The Fort Worth Press - BRICS leaders agree to expand membership at summit

USD -
AED 3.672494
AFN 64.999743
ALL 80.761235
AMD 360.982284
ANG 1.789785
AOA 917.000094
ARS 1547.506848
AUD 1.426544
AWG 1.8
AZN 1.697068
BAM 1.737655
BBD 2.013789
BDT 124.482471
BGN 1.747831
BHD 0.377511
BIF 2987.543757
BMD 1
BND 1.278142
BOB 12.12307
BRL 5.460698
BSD 0.999876
BTN 94.576825
BWP 13.727633
BYN 2.983457
BYR 19600
BZD 2.010946
CAD 1.39503
CDF 2314.999866
CHF 0.81448
CLF 0.024532
CLP 965.479702
CNY 6.669799
CNH 6.66659
COP 3229.75
CRC 454.196116
CUC 1
CUP 23.996482
CVE 97.96631
CZK 21.56415
DJF 178.04787
DKK 6.637502
DOP 60.044158
DZD 135.825634
EGP 54.653305
ERN 15
ETB 164.108289
EUR 0.88795
FJD 2.24175
FKP 0.743037
GBP 0.741195
GEL 2.605024
GGP 0.743037
GHS 11.633527
GIP 0.743037
GMD 74.503195
GNF 8859.999896
GTQ 7.640777
GYD 209.490556
HKD 7.844265
HNL 26.874159
HRK 6.76901
HTG 130.993736
HUF 321.798964
IDR 18102
ILS 3.15995
IMP 0.743037
INR 94.510797
IQD 1515.805747
IRR 1883408.498647
ISK 121.310194
JEP 0.743037
JMD 158.490264
JOD 0.709012
JPY 157.938497
KES 129.95052
KGS 87.449977
KHR 4065.567945
KMF 441.000169
KPW 899.999961
KRW 1343.175028
KWD 0.31068
KYD 0.8332
KZT 451.907529
LAK 22510.972511
LBP 89536.844537
LKR 332.702525
LRD 169.971747
LSL 16.458322
LTL 2.95274
LVL 0.60489
LYD 6.411145
MAD 9.767223
MDL 17.932726
MGA 4516.054516
MKD 54.652015
MMK 2099.845134
MNT 3601.453525
MOP 8.0795
MRU 40.672394
MUR 47.009856
MVR 15.455007
MWK 1733.74558
MXN 18.570715
MYR 4.048101
MZN 63.910382
NAD 16.458322
NGN 1346.410288
NIO 36.791229
NOK 9.297399
NPR 151.327626
NZD 1.771905
OMR 0.384504
PAB 0.999964
PEN 3.451055
PGK 4.486835
PHP 63.100501
PKR 276.584484
PLN 3.89515
PYG 6062.867601
QAR 3.645272
RON 4.742802
RSD 104.472028
RUB 81.802231
RWF 1471.300315
SAR 3.756339
SBD 8.051718
SCR 13.835724
SDG 601.506428
SEK 9.703815
SGD 1.276498
SHP 0.745545
SLE 22.909899
SLL 20969.504398
SOS 571.481881
SRD 37.563991
STD 20697.981008
STN 21.767813
SVC 8.74869
SYP 13001.999685
SZL 16.449882
THB 33.434032
TJS 9.223662
TMT 3.51
TND 2.979992
TOP 2.40776
TRY 50.043497
TTD 6.77808
TWD 33.008496
TZS 2647.034973
UAH 45.533522
UGX 4104.696412
UYU 40.202925
UZS 11888.515735
VES 893.768982
VND 25682.5
VUV 119.655093
WST 2.783161
XAF 582.45706
XAG 0.019006
XAU 0.000242506548
XCD 2.70255
XCG 1.801979
XDR 0.707052
XOF 582.45706
XPF 105.958029
YER 236.175026
ZAR 16.354298
ZMK 9001.195056
ZMW 20.278266
ZWL 321.999592
SSP 5745.516508
MXV 2.089813
  • RIO

