Advantages and Disadvantages
In a significant move that marks a shift in global economic and geopolitical dynamics, the BRICS (Brazil, Russia, India, China, and South Africa) has expanded its membership at the 2025 summit held in Rio de Janeiro, Brazil. The club, which was initially formed in 2009, has welcomed five new full members and ten partner countries, collectively known as BRICS+.
Indonesia officially became a full member at the summit, joining the original five members. The new full members also include Egypt, Ethiopia, Iran, and the United Arab Emirates. The expansion of the BRICS membership now stands at ten countries.
In addition to the new full members, ten partner countries have been invited to participate in the Rio summit. These include Vietnam, Belarus, Bolivia, Cuba, Kazakhstan, Malaysia, Nigeria, Thailand, Uganda, and Uzbekistan. This brings the total number of countries associated with BRICS to 20.
This expansion increases BRICS+ representation to about 56% of the world population and 44% of global GDP, measured by purchasing power parity, underscoring the growing influence of this Global South coalition.
The BRICS have an expanding agenda, as shown by the comprehensive final declaration of the summit. The club's commitment to strengthening the United Nations and warning against armament, confrontation, and the dissolution of the international order stands in clear contradiction to Russia's military actions in Ukraine. However, the BRICS remain primarily a non-binding platform.
Despite several cooperation projects, the BRICS' joint demand for a solution to conflicts through dialogue and diplomacy is a piece of diplomacy from the group. The door remains ajar for a number of other interested states present at the summit.
One of the most significant developments at the summit is the BRICS' plan to exchange data via their own cables, away from the Five Eyes intelligence alliance. This data exchange plan is of real strategic significance.
The BRICS have a development bank and a New Development Bank (NDB) that was established in 2014. The bank aims to mobilise resources for infrastructure and sustainable development projects in BRICS and other emerging economies and developing countries.
The condemnation of the attack on Iran, Israeli occupation, and war crimes against Palestinians is a common denominator among BRICS. Brazil and its president, Lula, feel emboldened in their role as the voice of the Global South.
The recent expansion of BRICS underscores its ambitions to reshape global economic and geopolitical dynamics by including a broader group of emerging economies. The Rio summit marked a significant milestone in this journey.
- The addition of Indonesia, Egypt, Ethiopia, Iran, and the United Arab Emirates expands the BRICS membership to ten countries, marking a shift in global business and finance dynamics.
- The BRICS+ now represents about 56% of the world population and 44% of global GDP, signifying the growing influence of this coalition in politics, policy-and-legislation, and general-news arenas.
- The BRICS' commitment to diplomacy and dialogue, as shown by their joint demand for resolution of conflicts, underscores their ambitions in shaping global affairs, particularly in areas of war-and-conflicts and foreign policy.
