Minister Naledi Pandor said that Russia, who takes over as chair of the bloc this year from South Africa, has received written interest from 34 countries who want to join. Saudi Arabia, Iran, Egypt, Ethiopia and the United Arab Emirates are now full members, she said.

Also read: BRICS Summit 2023 highlights: India, a fastest-growing economy, will be growth engine of world, says PM Modi

“Argentina has written to indicate that they will not act on this successful application by the previous administration to become full members of BRICS and we accept their decision,” Pandor told a press briefing in the capital, Pretoria, on Wednesday.

Also read: BRICS Summit 2023 Highlights: BRICS invites Saudi Arabia, 5 other nation to join bloc, PM Modi congratulates new members

Leaders from Brazil, Russia, India, China and South Africa agreed to enlarge their BRICS group from Jan. 1 at a summit held in Johannesburg in August.

Also read: BRICS 2024: Russia’s chairmanship begins, Vladimir Putin shares motto, key focus and priorities | 5 points

BRICS foreign ministers are developing a so-called BRICS partner country model to accommodate 17 nations who were not accepted as full members, Pandor said.

Also read: We face hard options on the BRICS architecture

The bloc is also devising a framework to allow members to use their local currencies for inter-BRICS trade. The minister said that the bloc found the current, predominantly dollar-based international payment system to be “unfair and costly.”

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This story has been published from a wire agency feed without modifications to the text. Only the headline has been changed.

Published: 01 Feb 2024, 09:03 AM IST