Brics chair, President Cyril Ramaphosa announced the bloc’s expansion, which includes two African country
The inclusion of oil-rich Saudi Arabia is considered a big coup for the Brics alliance, as it positions itself as a powerful force against the West’s hegemony. Of the new members, Saudi Arabia has the largest GDP.
However, the fossil fuel-powered economy’s addition does raise questions about the bloc’s commitment to its climate goals. Ramaphosa said the Brics leaders have tasked their foreign ministers to further develop the Brics partner country model and a list of prospective partner countries and report by the next summit.reported that South Africa supported Saudi Arabia, the United Arab Emirates, Egypt and Iran to become permanent members, according to high level diplomats.
He noted that the Brics leaders have tasked their finance ministers and central bank governors to consider the issue of local currencies, payment instruments and platforms and to report back by the next summit.
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