2023-12-30 11:22:51
5 more countries join the BRICS group in the new year. Countries like Egypt, Ethiopia, Iran, Saudi Arabia and UAE will become members of BRICS from January 1. With the arrival of new members, it is indicated that the name of the BRICS group will be BRICS+ from now on. Experts believe that the arrival of new countries will open new avenues for economic cooperation.
The ‘BRICK’ group was created in 2006 by Brazil, Russia, India and China. Later in 2010, when South Africa also joined the association, it became ‘BRICS’. The BRICS alliance was originally formed as a counterweight to Western-dominated economic and political organizations. It is estimated that with more countries from Africa, Middle East and Asia participating in BRICS, the influence of Western hegemony will decrease.
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The BRICS countries hold an annual summit. In 2023, the summit was chaired by South Africa. Russia will chair the summit in 2024. Currently, the BRICS countries account for 41 percent of the global population, 24 percent of global GDP, and 16 percent of global trade.
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