The BRICS countries welcomed six new members from three different continents on Thursday, marking a historical milestone that underscored the solidarity of BRICS and developing countries and determination to work together for a better future, officials and experts said. The expansion of the BRICS, as a new starting point for multilateral cooperation, will play a positive role for more equitable and just global governance, experts said.
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Leaders from BRICS nations, representing a quarter of the global economy, met on Wednesday in Johannesburg, South Africa, eying expansion and deepening cooperation. Chinese President Xi Jinping said emerging countries are becoming more and more relevant in the international arena, and this summit will very much contribute to the shaping of a new global economic and political order.
The member states of the BRICS, the emerging market group of Brazil, Russia, India, China and South Africa, are widely anticipated to deepen financial cooperation in an upcoming gathering, in particular in the payment and currency sectors to counterbalance the hegemony of the US dollar, which has left emerging economies and developing countries struggling financially.