Following the conclusion of the 2023 BRICS meeting held in Johannesburg, South Africa, the official summit declaration announced that in January 2024 the BRICS group of emerging market economies would undertake in the words of the Chinese President an ‘historic’ expansion and admit five new member countries: Egypt, Ethiopia, Iran, Saudi Arabia and the United Arab Emirates (Argentina was also invited to join, but it’s new President Javier Milei declined the offer).
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