WORLD: Argentina, Ethiopia, Egypt, Iran, Saudi Arabia, and the United Arab Emirates will now be part of the BRICS group of countries. BRICS group of nations decided on Thursday.

The new membership will be effective from January 1, 2024.

Leaders from Brazil, Russia, India, China, and South Africa (BRICS) supported the expansion of the grouping, the first such expansion since 2010 when South Africa was inducted into the group.

South Africa’s President Cyril Ramaphosa said that Argentina, Egypt, Ethiopia, Iran, Saudi Arabia, and UAE have been invited to join the BRICS as part of the first phase of expansion.

With this expansion, six of the world’s nine largest oil producers are now part of BRICS.

Prez Cyril Ramaphosa announced while issuing the Johannesburg Declaration of the 15th BRICS Summit.

Prime Minister Narendra Modi said, “India has always supported the expansion of BRICS and has always believed that adding new members will strengthen BRICS as an organization.”

President Ramaphosa, as chair of the Summit and of BRICS announced in his opening statement. Later, the President invited his counterparts and colleagues from the BRICS member states to present their statements.

“This summit reaffirmed the importance of BRICS, people-to-people exchanges & enhancing friendship & cooperation…We adopted the Johannesburg two declarations which reflect key BRICS messages on matters of global economic, financial, and political importance. It demonstrates the shared values & common interests that underlie our mutually beneficial cooperation as the five BRICS countries…” Ramaphosa said. (with inputs from Agency)