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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.
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 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 ...
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 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]
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 ...
Algeria formally presented a request to join after the Algerian president visit to China in 2023, and was admitted as a member in 2024. [36] Algeria officially has been given membership status of the BRICS New Development Bank (NDB) in September 2024. [37] Potential or prospective members include Colombia, Honduras, and Zimbabwe. [38] [39] [40]
BRICS—originally made up of just Brazil, Russia, India, China, and South Africa—is going to need a new name. After not adding any new members for 13 years, the non-Western international group ...