Iran applies for membership of BRICS, Argentina also keen

Less than seven days after the last BRICS Summit held under Chinese presidency, Iran has applied to join the grouping in what could be the first expansion of the group since South Africa was included.

A series of consultations have been held regarding Tehran joining the group, claimed Iran. The spokesperson for the Iranian foreign ministry said on Monday that while the BRICS is not a treaty or an international agreement, it has been based on a very creative mechanism with broad aspects.

The spokesperson said that BRICS member countries represent 30% of the world's GDP and 40% of the global population. In this sense, he added, Iran's entry would bring additional value to the bloc.

Iran provides India connectivity with Russia, Eurasia and Afghanistan and New Delhi has suggested allowing Iranian, along with Venezuelan oil into the global market. Iranian FM recently visited India to push connectivity and economic links including optimum use of Chabahar Port and INSTC.

There are reports that Argentina is also keen to join the group. On Sunday PM Narendra Modi met the Argentine President in Germany as part of India's efforts to expand ties with Latin America. This was the first bilateral meeting between the two leaders.