Important steps were taken in Johannesburg, the economic capital of South Africa, regarding the future of BRICS. It was reported that BRICS, which consists of Brazil, Russia, India, China, and South Africa, decided to invite new countries to the organization for expansion, Bloomberg reported.
BRICS members stated that preparations were being made to send invitations to many countries, especially Saudi Arabia, to increase the global influence of the organization. In addition to Saudi Arabia, Argentina, the United Arab Emirates, Iran, Egypt, and Ethiopia will also be invited.
The fact that most of the countries to be invited are Middle Eastern countries is seen as part of BRICS' efforts to increase its influence on the global energy market.
In the news in Bloomberg, it was stated that the invitation of Saudi Arabia was in line with Crown Prince Mohammed Bin Salman Al Saud's strategy to diversify the royal economy. It was pointed out that Prince Salman's diversification effort brought his country closer to China and Russia.
More than 20 countries have announced their intention to join BRICS, defined as the Global South.
BRICS members have long been working for a global currency alternative to the US dollar.
Brazilian President Luiz Inacio Lula da Silva, in his speech at the opening of the BRICS summit, gave serious messages about the new currency with the words "The creation of a currency for trade and investment transactions between BRICS members increases our payment options and reduces our vulnerabilities".