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“At the invitation of President of the Republic of South Africa Cyril Ramaphosa, President Xi Jinping will attend the 15th BRICS Summit to be held in Johannesburg, South Africa, and pay a state visit to South Africa from August 21 to 24,” as stated by foreign ministry spokeswoman Hua Chunying.
The term BRIC was coined by an economist at Goldman Sachs, as a word that describes the rise of Brazil, Russia, India, and China. The countries had their joint summit in 2009 in Russia and later South Africa joined, adding the word S to it. By promoting peace, security, development, and cooperation, the BRICS mechanism aims to achieve these goals.
Next week in Johannesburg, these five BRICS countries will meet and look for ways to turn an economic powerhouse into a geopolitical force capable of challenging the developed world.
About 69 nations have been invited to the summit in South Africa, including all African states, and expansion is expected to be high on the agenda. Some countries have expressed interest in formally or informally joining the group, including Algeria, Saudi Arabia, Argentina, and Ethiopia.
The Russian president, who is wanted for war crimes in Ukraine, will participate by video rather than attending in person.
The nation has expressed its openness to welcoming additional like-minded partners into the 'BRICS family' in the near future.
Russia has also voiced its support for the expansion initiative, viewing it as a positive step. However, Brazil has exhibited some reluctance, primarily due to concerns as it can erode the group's existing stature and dynamics.
Also, Read, India Aims to Set Aside $12 Billion to Ease Inflation, sums to lower taxes on fuel sales
