The Brics, who have been meeting for two days for a summit in Johannesburg, have decided to welcome six new countries to their bloc from January 1, 2024. It was the South African President, Cyril Ramaphosa, who announced it. in a press conference. His Chinese counterpart, Xi Jinping, hailed ” a historic enlargement “. He predicts ” a bright future for the Brics “. The main reactions, with our correspondents in the regions of the world concerned.
We do not yet know how we will pronounce the new acronym of the emerging group on the radio, jokes our correspondent in Beijing, Stephane Lagarde. But until then, it is by their names that the Chinese president has listed the six new entrants, whose membership will take effect from January 1, 2024: “ Argentina, Egypt, Ethiopia, Saudi Arabia, United Arab Emirates and Iran “. An expansion on which the “club of five”, which weighs a quarter of the wealth and 42% of the world’s population, had to agree.
China, which represents 70% of the group’s GDP, tipped the scales in favor of accelerating a process on which India had requested a prior “consensus”, and to which Brazil had been rather reluctant . ” This historic expansion meets the expectations of the international community. It marks a new starting point for the cooperation of the Brics », asserted Xi Jinping at a press conference. ” This will inject new vitality into the mechanism of cooperation and strengthen the forces of peace and development in the world. “, he added.
This enlargement, the Chinese state press talks about it as much as if it were a question of the departure of a space mission in the country, because it reflects the weight of Chinese diplomacy within the group. The six new members of the BRICS are indeed relatives of Beijing, who are part of the friendship group of the global development initiative and its main component, the Global South (Global South), launched by Xi Jinping at the UN in 2021. China intends to make these “Brics+” a competitor of the G7, which is still far from being the case. In Pretoria, the countries of the group reiterated their “non-aligned” position.
🧐 It is interesting to note that the 6 new members of the #BRICS are also all members of the Group of Friends of the Global Development Initiative, initiated by China in January 2022.
The “Global South” is at the heart of efforts 🇨🇳 to restructure global governance. https://t.co/cEFIJGczp5
— Quentin Couvreur 坤廷 (@quent1_couvreur) August 24, 2023
Seen from Egypt: an alternative to IMF loans
Egypt’s membership is all the more appreciated in Cairo, as it comes in the midst of a major economic crisis, explains our correspondent on the spot, Alexandre Buccianti. The Brics Development Bank offers an alternative to loans from the International Monetary Fund, with which the country has difficulties, since it can no longer meet the conditions imposed by the IMF.
The Brics is also an alternative currency to the dollar, which Egypt sorely lacks for its imports. And precisely, joining the club means securing imports of strategic products such as wheat. Cairo must import twelve million tons of wheat next year, mainly from Russia, but also with a new supplier: India.
Finally, the Brics, this represents potential new investments for the Egypt of Abdel Fattah al-Sissi. Between 2021 and 2022, investments by members of this group have increased by 50%. And moreover, trade with the Brics was more than 31 billion dollars in 2022. Trade that should increase significantly.
Argentina: “Being part of the Brics makes us stronger”
In a video message broadcast this Thursday morning, Argentinian President Alberto Fernandez welcomed his country’s entry into the club of emerging powers. To be one of them ” makes us stronger “, he said. At the head of an over-indebted State lacking external financing, Mr. Fernandez underlined that with this membership, his country was part of the creation of a ” new global financial architecture » to finish with « the unsustainability of sovereign debt “.
But now, a few hours later, in front of an audience of heads of large companies, the right-wing opposition candidate for the October presidential election, Patricia Bullrich, criticized this membership, reports our correspondent in Buenos Aires, Theo Conscience. “ The nation’s president has just pledged Argentina to enter the Brics as the invasion of Ukraine continues. We believe in a rules-based international order to preserve peace and respect for international law. Under our government, Argentina will not be in the Brics “, she promised.
As for the anti-system and ultra-liberal presidential candidate Javier Milei, currently at the top of the voting intentions after the primaries, he had already made it known that he too intended to turn his back on Brazil and China to get closer to the United States, in the event of accession to the Casa rosada.
“Ethiopia is ready to cooperate with all”
” This is a great moment for Ethiopia said Ethiopian Prime Minister Abiy Ahmed. His country, he writes on the social network X, is ready to ” cooperate with all for an inclusive and prosperous world order “. Two months ago, Addis Ababa submitted its official candidacy with a view to strengthening its economic position thanks to an international institution that can defend its interests, explains our correspondent. Clothilde Hazard. And it is now done.
It must be said that the country was already favored by China, a major investor in Ethiopia. On Wednesday, August 23, Prime Minister Abiy Ahmed indeed met the Chinese President, the two leaders expressing on this occasion their desire to strengthen their partnership on multilateral platforms.
China has also announced that it is suspending the repayment of the Ethiopian debt it holds over the period 2023-2024, good news for Ethiopia, which must recover from the two years of war in Tigray having widened its debt. and slowed exports and the job market. For the Brics, the country represents an important potential market in terms of investment and trade, thanks to its rapid growth and its very large population, since Ethiopia is the second most populous country in Africa.
The Gulf now well represented at the Brics
The news of his country’s membership was welcomed by the number one of the United Arab Emirates. On social media, Sheikh Mohammed bin Zayed called the Brics a group ” important “, reports the regional correspondent of RFI, Nicolas Keraudren. ” We look forward to a continued commitment to cooperation for the prosperity, dignity and benefit of all nations and peoples of the world. “, he added.
And above all, in addition to the Emirati federation, another economic power of the Gulf, namely Saudi Arabia, has also been invited to join the group. Just like Iran. The inclusion of these three countries within the same economic or political organization was still unthinkable in recent years, but Riyadh and Abu Dhabi have recently normalized their relations with their rival Tehran. The two Gulf monarchies have also made sure to maintain good relations with Russia against the backdrop of the war in Ukraine. Then also strengthened their ties with China.
Iran is turning more and more towards the East
Tehran’s regime has welcomed joining a group that includes its two traditional allies, China and Russia, in the face of political and economic pressure from the United States and Western countries over its nuclear program expanding. ” Permanent BRICS membership is a strategic success for the Islamic Republic’s foreign policy “, said the political adviser to President Raissi in a tweet.
Iranian power is turning more and more towards Eastern countries, reports our correspondent in Tehran, Siavosh Ghazi. After joining the Shanghai Cooperation Organization two months ago, this new alliance is undeniably a new step towards not only Beijing and Moscow, but also towards New Delhi, Brasilia and Pretoria. It also makes it possible to counter the American economic sanctions and to take an important step to “de-dollarize” the national economy. Already, Iran has made deals with China, Russia and India to trade in their own national currencies.
Above all, it will allow the Islamic Republic to increase its oil exports. Iran already exports more than two million barrels of oil to China, a level close to that reached after the 2015 nuclear deal. The country’s oil exports had fallen to 300,000 barrels a day after the US exit United of the nuclear agreement, in 2018.