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BRICS countries committed to study the feasibility of a new common currency or similar, at the 2023 BRICS summit in South Africa. [ 146 ] [ 147 ] [ 148 ] Fair and easier international trade , as well as a major reduction in costs of transactions , would be some of the reasons for the countries to forge a currency union.
The BASIC countries (also Basic countries or BASIC) are a bloc of four large newly industrialized countries – Brazil, South Africa, India and China – formed by an agreement on 28 November 2009. The four committed to act jointly at the Copenhagen climate summit , including a possible united walk-out if their common minimum position was not ...
Saudi Arabia was invited to join at the 15th BRICS summit, but has not yet formalised its approval to become a BRICS member. [ 9 ] While Egypt , Ethiopia , Iran , and the United Arab Emirates were not admitted as members during the 15th BRICS summit, they were among 22 countries applying for membership.
Six new countries including Saudi Arabia have been invited to join the Brics bloc of developing nations, South Africa has announced, after three days of closed-door discussions between members ...
Six new BRICS countries were invited during the 2023 summit last August. Among those invited only Argentina declined to join, following the election of a new far-right administration.
The BRICS alliance — which is composed of Brazil, Russia, India, China and South Africa — is set to invite Argentina, Egypt, Ethiopia, Iran, Saudi Arabia and the United Arab Emirates to join ...
The 2023 BRICS summit was the fifteenth annual BRICS summit, an international relations conference attended by the heads of state or heads of government of the five member states: Brazil, Russia, India, China, and South Africa. [2] [3] South African President Cyril Ramaphosa also invited the leaders of 67 countries to the summit. [4]
Egypt, Ethiopia, Iran, Saudi Arabia and the United Arab Emirates have confirmed they are joining the BRICS bloc after being invited last year, South Africa's Foreign Minister Naledi Pandor said on ...