• Thursday, June 13, 2024
businessday logo


BRICS extends invitations to Saudi Arabia, Iran, 4 others

BRICS 1 (1)

Saudi Arabia, a prominent global oil exporter, has received an invitation to join the BRICS economic group as a full member.

According to CNN, South African President Cyril Ramaphosa disclosed this development on Thursday, extending invitations to other nations, including Iran, the UAE, Argentina, Egypt, and Ethiopia.

“We have decided to invite the Argentine Republic, the Arab Republic of Egypt, the Federal Democratic Republic of Ethiopia, the Islamic Republic of Iran, the Kingdom of Saudi Arabia and the United Arab Emirates to become full members of BRICS,” Ramaphosa announced Thursday.

Read also: BRICS nations to account for 32.1% of global GDP in 2023 — Report

“The membership will take effect from the first of January 2024,” he said.