In a move aimed at bolstering its strategic influence in response to Western dominance, the BRICS bloc, comprising top emerging economies like India, Russia, and China, has announced the inclusion of five new full members.

As Moscow took over the BRICS presidency, Russian President Vladimir Putin declared that the group has expanded to a 10-nation body, with Egypt, Ethiopia, Iran, Saudi Arabia, and the United Arab Emirates joining as new members. This development reflects a concerted effort by BRICS to strengthen its global standing and influence.

During the BRICS summit in Johannesburg in August, the leaders of the top emerging economies approved a proposal to include six new countries, including Argentina, into the bloc, effective from January 1. However, Argentina's President, Javier Milei, recently declared the withdrawal of his country from becoming a member of the BRICS (Brazil-Russia-India-China-South Africa).

In his address, Russian President Vladimir Putin announced that Egypt, Ethiopia, Iran, Saudi Arabia, and the United Arab Emirates have officially joined BRICS as new full members. Putin emphasized that this development signifies the increasing authority of the association and its expanding role in international affairs.

The Russian President highlighted that BRICS continues to attract a growing number of supporters and like-minded countries who share its core principles, including sovereign equality, openness, consensus, a commitment to forming a multipolar international order and advocating for a fair global financial and trading system.

Established in September 2006 with the original members being Brazil, Russia, India, and China (BRIC), the bloc was later renamed BRICS after South Africa became a full member in September 2010. Comprising Brazil, Russia, India, China, and South Africa, BRICS represents a significant quarter of the global economy and has played a crucial role in driving global economic growth over the years.

Putin, in his remarks, outlined that during Russia's 2024 BRICS chairmanship, the focus will be on positive cooperation and strengthening multilateralism for equitable global development and security. The emphasis will be on integrating new participants while considering interest from around 30 other countries to join the BRICS agenda. Russia commits to promoting partnerships across politics and security, economy and finance, and cultural and humanitarian contacts within BRICS.

Putin outlined that during the Russian presidency of BRICS, there will be a focus on enhancing foreign policy coordination among member countries and collectively addressing challenges to international and regional security. Priorities will include promoting cooperation in science, high technology, healthcare, environmental protection, culture, and sports.

He announced that more than 200 events of varying levels and types would be conducted in various Russian cities as part of the chairmanship. Putin encouraged representatives from all countries interested in collaborating with BRICS to participate in these events. The pinnacle of the chairmanship will be the BRICS Summit in Kazan in October.

Image source: Times of India