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The BRICS bloc was formed with leading emerging economies such as India, Russia, and China. Recently they revealed a strategic initiative to augment its global influence. This is in response to the prevailing authority of Western powers in international affairs. With Moscow in charge of the BRICS, President Vladimir Putin stressed the expansion of the group, now embracing ten nations. Egypt, Ethiopia, Iran, Saudi Arabia, and the United Arab Emirates joined as full members.

Additionally, this development occurred following the approval of a proposal, endorsed during the BRICS summit in Johannesburg last August. It sanctioned the inclusion of six nations, including Argentina, into the bloc, effective from January 1. Regrettably, Argentina’s President Javier Milei withdrew his country from BRICS, including Brazil, Russia, India, China, and South Africa.

In a notable address, President Putin accentuated the significance of the new entrants. He emphasized that the inclusion of Egypt, Ethiopia, Iran, Saudi Arabia, and the United Arab Emirates as full members symbolizes the escalating authority and influence of the association in global affairs. Putin asserted that BRICS continues to attract an expanding array of supporters. It shares sovereign equality, openness, consensus, a commitment to a multipolar international order, and a global financial and trading system.

Moreover, the bloc originated in September 2006 with Brazil, Russia, India, and China (BRIC). It then transformed into BRICS in September 2010 with the admission of South Africa as a full member. Currently representing a quarter of the global economy, BRICS has been a significant driver of worldwide economic growth.

Putin also stated the objectives of the Russian presidency. He focused on positive and constructive cooperation with all concerned nations aiming to strengthen multilateralism for fair global development and security. He pledged dedicated efforts to integrate new participants into all facets of the association’s activities.

Highlighting the multifaceted agenda, Putin predicted including approximately 30 countries in the BRICS partnership. He emphasized the initiation of work on formulating a new category of BRICS partner countries. Besides, the presidency’s priorities include politics and security, economy and finance, and cultural and humanitarian contacts. It means to improve foreign policy coordination among member countries.

What’s more, under the Russian presidency, Putin outlined a strategic focus on science, high technology, healthcare, environmental protection, culture, and sports. He revealed plans for over 200 events across various Russian cities during the chairmanship, culminating in the BRICS Summit in Kazan in October as its pinnacle. In conclusion, President Putin encouraged representatives from all interested countries to participate in these events, encouraging collaborative engagement and reinforcing the BRICS partnership.

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