, made an abrupt U-turn on its accession plans after the presidential election within the nation was received by Javier Milei late final 12 months.
The group is anticipated to develop even bigger later this 12 months, with Venezuela searching for to change into a everlasting member on the subsequent summit in Russia in October 2024.
Moscow has assumed the one-year rotating presidency of the group for the 12 months, with President Vladimir Putin pledging to “facilitate the harmonious integration” of latest companions. Some 30 different nations have already expressed their intent in taking part within the group’s actions in a single kind or one other, Putin famous.
Venezuelan President Nicolas Maduro spoke on the matter with the Spanish-language version of Le Monde Diplomatique in an interview revealed on Monday, arguing that the group represents “humanity’s future,” given its huge financial energy.
In response to the IMF figures, the expanded BRICS now surpasses the G7, an off-the-cuff group of the main Western nations, when it comes to GDP at buying energy parity, accounting for 36% of the world whole.
Maduro additionally slammed the transfer by his Argentine counterpart, arguing that the choice to scrap the BRICS+ plans was “one of many clumsiest and stupidest issues Milei has accomplished” to his nation so far. Along with his resolution, Milei has successfully taken the nation again to the nineteenth century, searching for to show it right into a “vassal of the imperial unipolar world,” Maduro advised.
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