South African President Cyril Ramaphosa has revealed that around 20 countries are hoping to join the BRICS (Brazil, Russia, India, China, South Africa) cooperation mechanism. President Ramaphosa made this announcement ahead of the 15th meeting of BRICS leaders, which will take place at the Sandton Convention Center in Johannesburg, South Africa from August 22 to 24.
According to South African National Television, President Ramaphosa expressed that these countries are keen to become members of the BRICS family and hope that their applications will be accepted during the summit. He also mentioned that discussions regarding the expansion of the BRICS countries will take place, with about 20 countries in line for potential membership.
The BRICS cooperation mechanism, composed of emerging economies, aims to enhance economic cooperation and promote mutual development between its member states. The annual BRICS Summit serves as a platform for leaders from these countries to discuss key issues and promote cooperation in various sectors.
The news of several countries expressing interest in joining BRICS highlights the growing influence and significance of this cooperation mechanism on the global stage. The expansion of the BRICS countries not only allows for further diversification and representation but also opens up new avenues for economic collaboration and partnerships.
As the 15th BRICS Summit approaches, all eyes will be on the discussions and decisions regarding the potential expansion of this influential partnership. President Ramaphosa’s comments indicate that the summit will play a crucial role in shaping the future of BRICS and its role in the global economy.
This article was sourced from the Financial Associated Press and is published by Oriental Fortune. It must be noted that the content is meant for informative purposes and does not constitute investment advice.
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As the BRICS cooperation mechanism continues to evolve and expand, the world will be watching to see how these 20 countries’ aspirations to join the BRICS family unfold during the upcoming summit in Johannesburg.