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Days ahead of formally joining BRICS, Argentine President Javier Milei has sent letters to leaders of member nations informing his withdrawal from the planned entry into the group.
In his letter to the leaders of Brazil, Russia, India, China, and South Africa, Javier Milei said that the decision taken by the previous government has been reversed.
BRIC term was given by economist Jim O’Neill in 2001, then at Goldman Sachs Group Inc. The main purpose behind the term was to throw a spotlight on the strong economic growth rates in Brazil, Russia, India, and China. The term was seen as an optimistic scenario for investors. The BRIC club held its first leaders’ summit in 2009. Later, South Africa joined the grouping a year later, adding another continent and the letter “S”.
The bloc announced its expansion in August this year. BRICS, generally seen as a counter to the Western-led global order, declared to add six new members.
The announcement of the addition of six nations including Argentina, Ethiopia, Iran, Saudi Arabia, Egypt, and the United Arab Emirates was set to take effect from January 1, 2024. However, Argentina pulled off its name after Milei took over as the president.
The letter signed by Milei read Argentina’s membership was “not considered appropriate at this time,” according to media reports.
In his letters, he said his foreign policy “differs in many aspects from that of the previous government. In this sense, some decisions made by the previous administration will be reviewed.”
Milei took office in December after the traditional political parties in Argentina faced a crushing defeat. During his election campaign, Milei had vowed not to join BRICS. He also showed his support for America and Israel.
Earlier, Milei had said that its geopolitical interests match with that of America and Israel and Argentina is not going to join hands with communists like China and Russia.
“Our geopolitical alignment is with the United States and Israel. We are not going to ally with communists,” said Milei during his election campaign. However, after taking office, Milei’s stance on China and Brazil has weakened as he has taken a more conciliatory tone.
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Published: 29 Dec 2023, 10:52 PM IST
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