BRICS Debates Expansion as Iran, Saudi Arabia Seek Entry
- More than a dozen countries express interest in membership
- BRICS seen as counterweight to Western-dominated institutions
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The BRICS group of nations plans to decide this year whether to admit new members and what criteria they would have to meet, with Iran and Saudi Arabia among those who’ve formally asked to join, according to South Africa’s ambassador to the bloc.
Enlarging the group that includes Brazil, Russia, India, China and South Africa would benefit Beijing, as the world’s second-biggest economy tries to build diplomatic clout to counter the dominance of developed nations in the United Nations, International Monetary Fund, World Bank and other institutions.