Significant development: Sources on expansion of BRICS

BRICS

Johannesburg (South Africa): India has taken the lead in forging consensus to select new members for the BRICS and there was significant development in the proposed expansion of the five-nation grouping, official sources said Wednesday.

The issue of the expansion of the grouping was discussed at length at the BRICS (Brazil-Russia-India-China-South Africa) Leaders’ Retreat in Johannesburg Tuesday evening, a day before its annual summit.

The retreat was attended by Prime Minister Narendra Modi and other leaders of the BRICS nations except Russian President Vladimir Putin.

Putin has already decided not to travel to Johannesburg for the summit and Russian Foreign Minister Sergey Lavrov is attending the annual congregation.

The sources said significant development has taken place on BRICS expansion during the leaders’ retreat, adding India took the lead in forging consensus on membership criteria and selection of new members.

“Our efforts were guided by our objective to incorporate our strategic partners as new members,” said a source.

The expansion of BRICS is a major focus area of the annual summit of the grouping.

Foreign Secretary Vinay Kwatra Monday said there is considerable interest in joining the grouping by various countries.

Twenty-three countries have submitted their applications to join the BRICS. Iran, Saudi Arabia, the United Arab Emirates (UAE) and Argentina have emerged as strong contenders for the grouping’s membership.

“We have a positive intent and an open mind when it comes to BRICS expansion,” Kwatra said at a media briefing on Monday in Delhi.

The BRICS brings together five of the largest developing countries of the world, representing 41 per cent of the global population, 24 per cent of the global GDP and 16 per cent of the global trade.

PTI

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