Summary:
- BRICS has extended invitations to six nations, including Saudi Arabia and Iran, to join the bloc.
- The expansion process's first phase has gained consensus, with further phases expected to follow.
- The invited nations, such as Egypt and the UAE, are set to become full BRICS members starting from January 1, 2024.
We have reached agreement on the guiding principles, standards, criteria and procedures of the BRICS expansion process, which has been in discussion for quite a while. We have consensus on the first phase of this expansion process, and other phases will follow. We have decided to invite the Argentine Republic, the Arab Republic of Egypt, the Federal Democratic Republic of Ethiopia, the Islamic Republic of Iran, the Kingdom of Saudi Arabia and the United Arab Emirates. To become full members of BRICS, the membership will take effect from 1 January 2024.