Five Global South countries officially join BRICS in 2024: summary  

What we know

Saudi Arabia, the United Arab Emirates, Egypt, Iran, and Ethiopia are officially members of BRICS, a key platform for emerging markets and developing countries.

The membership commenced on January 1, 2024, after previous membership requests and a formal invite of the five new members in August 2023 during a Summit in Johannesburg.

This is a recognition of the five countries' economic potential and strategic positions and increases BRICS economic expansion with a population of over 2.5 billion and a collective GDP of over $16 trillion.

It is expected that this addition will help with the shaping of global economic and political dynamics in the coming years.

Brics is an intergovernmental organisation established in 2009 and comprises Brazil, Russia, India, China, and South Africa.

What they said

Russia’s President, Vladimir Putin who is Chairman of the group in 2024, has said that the group is committed to “strengthening multilateralism for equitable global development and security.” According to local news outlet Daily News Egypt, Russia will host over 200 political, economic, and social events in 10 cities this year. He further expressed optimism that BRICS activities will positively impact the international system.