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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. [ 159 ] [ 160 ] [ 161 ] 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 ...
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.
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 ...
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.
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]
Saudi Arabia has not yet officially joined the BRICs bloc of developing countries, the kingdom's minister of commerce said in a panel at the World Economic Forum in Davos on Tuesday. "Saudi Arabia ...