BRICS expansion hailed as 'historic'

Xi says adding six more members will mark new starting point for group's cooperation

President Xi Jinping hailed on Thursday the "historic" expansion of BRICS, the group of leading emerging economies, to include six new members, saying that the move marks a new starting point for BRICS cooperation and will provide fresh momentum for the mechanism.

Argentina, Egypt, Ethiopia, Iran, Saudi Arabia and the United Arab Emirates were invited to become new BRICS members. The decision was announced at a special news conference during the 15th BRICS Summit in Johannesburg, South Africa. The membership will take effect on Jan 1.

Speaking at the news conference, Xi said the expansion of the grouping — whose current members are Brazil, Russia, India, China and South Africa — speaks volumes for BRICS' resolve to bolster solidarity and cooperation with other developing nations.

"It meets the expectations of the international community and serves the common interests of emerging markets and developing nations," he said.

The expansion marks a new starting point for BRICS cooperation, Xi said, adding that it will inject new vitality into the mechanism of BRICS cooperation and further strengthen the forces of global peace and development.

"I believe that as long as we work together, there is great potential for BRICS cooperation, and the future of BRICS countries is promising. Let's make joint efforts to write a new chapter of unity, cooperation and development among emerging market countries and developing nations."

Last year, BRICS started the expansion process during China's chairmanship of the group, and China has since been working with other BRICS members to advance the expansion process, a spokesperson for China's Foreign Ministry said on Thursday.

Many emerging markets and developing countries have shown keen interest in joining BRICS, "and more than 20 countries submitted their applications, which speaks volumes about the appeal of BRICS and the enthusiasm and aspiration of emerging markets and developing countries for cooperation", the spokesperson said.

The five member countries have reached agreement on the guiding principles, standards, criteria and procedures for the BRICS expansion process, South African President Cyril Ramaphosa said at the news conference.