BRICS is a group of countries that work together in the areas of business and politics. Originally, there were five members: Brazil, Russia, India, China, and South Africa. But at a big meeting in Johannesburg, South Africa, they said six more countries will join them.
Who are the New Members?
From 2024, these countries will be a part of BRICS:
- Argentina
- Egypt
- Ethiopia
- Iran
- Saudi Arabia
- UAE (United Arab Emirates)
How Did This Happen?
Many countries wanted to join BRICS. South Africa’s Foreign Minister, Naledi Pandor, said that 12 countries showed interest. This list had names like Nigeria, Saudi Arabia, Algeria, and Mexico. But out of all, six got selected.
Were There Any Problems?
Yes, there were a few issues. A news source called Reuters said that there might be problems in adding new countries. But, in the end, they worked it out, and six countries were added.
Why is This a Big Deal?
One of the new countries is Saudi Arabia. It has a close relationship with the United States. Now that it’s joining BRICS, it might change how money is used in global business. Some experts think BRICS countries might stop using the US dollar and start using their own money. This would be a big change!
“Countries might start using their own money instead of the US dollar. This could lead to a new BRICS currency. It’s a big change in the world of money.” – MandyNews Expert.
Questions People Ask
1. What’s BRICS? BRICS is a group of countries that come together to talk about business and politics.
2. How many countries will be in BRICS by 2024? There will be 11 countries in BRICS by 2024.
3. Which countries are joining BRICS? Argentina, Egypt, Ethiopia, Iran, Saudi Arabia, and UAE.
4. When will these new countries officially join? They will join on January 1, 2024.
5. Why is it important that Saudi Arabia is joining? Saudi Arabia is a big partner of the US. Its joining might change how business is done globally.
6. Will BRICS have its own money? It’s possible. With new countries joining, they might create a new currency.
7. Were there any issues in adding new countries? Yes, there were some challenges, but they were solved.
8. Where did this big BRICS meeting happen? It was in Johannesburg, South Africa.
9. Who announced the new countries joining? The news came out at a press event during the BRICS meeting in Johannesburg.
10. Will this change how the world does business? Yes, with more countries and possible new money, global business might change a lot.
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