The Brics is a partnership between South Africa, Brazil, Russia, India and China. Representatives from these countries are in Johannesburg this week for a three-day summit. Expansion of the group of countries is one important agenda. They have agreed on “principles, standards, criteria and procedures for the expansion of the Brics,” said South African President Cyriel Ramaphosa.

The leaders of the Brics countries were pleased with this move. According to Chinese President Xi Jinping, the current members are “all countries with significant influence” and the expansion represents “a new impetus for cooperation”. Luiz Inácio Lula da Silva from Brazil said this cooperation contributed to a new world economic order.

“Permanent attachment to the group of developing countries is a historic event and a strategic success for the foreign policy of the Republic of Iran,” wrote Mohamed Jamshidi, political adviser to the Iranian president, in X.

Expanding Brics allows it to keep up with the G7. It is a collaboration between Canada, Germany, France, Italy, Japan, the United Kingdom and the United States. The European Union is also represented in it. Russia was a member of the group (which became known as the G8) for 20 years starting in 1998, but left after suspension due to the invasion of Crimea in 2014.

More than 40 countries have expressed interest in joining the Brics, and 22 of them have formally applied for membership, according to South African officials.