    -0.3300

    97.04

    -0.34%

  • CMSC

    -0.0400

    20.67

    -0.19%

  • RELX

    0.0000

    33.41

    0%

  • RBGPF

    0.0000

    67.95

    0%

  • BCE

    -0.0700

    21.99

    -0.32%

  • BCC

    -0.0300

    75.66

    -0.04%

  • GSK

    0.8600

    51.08

    +1.68%

  • JRI

    -0.0300

    11.52

    -0.26%

  • NGG

    -0.1200

    76.68

    -0.16%

  • CMSD

    0.0900

    20.54

    +0.44%

  • BTI

    -0.0800

    55.75

    -0.14%

  • AZN

    2.0200

    168.1

    +1.2%

  • BP

    -1.4200

    43.16

    -3.29%

  • RYCEF

    0.4600

    19.7

    +2.34%

  • VOD

    0.0700

    17.02

    +0.41%

BRICS leaders agree to expand membership at summit
BRICS leaders agree to expand membership at summit / Photo: © POOL/AFP

BRICS leaders agree to expand membership at summit

BRICS leaders have agreed to expand the club of major emerging economies and adopted conditions for entry, South Africa said Wednesday, as the bloc pursues greater clout to shape the world order.

Text size:

Calls to enlarge the BRICS -- Brazil, Russia, India, China and South Africa -- has dominated the agenda at its three-day summit in Johannesburg and exposed rifts between members.

China is seeking to rapidly grow the BRICS amid rising competition with the United States but the group's other major power, India, is wary of the intentions of its geopolitical rival.

South African officials say nearly two dozen countries have formally applied to join the BRICS, which accounts for 40 percent of the world's population and a quarter of the global economy.

On Wednesday, South African Foreign Minister Naledi Pandor said BRICS leaders had "agreed on the matter of expansion" and a detailed announcement would be made before the summit's close on Thursday.

"We have a document that we have adopted that sets out guidelines and principles, processes, for considering countries that wish to become members of BRICS," Pandor told state-run Ubuntu Radio.

"That's very positive."

Indian Prime Minister Narendra Modi had told the summit he supported opening the door to new members and "welcomes moving forward with consensus".

"We stand at the cusp of expanding the BRICS family," said South African President Cyril Ramaphosa.

The bloc makes decisions by consensus and no new members have been admitted since South Africa in 2010.

- 'Turbulence and transformation' -

Chinese President Xi Jinping, on just his second trip abroad this year, said expanding the bloc would "pool our strength (and) pool our wisdom to make global governance more just and equitable."

"We gather at a time when the world is undergoing major shifts, divisions, and regrouping. It has entered a new period of turbulence and transformation," said Xi, whose nation represents about 70 percent of the BRICS total GDP.

US officials have played down the likelihood of BRICS emerging as a geopolitical rival, describing the bloc as a "very diverse collection of countries" containing both friends and rivals.

The BRICS are a disparate mix of big and small economies, democratic and authoritarian states, but share a collective desire to challenge the Western-led global order they say does not serve their interests or rising clout.

The summit has underlined divisions with the West over the war in Ukraine, and the support Russia enjoys from its BRICS partners at a time of global isolation.

South Africa, China and India have not condemned Russia's invasion while Brazil has refused to join Western nations in sending arms to Ukraine or imposing sanctions on Moscow.

Russian President Vladimir Putin, who faces an international arrest warrant over alleged war crimes in Ukraine, was the only BRICS leader not to attend in person, and addressed the summit via video link where he railed against sanctions.

Russia was "desperate for friends and partners so it's not surprising that they are so keen to have an expansion," said Gustavo de Carvalho, senior researcher at the South African Institute of International Affairs.

- BRICS divide -

Analysts said that in considering new members, Brazil, South Africa and India would have to balance a desire for good ties with China and Russia against the risk of estranging the United States, a major trading partner.

Like the BRICS themselves, the countries applying vary greatly, from G20 giants like Indonesia and Saudi Arabia to isolated states like Iran that are openly hostile to the United States and its allies.

Some 50 heads of state and government have joined BRICS leaders in Johannesburg.

BRICS leaders say the level of interest was proof its message resonated deeply in the "Global South" -- a broad term referring to nations outside the West.

Brazil's President Luiz Inacio Lula da Silva, who has championed the BRICS development bank as an alternative to the Washington DC-based lending institutions, said he supported the entry of Argentina.

But the South American powerhouse feared "diluting" the influence of BRICS should it expand too quickly, said Carvalho.

A.Williams--TFWP