BRICS1 on Day 3: New Members, Johannesburg II Declaration of the XV BRICS Summit
BRICS Leaders have reached consensus on the expansion guidelines of admission to BRICS. The following countries will be full members of BRICS with effect from 1 January 2024:
Argentina, Egypt, Ethiopia, Iran, Saudi Arabia and the UAE.
Congratulations!
With its expansion, the GDP of BRICS is now 36% of global GDP and 47% of the world’s population.
BRICS Leaders have adopted the Johannesburg II Declaration of the XV BRICS Summit. https://www.gov.za/sites/default/files/speech_docs/Jhb%20II%20Declaration%2024%20August%202023.pdf
Adaptation of the final BRICS declaration was not easy, including on the issue of enlargement, Putin said. (And this uneasiness is what we all sensed!)
LIVE | #BRICS Chairperson, H.E Mr Cyril Ramaphosa announces outcomes of the XV BRICS Summit. #BRICSza #BRICSSummit2023 https://t.co/qnTysXgbJq
— BRICSza (@BRICSza) August 24, 2023
BRICS Central Banks have been instructed to consider and investigate trade in local currencies.
“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.
President Lula da Silva in his remarks says that BRICS has started a working group to study a reference currency for BRICS.
H.E. President Vladimir Putin: “The adoption of the guiding principles in the expansion of BRICS will ensure that the role and importance of BRICS in the world will continue to grow.”
Xi Jinping: “The expansion is also a new starting point for BRICS cooperation and will bring new vigor to the BRICS cooperation mechanism and strengthen efforts for world peace and development”
The BRICS-Africa Outreach and BRICS Plus Dialogue is currently taking place. It serves as a platform for BRICS Leaders to engage Heads of State and Government from the African continent and elsewhere. (This is what previously was called Friends of the BRICS).
PM Modi at BRICS Outreach: When we use the term Global South, it’s not just a new diplomatic term. In the past, we have always opposed colonialism and apartheid. Based on this strong history, we have given new shape to our modern relations.
A point that must be noted and emphasized, is the three new members of the NDB, namely Bangladesh, Egypt and United Arab Emirates.
To conclude, a lovely summary (about 7 minutes only) by Nuri Vittachi:
Inclusivity and striving for peace and payments in local currency were major themes of this successful Summit. Note 4 of 6 admitted are Muslim, and a fifth (Ethiopia) has almost 50% Islamic population. A clear effort to: to have regional powers from each region on earth to draw in 25%… Read more »
Remember Putin a few years ago: The dogs bark but the caravan moves on! Its moving now forsure and glad to say we can now see the fire that has been lit. Maria Zakharova this morning: The results of the BRICS summit are brilliant. “Isolation” is lying in a ditch… Read more »
Thanks for the comments. When reading AHH’s comment, the same saying came to my mind: “the dogs bark, but the caravan goes on” Perhaps, Hungary can also become a member of BRICS in the future. a kutya ugat, a karaván halad (Hungarian) literally: “the dog barks, the caravan proceeds” A… Read more »
Whoop, Whoop, Amarynth – I can hardly contain my excitement – and not the least because Argentina just kicked sand in Uncle $laughter’s face just to add even more to this fascinating mix. I wonder if those most recent IMF and U$ loans were properly signed off – it would… Read more »