On Thursday, BRICS leaders decided to admit Argentina, Egypt, Iran, Ethiopia, the UAE and Saudi Arabia into the club, South African President Cyril Ramaphosa announced, adding that the entry of the new members to the bloc is the first phase of the group's expansion process.
The leaders of BRICS also reached an agreement on the guiding principles, standards, criteria and procedures for the club's expansion process.
BRICS Countries Weigh in on Russia's Presidency in 2024
BRICS countries fully support Russia's presidency of the group in 2024 and holding the next summit in Kazan in October, BRICS said in a declaration following the Johannesburg summit on Thursday.
"Brazil, India, China and South Africa extend their full support to Russia for its BRICS Chairship in 2024 and the holding of the XVI BRICS Summit in the city of Kazan, Russia," the document said.
The group's leaders have also instructed their foreign ministers to prepare a list of potential partner countries by the next summit.
"We have also tasked our Foreign Ministers to further develop the BRICS partner country model and a list of prospective partner countries and report by the next Summit," the declaration read.
Among other issues, BRICS encourages greater participation of developing countries in the work of international organizations.
"We call for greater representation of emerging markets and developing countries, in international organizations and multilateral fora in which they play an important role," the document said.
BRICS Leaders on Reforming the UN
The BRICS leaders support the reform of the UN, including that of the UN Security Council, in order to make the organization more democratic and efficient, according to the declaration.
"We support a comprehensive reform of the UN, including its Security Council, with a view to making it more democratic, representative, effective and efficient, and to increase the representation of developing countries in the Council’s memberships so that it can adequately respond to prevailing global challenges," the declaration said.
The leaders also agreed to "strengthen cooperation on issues of common interests both within BRICS and in multilateral fora including the United Nations General Assembly and Human Rights Council, taking into account the necessity to promote, protect and fulfil human rights in a non-selective, non-politicised and constructive manner and without double standards," the document read.
BRICS Supports Using National Currencies in International, Bilateral Trade
BRICS members stand for the use of national currencies in international trade, as well as financial settlements within the association, the declaration said.
"We stress the importance of encouraging the use of local currencies in international trade and financial transactions between BRICS as well as their trading partners. We also encourage strengthening of correspondent banking networks between the BRICS countries and enabling settlements in the local currencies," the declaration read.
The association also advocates further cooperation with a view to strengthening supply chains and payment systems between its members.
"We encourage further cooperation among BRICS countries to enhance the interconnectivity of supply chains and payment systems to promote trade and investment flows. We agree to strengthen exchanges and cooperation in trade in services as established in the BRICS Framework for Cooperation on Trade in Services, with the BRICS Business Council and BRICS Women’s Business Alliance (WBA) with the aim to promote implementation of BRICS Trade in Services Cooperation Roadmap and relevant documents including the BRICS Framework for cooperation in Trade in Professional Services," the declaration states.
BRICS on the Ukrainian Conflict
BRICS members favor a peaceful resolution of the conflict in Ukraine through dialogue and diplomacy, including the African states’ peace initiative, the declaration said.
"We recall our national positions concerning the conflict in and around Ukraine as expressed at the appropriate fora, including the UNSC [United Nations Security Council] and UNGA [United Nations General Assembly]. We note with appreciation relevant proposals of mediation and good offices aimed at peaceful resolution of the conflict through dialogue and diplomacy, including the African Leaders Peace Mission and the proposed path for peace," the declaration said.
BRICS Members Committed to Deepening Economic Cooperation
The BRICS member states are committed to deepening economic cooperation and coordination of macroeconomic policy, according to the final declaration.
"We recognize the important role of BRICS countries working together to deal with risks and challenges to the world economy in achieving global recovery and sustainable development. We reaffirm our commitment to enhance macro-economic policy coordination, deepen economic cooperation, and work to realize strong, sustainable, balanced and inclusive economic recovery," the declaration read.
BRICS countries also focus on strengthening agricultural cooperation globally and within the group to ensure food security, BRICS said.
"Recognizing that BRICS countries produce one third of the world's food, we reaffirm our commitment to strengthen agricultural cooperation and promote sustainable agriculture and rural development of BRICS countries for enhancing food security both within BRICS and worldwide," the document stated.
BRICS on Iranian Nuclear Issue
The BRICS countries reaffirm the need to resolve the Iranian nuclear issue by peaceful and diplomatic means, the organization said.
"We reiterate the need to resolve the Iranian nuclear issue through peaceful and diplomatic means in accordance with the international law," the document read.
BRICS also advocates for the full restoration and effective implementation of the Joint Comprehensive Plan of Action (JCPOA).
"Stress the importance of preserving the JCPOA and the UNSCR 2231 to international non-proliferation as well as wider peace and stability and hope for relevant parties to restore the full and effective implementation of the JCPOA at an early date," the document said.
BRICS Call for Strengthening Disarmament, Non-Proliferation
BRICS countries favor bolstering disarmament and non-proliferation, including in the field of biological and chemical weapons, according to the declaration.
"We call for the strengthening of disarmament and non-proliferation, including the Convention on the Prohibition of the Development, Production and Stockpiling of Bacteriological (Biological) and Toxin Weapons and on their Destruction (BTWC) and the Convention on the Prohibition of the Development, Production, Stockpiling and Use of Chemical Weapons and on Their Destruction (CWC), recognizing its role in safeguarding and for preserving their integrity and effectiveness to maintain global stability and international peace and security," the document stated.
BRICS leaders appreciate the interest shown by the Global South in seeking membership with the group, the final declaration noted.