Major emerging market nations are preparing to invite Saudi Arabia to join BRICS, Bloomberg News reported on Thursday, citing people familiar with the talks. The leaders from Brazil, Russia, India, China and South Africa have agreed to expand their group, which would be the first expansion since 2010, the report said.
BRICS faces last-minute negotiations at a leader’s summit, potentially affecting its expansion plans and the aim to enhance the influence of the “Global South" on the global stage, news agency Reuters reported.
The proposed expansion of BRICS, currently comprising Brazil, Russia, India, China, and South Africa, aims to allow interested nations to join and establish a counterbalance to Western dominance. Disagreements among the leaders over the extent and pace of expansion have been a central topic at the Johannesburg summit, the report said.
South Africa’s foreign minister, Naledi Pandor, announced that BRICS leaders have reached a consensus on expansion mechanisms. However, a country official with direct knowledge of the talks revealed to Reuters that a finalised admission framework has not been signed yet.
China and Russia advocate for BRICS expansion to challenge Western supremacy. Meanwhile, Brazil and India have been strengthening ties with Western powers. Despite aspirations to unite and amplify the voices of developing economies, the diverse economic scales and foreign policy objectives of BRICS countries have posed challenges to consensus-based decision-making.
More than 40 nations have expressed interest in joining BRICS, and 22 have formally applied. The potential candidates include a range of countries from Iran to Argentina, all aiming to reshape the global order.
India has maintained that it is very much open to the expansion of the grouping. On Wednesday, Prime Minister Narendra Modi extended support to the idea of the bloc’s expansion during his speech at the plenary.