6 new countries to join BRICS, including Iran and Saudi Arabia
Recently the members of ‘BRICS’ have announced the expansion of the BRICS group by welcoming 6 (six) new countries.
The first phase of expansion includes Argentina, Egypt, Ethiopia, Saudi Arabia, the Islamic Republic of Iran and the United Arab Emirates, which will officially become full members of BRICS from 1 January 2024.
15th BRICS Summit:
- The 15th BRICS summit was held in Johannesburg (South Africa) from 22 to 24 August. The addition of these six new members has been announced at the end of this 15th BRICS summit.
- It is to be noted that for the first time since 2019, the leaders of BRICS countries Brazil, Russia, India, China and South Africa appeared on one stage in this event.
- The summit is the first BRICS summit to be held in person after the emergence of the coronavirus pandemic and subsequent global sanctions.
- The Prime Minister of India also participated in the ‘BRICS-Africa Outreach and BRICS Plus Dialogue’ in Johannesburg on August 24, 2023.
Importance of joining BRICS as a member:
- The joining of new members will strengthen the organization, and it will help in maintaining and strengthening the multilateralism system.
- Let us tell you that this group was earlier expanded in 2010, when South Africa was included. Then it became BRIC to BRIC.
- The expansion of BRICS is part of a plan to build dominance and reshape global governance into a “multipolar” world order that places the voice of the Global South at the center of the world agenda.
- The inclusion of Saudi Arabia, the United Arab Emirates, Iran and Egypt marks the first representation of MENA (Middle East and North Africa) in the group, and the inclusion of Argentina was supported by its member Brazil.
- The inclusion of Iran, Saudi Arabia and the United Arab Emirates assumes special significance as all three will represent both sides of the oil-rich Gulf in BRICS.
- Originally composed of Brazil, Russia, India and China, BRICS was conceived as a global organization of major economies playing an increasingly important role in the post-Cold War world order.
Challenges:
- There is a lack of trust among the present 5 member countries of BRICS. Also, there is no consensus among them on the standards, norms and procedures related to membership expansion. The India-China border dispute is an example of this.
- Differences are seen among its member countries on global issues.
- Authoritarian regimes exist in BRICS member countries like China and Russia.
- Sometimes BRICS is considered as an anti-Western group. This perception may challenge its integration with the world order.
- There are different economic and political restrictions on the existing members of BRICS and those who are proposed to become members. This can cause financial hindrance.
BRICS:
- BRICS is the name of an organization of five major emerging economies of the world. This organization includes Brazil, Russia, India, China and South Africa. The BRICS Summit is chaired every year on behalf of its member states.
- The conference is hosted by five countries every year. South Africa is hosting the 2023 BRICS summit.
Source – Indian Express
