On Thursday morning BRICS chairperson, President Cyril Ramaphosa, announced that six countries had been granted full membership into the organisation.
JOHANNESBURG - Heads of state from BRICS countries say the expansion of the bloc is a tipping point in the global economy of emerging markets.
They are top oil exporters Saudi Arabia, the United Arab Emirates and Iran, along with developing economies in Africa and Latin America - Egypt, Ethiopia and Argentina.The last time the BRICS organisation accepted a new member was in 2010 when South Africa was granted a full membership and BRIC was later renamed BRICS.China state president, Xi Jinping, said the new members would add renewed vigour into the bloc and further strengthen its mission for world peace and development.
"This membership expansion is historic. It shows the determination of BRICS countries for unity and cooperation with the broader developing countries. It meets the expectations of the international community and the common interests of emerging market countries and developing countries." Indian Prime Minister Narendra Modi said the expansion of BRICS was a message to all global institutions to adapt themselves to changing times.
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