The announcement about the possible expansion of the BRICS economic group, which was anticipated for Wednesday evening, has been postponed. This decision came after a private meeting among the leaders of the group during their summit in Johannesburg. Unfortunately, they couldn’t agree on a standard view.
It’s now anticipated that a statement might be issued on Thursday. Nonetheless, according to a report by Reuters, the delay happened because the Prime Minister of India, Narendra Modi suggested new conditions for admission. A representative from India mentioned ongoing discussions, stating, “Yesterday, India worked towards an agreement on the rules for admission and the candidates. We had a consensus.”
Sources also indicated that Prime Minister Modi’s proposed conditions included potential members not being under international sanctions, which means countries like Iran and Venezuela might be excluded. He also suggested a minimum per capita GDP requirement. “These are the ideas Prime Minister Modi brought up today,” shared a source on Wednesday. “This has caused a bit of a slowdown.”
Over 20 countries have shown interest in joining BRICS, a group established by Brazil, Russia, India, and China in 2009. Countries like Saudi Arabia, Argentina, Egypt, Ethiopia, Iran, Indonesia, and the United Arab Emirates have expressed their desire to join as well.
For a new country to become part of BRICS, all the current members need to agree. This is because BRICS makes decisions based on consensus. While China and Russia support expansion, others have only recently approved. “We are happy to move forward based on agreement,” mentioned Mr. Modi, expressing his support for enlargement.
