New kids on the bloc
The Light|Issue 38: October 2023
More countries joining BRICS alliance
PAUL BENNETT
New kids on the bloc

BRICS emerging alliance Brazil, Russia, India, China, and South Africa - recently held an important meeting in Johannesburg to cement their growing global economic influence.

The summit also called for a 'comprehensive reform of the UN, including the Security Council'.

The meeting in August was the 15th annual BRICS summit.

During the two-day meeting, Russian leader Vladimir Putin said: "Over the past ten years, mutual investment between the BRICS member states has increased by six times. Their total investments in the world economy have doubled, while cumulative exports account for 20% of the global total." Before the important summit, Chinese President, Xi Jinping, stated the talks would "strengthen cohesion and cooperation among developing countries to an even higher level".

At a press conference after intensive BRICS meetings, South African President, Cyril Ramaphosa, outlined the key outcomes: "These include the need for beneficial economic growth, sustainable development, and reform of multilateral systems. As the five BRICS countries, we have reached agreement on the guiding principles, standards, criteria, and procedures of the BRICS expansion process, which has been under discussion for quite a while. We have consensus on the first phase of this expansion process, and further phases will follow." From January 1, 2024, President Ramaphosa reported that oilrich Saudi Arabia, United Arab Emirates as well as Argentina, Egypt, Ethiopia, and Iran will become full members of the expanding BRICS coalition.

Esta historia es de la edición Issue 38: October 2023 de The Light.

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Esta historia es de la edición Issue 38: October 2023 de The Light.

Comience su prueba gratuita de Magzter GOLD de 7 días para acceder a miles de historias premium seleccionadas y a más de 9,000 revistas y periódicos.