The BRICS group has announced the admission of six new countries, in a strategic move to reshape global trade and the economic landscape. From the beginning of next year, Argentina, Saudi Arabia, Egypt, United Arab Emirates (UAE), Ethiopia, and Iran are to join current members – Brazil, Russia, India, China, and South Africa. The expansion was heralded during the 15th BRICS summit held in Johannesburg, South Africa, in August. The decision to widen the bloc was premised on the economic potential of the beckoned countries and their strategic importance in the global economy. In addition, new members were seen as aligned with the group’s core values of economic cooperation and multilaterali
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