Ethiopia to Become Full Member of BRICS From Jan 1

Ethiopia is among six states that will become new full members of the BRICS economic bloc from 1 January 2024.

From more than 40 countries that expressed interest in membership, 22 formally requested to be admitted to the bloc of the BRICS nations, representing a quarter of the global economy.

The 15th BRICS leaders summit discussed the rules for admitting new members and passed a decision on the membership request made to join the group in the first phase of the expansion. 

The chairperson and President of South Africa Cyril Ramaphosa announced the names of the nations during his briefing on the outcomes of the summit.

“BRICS itself is a diverse group of nations,” he said. “It is an equal partnership of countries that have differing views but have a shared vision for a better world.”

“As the five BRICS members, we have reached agreement on the guiding principles, standards, criteria, and procedures of the BRICS expansion process,” President Ramaphosa said.

The leaders summit has also reached a consensus on the first phase of this expansion process.

“We have decided to invite the Argentine, Egypt, Ethiopia, Iran, Saudi Arabia and the United Arab Emirates to become full members,” Ramaphosa said. 

The membership will take full effect from 1 January 2024.

Prime Minister Abiy Ahmed immediately responded to the decisions calling it “a great moment for Ethiopia”.

“Ethiopia stands ready to cooperate with all for an inclusive and prosperous global order,” he said.