Chinese president Xi Jinping, president Cyril Ramaphosa and the prime minister of India, Narendra Modi, at the BRICS summit in Sandton. Picture: Itumeleng English/African News Agency (ANA)
Speaker Nosiviwe Mapisa-Nqakula and National Council of Provinces chairperson Amos Masondo say the expansion of BRICS was a strategic step and this would bolster trade and investment in emerging economies.
They also said BRICS was going to benefit countries in the Global South and increase more partnerships and opportunities.
President Cyril Ramaphosa announced that Saudi Arabia, Iran, Argentina, Egypt, Ethiopia and the United Arab Emirates were the new members of the BRICS bloc and they will assume full membership in January next year.
Observers have also welcomed the expansion of BRICS, saying it would increase its leverage in global trade.
BRICS leaders have denied that the bloc would be a direct competition to the G7 or the West.
More than 23 countries had applied to join BRICS, but at the summit in Sandton, the organisation agreed to the first phase of expansion by taking in only six countries.
Mapisa-Nqakula and Masondo said on Saturday said BRICS would strengthen trade in the emerging economies.
“We commend the collective decision to expand the BRICS family by welcoming new member states, including Saudi Arabia, Iran, Ethiopia, Egypt, Argentina, and the United Arab Emirates.This expansion signifies BRICS' dedication to inclusivity, diverse perspectives, and shared development. The benefits of this expansion ripple not only across Africa but resonate globally, particularly for developing nations, emerging markets, and the advancement of multipolarism.
“The expansion of BRICS represents a strategic step towards promoting cooperative development, innovation, and the enhancement of economic ties. The inclusion of new member states brings fresh opportunities for harnessing collective strengths to tackle economic disparities, foster sustainable growth, and amplify the voices of developing countries on the global stage,” said Mapisa-Nqakula and Masondo.
They said now that the summit was over, they were looking forward to the BRICS Parliamentary Forum Assembly in Johannesburg.
The forum will take place in September. They have also invited parliaments from the six new members of the organisation.
siyabonga.mkhwanazi@inl.co.za
IOL