Home Industry Politics UAE, Saudi Arabia to join BRICS; President Sheikh Mohamed welcomes membership The BRICS grouping has announced an expansion in its ranks with six new members, including UAE, Saudi Arabia, Ethiopia and Egypt by Gulf Business August 24, 2023 Image credit: BRICS SA/Twitter The BRICS nations have invited six new countries to join the bloc. South Africa’s President Cyril Ramaphosa, who acted as the host for the summit, announced that Argentina, Egypt, Ethiopia, Iran, Saudi Arabia, and the UAE have been invited to join the group as part of the first phase of its expansion. The new membership will be effective from January 1, 2024. “As a five BRICS countries, we have reached an agreement on the guiding principles, standards, criteria, and procedures on the BRICS expansion process which has been in discussion for quite a while,” Ramaphosa told a joint media briefing. “We have consensus on the first phase of this expansion process and other phases will follow.” #WATCH | President of South Africa Cyril Ramaphosa announces outcomes of the 15th BRICS Summit, Johannaesburg “We’ve reached an agreement to invite Argentina, Egypt, Ethiopia, Iran, Saudi Arabia and UAE to become full members of BRICS. The membership will come into effect from… pic.twitter.com/Qo5B1jcPOW — ANI (@ANI) August 24, 2023 President Sheikh Mohamed has praised the move. “We respect the vision of the BRICS leadership and appreciate the inclusion of the UAE as a member of this important group,” he wrote on social media platform X, formerly known as Twitter. We respect the vision of the BRICS leadership and appreciate the inclusion of the UAE as a member to this important group. We look forward to a continued commitment of cooperation for the prosperity, dignity and benefit of all nations and people around the world. — محمد بن زايد (@MohamedBinZayed) August 24, 2023 BRICS expansion The debate over the expansion of the grouping – Brazil, Russia, India, China and South Africa – topped the agenda at the three-day summit in Johannesburg. While all members have publicly expressed support for expanding the five-member bloc, reports suggested divisions among the leaders over how much and how quickly. #BRICSza | H.E. President Ramaphosa . Johannesburg II Declaration adopted . The XV Summit has adopted guiding principles on the BRICS EXPANSION.Following countries invited to join . Argentina Egypt Ethiopia Iran Saudi Arabia UAE To take effect from the 1st of January 2024 pic.twitter.com/OOa9uqCXqs — BRICSza (@BRICSza) August 24, 2023 Meanwhile, India’s Prime Minister Narendra Modi was invited to give a speech as India’s successful landing on the Moon co-incided with the ongoing summit. PM Modi congratulated Ramaphosa for the successful summit and said India has always supported the expansion of the grouping. “India has always believed the addition of new members will further strengthen BRICS as an organisation and will give our shared efforts a new impetus. This will also strengthen the belief of many countries in the multipolar world order,” PM Modi said. Tags Brazil BRICS China Global South India Russia Saudi Arabia South Africa UAE 0 Comments You might also like Saudia, Delta Air Lines team up to expand global network Tackling the surge in fraud during UAE’s peak shopping seasons UAE insurance sector reports Dhs2.5bn in profits in 2023: CBUAE OPEC+ panel sticks to output policy, doubles down on compliance