NEW DELHI: The Brics grouping on Thursday invited Argentina, Egypt, Ethiopia, Iran, Saudi Arabia and the United Arab Emirates (UAE) to become full members of the grouping after leaders of the 17-year-old bloc agreed on principles and criteria for its expansion.
This was the first expansion of the grouping since 2010, when South Africa became the fifth member of Brics.
President Cyril Ramaphosa of South Africa, the current chair of the Brics (Brazil-Russia-India-China-South Africa) grouping, announced the expansion at a news conference that was joined by the leaders of Brazil, India and China. Russian President Vladimir Putin joined the conference on a video link.
Ramaphosa said Brics is inviting Argentina, Egypt, Ethiopia, Iran, Saudi Arabia and the UAE to become full members. Their membership will become effective from January 1, 2024, he said.
He noted that Brics is an equal partnership of countries with diverse views, and the members have reached consensus on the guiding principles and criteria for the enlargement of the grouping. There was also consensus on the first phase of the expansion and the members will work on subsequent phases, he said.
Prime Minister Narendra Modi, in his remarks at the news conference, said India has always fully supported the expansion of Brics and believes the new members will further strengthen the organisation and “give our shared efforts a new impetus”.
{{/usCountry}}Prime Minister Narendra Modi, in his remarks at the news conference, said India has always fully supported the expansion of Brics and believes the new members will further strengthen the organisation and “give our shared efforts a new impetus”.
{{/usCountry}}“This step will also strengthen the belief of many countries in a multipolar world order. I am pleased that our teams have together forged consensus on the guiding principles, standards, criteria and procedures for the expansion. On the basis of this, we have agreed to welcome Argentina, Egypt, Ethiopia, Iran, Saudi Arabia and the UAE into Brics. First of all, I would like to convey my congratulations to the leaders and people of these countries,” PM Modi said.
“I am confident that together with these countries we will be able to infuse a new momentum and energy into our cooperation. India has had very deep and historic relations with all of these countries. With the help of Brics, new dimensions will be added to our bilateral cooperation also,” he said.
In his message to other countries that have expressed a desire to join Brics, PM Modi said India will contribute towards building consensus for them to be a part of Brics as partner countries.
Some 20 to 30 countries had expressed interest in joining the grouping.
People familiar with the matter had said India’s efforts in the expansion process had focused on the inclusion of the country’s strategic partners. Ethiopia is the only one of the new entrants with which India doesn’t have a strategic partnership.
All six new entrants have signed agreements to join China’s Belt and Road Initiative (BRI), which India has not become part of.
Reuters reported this week that Argentina plans to tap a $7.5-billion disbursement from the International Monetary Fund (IMF) to repay China part of the money it borrowed through a currency swap line. Ethiopia has an estimated debt of US$13.7 billion to China, much of it advanced by the China Exim Bank during 2000-2021.
Over the past few months, China has been the main proponent of an aggressive push to expand Brics to make the bloc a counterpoint to Western dominance of world affairs. It has been backed in this by Russia, grappling with its diplomatic isolation because of the Ukraine war.
India’s biggest concern regarding the expansion was that Brics shouldn’t become a China-centric grouping, especially when relations between New Delhi and Beijing are at their lowest ebb due to the military standoff on the Line of Actual Control (LAC).