South African President Cyril Ramaphosa announced that the BRICS leaders have made the decision to invite Argentina, Egypt, Iran, Ethiopia, the UAE, and Saudi Arabia to become full members of BRICS. This membership is set to commence from January 1, 2024.

Ramaphosa noted that the leaders of BRICS countries are recognizing the opportune moment to employ local currencies and alternate payment systems. They aim to explore ways of enhancing the global financial structure’s stability, reliability, and equity.

This expansion of BRICS through the admission of new members constitutes the initial phase of the group’s enlargement process.

“The BRICS leaders in the 15th BRICS summit have over the past two days had occasion to have discussions both in the retreat form, as well as an in a proper official summit, and in the course of those discussions, have reached a conclusion to adopt the Johannesburg II Declaration as a declaration that encompasses and covers the various issues that the leaders had to decide on,” Ramaphosa said at the BRICS summit in South Africa.

A final declaration has been adopted by the BRICS leaders following the Johannesburg summit. This declaration, known as the Johannesburg II Declaration, encompasses various crucial issues.

Addressing conflicts worldwide, BRICS stands committed to peaceful resolutions through dialogue.

Russian President Vladimir Putin praised President Ramaphosa’s diplomatic skills in discussions about the expansion. He acknowledged the complexity of issues like the single settlement currency but expressed determination to address these challenges.

“The issue of the single settlement currency is a complex issue, but we will move towards solving these problems one way or another,” Putin said at the BRICS summit in South Africa.

Indian Prime Minister Narendra Modi welcomed the invitation extended to new countries to join BRICS, viewing it as strengthening the organization’s foundations.

“India has always fully supported the expansion of BRICS membership. India has always believed that new members will further strengthen BRICS as an organization and give a new impetus to our common efforts… I am glad that our teams have jointly agreed on the guidelines, standards, criteria and procedures for expansion and based on this we have agreed to invite Argentina, Egypt, Ethiopia, Iran, Saudi Arabia and the UAE to BRICS. First of all, I would like to convey my most sincere congratulations to the leaders and peoples of these countries,” Modi said at the BRICS Summit media briefing.

Chinese President Xi Jinping characterized the ongoing expansion of BRICS as a historic event, underscoring the group’s resolve to collaborate with developing nations.

“The current expansion is historic and reflects the determination of the BRICS member states to cooperate with developing countries,” Xi said at the BRICS Summit media briefing.

The decision to expand BRICS aligns with the international community’s expectations and the shared interests of developing countries, according to President Xi.

Sheikh Mohamed bin Zayed Al Nahyan, the President of the UAE, expressed gratitude for the approval of his country’s application to join BRICS, emphasizing the commitment to cooperation for global welfare.

Ethiopian Prime Minister Abiy Ahmed celebrated his nation’s approval for BRICS membership, sharing the news and congratulating Ethiopians on social media.

“Ethiopia’s bid to join the BRICS family endorsed this morning during the 15th BRICS Summit in Johannesburg, South Africa. Congratulations to all Ethiopians!” the office of the Prime Minister said on X, formerly known as Twitter.

The 15th BRICS Summit 2023 in summary:

1. BRICS Summit Details: The BRICS summit, hosted in Johannesburg, is scheduled from August 22 to 24. The event is attended by the leaders of China, India, Brazil, and South Africa. Russian President Vladimir Putin’s participation is virtual, with Foreign Minister Sergey Lavrov representing Russia in person.
2. BRICS Expansion: South African President Cyril Ramaphosa disclosed that the BRICS leaders have collectively decided to invite Argentina, Egypt, Iran, Ethiopia, the United Arab Emirates (UAE), and Saudi Arabia as full members of BRICS. The commencement of their membership is set for January 1, 2024.
3. Use of Local Currencies and Payment Systems: Ramaphosa highlighted the BRICS leaders’ recognition of the present momentum towards utilizing local currencies and alternative payment systems. He stressed their readiness to explore opportunities that enhance the stability, reliability, and fairness of the global financial architecture.
4. Expansion Phases: The incorporation of new members into BRICS represents the initial phase of the group’s expansion process, as stated by Ramaphosa.
5. Adoption of Final Declaration: Ramaphosa announced the adoption of the “Johannesburg II Declaration” following discussions during the summit. This declaration encompasses a range of pivotal issues.
6. Commitment to Peaceful Solutions: In the face of global conflicts, BRICS reaffirms its commitment to resolving issues peacefully through dialogue, Ramaphosa emphasized.
7. Putin’s Recognition and Challenges: Russian President Vladimir Putin commended President Ramaphosa’s diplomatic acumen during the expansion discussions. Putin acknowledged the complexities, including the challenge of establishing a single settlement currency, while expressing determination to overcome them.
8. Indian Prime Minister’s Perspective: Indian Prime Minister Narendra Modi warmly embraced the invitation extended to new countries to join BRICS. He viewed this expansion as a means to fortify the organization’s foundations.
9. China’s Perspective on Expansion: Chinese President Xi Jinping characterized the ongoing expansion of BRICS as a historic milestone. He highlighted the group’s dedication to collaborating with developing nations.
10. Global Expectations and Developing Countries: President Xi stated that the decision to expand BRICS aligns with global expectations and the shared interests of developing nations.
11. UAE President’s Gratitude: UAE President Sheikh Mohamed bin Zayed Al Nahyan expressed appreciation for the approval of his country’s BRICS membership application. He emphasized a commitment to cooperation for the well-being of nations worldwide.
12. Ethiopia’s Joyful Response: Ethiopian Prime Minister Abiy Ahmed shared his joy over Ethiopia’s successful bid for BRICS membership. He conveyed congratulations to all Ethiopians via social media.