News: August 23, 2023. BRICS Meeting has Started. Membership May Expand

BRICS member countries Brazil, Russia, India, China and South Africa have started their meeting. In the meeting, rules for the inclusion of new members will be discussed and approved. Many members have formally requested entry into the group, however, 5 members are being considered. These countries are Saudi Arabia, Argentina, UAE, Egypt and Iran.

The importance of BRICS as a group has been increasing as their relative GDP weight becomes more significant in relation to the rest of the world. in this meeting, other significant items may be discussed, such as the creation of alternative means of international financial interaction (alternatives to the US dollar)

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