Xiluva has welcomed the expansion of the BRICS bloc, the party said in a statement on Thursday.
This follows the announcement by Cyril Ramaphosa that Argentina, Egypt, Ethiopia, Iran, Saudi Arabia, and the United Arab Emirates will join BRICS as of the start of 2024.
Over 20 countries formally applied to join BRICS and several others have expressed an interest in becoming part of the bloc for emerging economies.
“This is a positive development for economic growth globally. These emerging economies have been growing at a faster pace than many developed countries, fueling global trade and presenting new investment opportunities.
“The BRICS countries with their large populations and abundant natural resources, provide critical resources for industrialized nations to maintain economic growth and at the same time help underdeveloped countries,” Xiluva stated.
The party believes that the BRICS member countries can work together to promote a more equitable and prosperous world for all.
Outcomes of the XV BRICS summit
The BRICS leaders on Thursday took to the podium to talk about the outcomes of the 15th BRICS Summit held in Sandton, Johannesburg, this week and welcomed the new members.
Indian Prime Minister Narendra Modi said he was pleased that the summit had many positive outcomes.
BRICS countries together with friendly states can help strengthen the multipolar world, Prime Minister Modi underscored.
“I believe that BRICS and all friendly countries present here can work together to strengthen the multipolar world to make global institutions representative and in line with the spirit of the times,” Modi said, addressing a meeting in the BRICS Plus/Outreach format.
Chinese President Xi Jinping further maintained that the BRICS alliance is an important force in shaping the international landscape.
“BRICS countries choose their development paths independently, jointly defend their right to development, and march in tandem toward modernization, which represents the direction of the advancement of human society, and will profoundly impact the development process of the world,” Xi said.
All BRICS countries, he added, should help reform global governance to make it more just and equitable, and bring to the world more certainty, stability and positive energy.
The Chinese leader called for efforts to deepen business and financial cooperation among BRICS countries to boost economic growth.
He pointed out that the world economic recovery remains shaky, and challenges for developing countries are even more formidable, hampering their efforts to realize the Sustainable Development Goals.
“Development is an inalienable right of all countries, not a privilege reserved for a few,” Xi stressed.