BRICS leaders have agreed on expansion plan and guidelines to allow more countries to join bloc, says Naledi Pandor

The leaders from the BRICS nations have adopted a document that sets out guidelines, principles and processes to consider for countries who want to join the stable.

The leaders of Brazil, Russia, India, China and South Africa have been locked in closed plenary sessions at the 15th BRICS Summit in Sandton, Johannesburg on Wednesday after delivering their welcome remarks.

According to South African Minister of International Relations and Cooperation, Dr Naledi Pandor, who spoke on the sidelines of the Summit, the leaders agreed on the matter of expansion.

She said a more detailed announcement would be made by the BRICS leaders before the conclusion of the Summit on Thursday.

"The sessions have so far gone very well, including the briefings to the Heads of State and the innovative thinking of the new president of the New Development Bank (NDB)," Pandor said.

Going into the summit, it was believed India was against expansion, while China and South Africa were open to expansion, while Brazil called for strict guidelines on expansion. Consensus is required from all member states.

At least 40 countries have expressed interest in joining including Iran, Saudi Arabia, Bangladesh and Argentina.

The former president of Brazil, Dilma Rousseff is the new President of the NDB.

Pandor said Rousseff had indicated some really exciting thinking about the future and the whole discourse around the use of local currencies.

"So this is a matter that is clearly on the agenda of the board of governors on the NDB, and we look forward to hearing more about that at the next summit in Russia," she said.

Pandor expressed her positivity around discussions, saying that the establishment of the BRICS Women’s Alliance and the BRICS Youth Forum was extremely important.

For the first time, young leaders addressed the BRICS heads and set out the aspirations of young people in the BRICS countries and the role that BRICS would play in their development.

"What is interesting for me this year with BRICS is that everybody wants to be in. It looks like BRICS has become a concept that has taken root in popular discourse, and you are seeing growth in interested sectors. And all the governments are keen on ensuring that we see this greater collaboration.

"What is absolutely great is the momentum coming from stakeholders: civil society, business, women, youth, academics, and think tanks.

"So BRICS is becoming a sect of multi-faceted interactions between a whole range of institutions and stakeholders in the BRICS countries, and given their size, we are talking of thousands coming together, and I think this is absolutely incredible," Pandor said.

[email protected]

IOL