BRICS Set to Open Doors to New Members, Eyes De-Dollarization
BRICS nations announced their intentions to expand their Group during a summit in South Africa. China seeks to grow BRICS to be a peer with the Group of 7 (G7).
Speaking at the summit in Johannesburg on Wednesday, Indian Prime Minister Narendra Modi signaled BRICS was prepared to add new members. “We welcome moving forward with consensus on [expansion],” he said.
President Luiz Inacio Lula da Silva also voiced his support for expansion, including Argentina. “We want BRICS to be a multilateral institution, not an exclusive club,” the Brazilian leader said. Adding,” It is very important for Argentina to be in BRICS.”
South African Foreign Minister Naledi Pandor confirmed the five nations have signed off on a statement that set conditions for new countries joining the bloc. “We have agreed on the matter of expansion.” She continued, “We have a document that we’ve adopted which sets out guidelines and principles, processes for considering countries that wish to become members of BRICS… That’s very positive.”