Six more countries will become members of BRICS.: The 15th BRICS summit concluded on August 24, 2023, in Johannesburg, South Africa. It was the first hosted in-person summit since the COVID-19 pandemic. Iran, Saudi Arabia, Egypt, the UAE, Argentina and Ethiopia will become new members of BRICS from 1 January 2024. The last BRICS expansion was held in 2010 with the inclusion of South Africa.
Daily Current Affairs Quiz: August 2023
BRICS members reached an agreement on the guiding principles, standards, criteria and procedures of the expansion process.
Other outcomes of the summit are given below:
- During the summit, it was agreed that the BRICS Finance Ministers and/or Central Bank Governors will consider the issue of local currencies, payment instruments and platforms.
- BRICS members appreciated the progress made in the fields of media, culture, education, sports, arts, youth, civil society and academic exchanges.
- The 10th anniversary of the establishment of the BRICS Business Council was celebrated.
- Members reaffirmed the importance of people-to-people exchanges in enhancing mutual understanding, friendship and cooperation.
- Foreign Ministers have been given the task of further developing the BRICS partner country model and creating a list of prospective partner countries.