BRICS expanded: Argentina, Egypt, Iran, UAE, Saudi Arabia become full members

Johannesburg [South Africa], August 24 : BRICS group of nations on Thursday decided to include six new members- Argentina, Ethiopia, Egypt, Iran, Saudi Arabia and the UAE.
The new membership will be effective from January 1, 2024.
Leaders from Brazil, Russia, India, China and South Africa (BRICS) supported the expansion of the grouping, the first such expansion since 2010 when South Africa was inducted into the group.
South Africa's President Cyril Ramaphosa said that Argentina, Egypt, Ethiopia, Iran, Saudi Arabia and UAE have been invited to join the BRICS as part of the first phase of expansion.
With this expansion, six of the world's nine largest oil producers are now part of BRICS.
Ramaphosa made the announcement while issuing the Johannesburg Declaration of 15th BRICS Summit. 
Prime Minister Narendra Modi said that "India has always supported the expansion of BRICS and has always believed that adding new members will strengthen BRICS as an organisation.
President Ramaphosa, as chair of the Summit and of BRICS made the announcement in his opening statement and thereafter the President invited his counterparts and colleagues from the BRICS member states to also present their statements.
"This summit reaffirmed the importance of BRICS, people-to-people exchanges & enhancing friendship & cooperation...We adopted the Johannesburg two declarations which reflect key BRICS messages on matters of global economic, financial and political importance. It demonstrates the shared values & common interests that underlie our mutually beneficial cooperation as the five BRICS countries..." Ramaphosa sadi.