Eleventh-hour negotiations have slowed down a deal aimed at expanding the BRICS group, as per the reports on Wednesday, August 23, Reuters reports.
South Africa initially announced that the consortium of developing nations had reached an agreement on a mechanism for admitting new members, potentially opening the door for numerous countries to join. However, an official from one of the BRICS member countries informed Reuters that the leaders had not yet finalized and signed the admission framework.
If consensus is achieved, this development could enhance the influence of the BRICS group, consisting of Brazil, Russia, India, China, and South Africa, as it strives to establish itself as a viable counterbalance to Western influence. Over 40 countries have expressed their interest in joining the BRICS alliance, as per South African officials, and 22 of them have formally applied for admission.
This collection of potential candidates spans a diverse range of nations from Iran to Argentina. The expansion of the BRICS group was a central topic of discussion during a summit of its leaders in South Africa.
Earlier in the day, Chinese President Xi Jinping advocated for a swift process, saying, "We need to use the BRICS plus cooperation well and accelerate the expansion process. Let more countries join the BRICS family, pool wisdom and gather strength to make global governance more fair and reasonable."
While all BRICS members have publicly endorsed the idea of enlarging the bloc, there were differences among the leaders regarding the extent and speed of expansion. The BRICS members have varying economic scales and disparate foreign policy objectives, creating challenges in reaching a unanimous decision.
Further details about the admission framework are expected to be disclosed before the conclusion of the summit on Thursday, according to South Africa's statement.
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