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In 2022, Argentina formally submitted an application for BRICS membership under Alberto Fernández's government. Argentina was invited to join at the subsequent 2023 summit, but the country declined the offer to join the bloc in the aftermath of pro-Western Javier Milei's victory in that year's presidential election. [18]
BRICS countries committed to study the feasibility of a new common currency or similar, at the 2023 BRICS summit in South Africa. [ 158 ] [ 159 ] [ 160 ] 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.
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.
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 ...
BRICS also has a waiting list of dozens of nations that are ready and willing to join the group amid dissatisfaction with the current, often U.S.-led, world order.
Algeria formally presented a request to join after the Algerian president visit to China in 2023, and was admitted as a member in 2024. [37] Algeria officially has been given membership status of the BRICS New Development Bank (NDB) in September 2024. [38] Potential or prospective members include Colombia, Honduras, and Zimbabwe. [39] [40] [41]
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 ...
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