BRICS Bloc Expands with Invitation of Six New Members
Johannesburg, South Africa – The BRICS bloc, consisting of Brazil, Russia, India, China, and South Africa, has announced that it will be expanding by inviting six more nations to join as full members. The countries invited to join are Argentina, Egypt, Ethiopia, Iran, Saudi Arabia, and the United Arab Emirates. This move is aimed at strengthening the coalition of developing nations and better representing the interests of the Global South on the world stage.
Before the start of the annual summit in South Africa, over 40 countries had expressed interest in joining BRICS, with 23 formal applications. The six invitees were selected after the BRICS countries reached a consensus on the criteria and procedures for expansion. However, specific details regarding these criteria were not provided.
The addition of Saudi Arabia, Iran, UAE, and Egypt has raised concerns about the bloc becoming Middle East-centric. Analysts argue that this expansion will have geopolitcal and geostrategic implications. For example, China’s role in brokering the restoration of ties between Saudi Arabia and Iran highlights its growing influence in the region. The expansion list is also considered energy-centric, as countries like India and China seek to reduce their vulnerability to the cost of oil and explore alternative energy pricing mechanisms.
The BRICS expansion aims to open up new avenues for trade and promote the use of local currencies, reducing reliance on the US dollar. Iran, in particular, stands to benefit greatly from a trading regime outside of dollar dominance. It also serves as a statement that Iran is not as politically isolated as the United States would like it to be.
While the expansion of BRICS has raised questions about its implications for the current global order, analysts believe that the group has the potential to become a significant voice for the reform of global governance arrangements. The inclusion of Iran sends a powerful message to the West that their problems are not the problems of the Global South.
However, analysts caution against attributing too much importance to this expansion, emphasizing that BRICS is still a club of 11 members and not a united political front. Nonetheless, the significant interest expressed by 40 countries indicates the incremental expansion of BRICS, and its future direction remains uncertain.