Argentina, Saudi Arabia, Ethiopia, Egypt, Iran, Egypt and the United Arab Emirates are invited to join the association.
South African President Cyril Ramaphosa said on August 24 that membership will take effect on January 1, 2024.
The above-mentioned countries will become full members of BRICS. Ramaphosa announced this at the summit of the association. He added that BRICS will not be limited to one phase of expansion.
The South African president called on countries to switch to national currencies and alternative payment systems for international settlements.
According to Brazilian President Luiz Inacio Lula da Silva, the combined GDP of BRICS will amount to 37 percent of the world's gross product after the new countries are admitted.
In the association itself will be able to live 46 percent of the world's population.
Recall that 22 countries have already applied to join BRICS.
Russia intends to organize a BRICS summit in Kazan in 2024.