South Africa says 5 countries confirm joining BRICS grouping

Last Updated02/02/2024

Egypt, Ethiopia, Iran, Saudi Arabia and the United Arab Emirates have confirmed they are joining the BRICS bloc after being invited last year.

The five countries were extended invitations along with Argentina
- At a summit in August in Johannesburg to join the bloc comprising Brazil, Russia, China, India and South Africa.
Members say the move would help reshuffle a world order they view as outdated.
Argentina has since declined the invitation to join.
With respect to the BRICS confirmations, five out of the six have been confirmed.

BRICS is an acronym for the grouping of the world’s leading emerging economies, namely Brazil, Russia, India, China, and South Africa.
In 2001, the British Economist Jim O’Neill coined the term BRIC to describe the four emerging economies of Brazil, Russia, India, and China.
The grouping was formalised during the first meeting of BRIC Foreign Ministers in 2006.
South Africa was invited to join BRIC in December 2010, after which the group adopted the acronym BRICS.
The BRICS brings together five of the largest developing countries of the world
- Representing 41% of the global population, 24% of the global GDP and 16 % of the global trade.