Leaders of BRICS nations addressed the media on the Johannesburg Declaration on Thursday morning. [Picture: Nasreen Naidoo/Salaamedia]
Brazil, Russia, India, China and South Africa, collectively known as BRICS, will soon welcome oil-rich nations from the global south into the fold. Argentina, Saudi Arabia and Iran have been admitted into the bloc.
Expansion was high on the agenda as the leaders gathered over three days in Johannesburg. Announcing the Johannesburg Declaration to a packed press contingent, South Africa’s Cyril Ramaphosa lauded the consensus on expansion as being “true to the BRICS spirit” and “commitment to inclusive multilateralism”.
“We have decided to invite the Argentine Republic, the Arab Republic of Egypt, the Federal Democratic Republic of Ethiopia, the Islamic Republic of Iran, the Kingdom of Saudi Arabia and the United Arab Emirates to become full members of BRICS from 1 January 2024,” he said.
This announcement meant that the bloc, already home to 40% of the world’s population, will collectively control the majority of the world’s oil reserves once the additional countries assume full membership next year.
Ramaphosa added that the foreign ministers of BRICS nations were tasked with preparing a list of prospective partner countries. They will be expected to report back by the next Summit, set to take place in Kazan, Russia, next year.
