With the upcoming summit expected to involve discussions over the growth of the alliance, there may be some continued conversations. Specifically, South Africa has signaled that BRICS expansion may not happen in August. As the matter may require continued deliberation.
South African President Cyril Ramaphosa gave a speech at the BRICS political dialogue gala on Tuesday. There, he state that the expectation for BRICS expansion should not be slated for the August summit. Conversely, a host of countries have all sought entry into the bloc, led by nations like Saudi Arabia, Egypt, and the United Arab Emirates.
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South Africa Says BRICS Expansion May Not Occur at August Summit
One of the stories of the year has been the growth and development of the BRICS economic bloc. The collective of Brazil, Russia, India, China, and South Africa has embraced de-dollarization and granted a much louder voice to the global south. Moreover, they have continually embraced the potential growth of the alliance.
Yet, one of its member states may have assured that the idea of growth is something that could take some time. Indeed, South Africa has signaled that expansion of the bloc may not happen at the upcoming August summit. Specifically, because of how important the development is for the alliance.
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President Cyril Ramaphosa assured that BRICS expansion requires, “closer scrutiny and understanding,” from the bloc. “Therefore, the show [of] interest [in] BRICS should also take full account of the initiatives that are already in place. Indeed, we should avoid unnecessary duplication and make sure we derive efficiencies wherever we find ourselves,” he added.
The idea of a BRICS expansion effort has long been discussed by the collective. Moreover, they have undeniably been hard at work on the necessary expansionary guidelines to facilitate that growth. However, it is also understandable for the bloc to carefully approach the concept. Although expansion will be beneficial, it will also come with immense challenges that the bloc must be ready to confront.