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Home»Economy»Nigeria, 12 Others Join BRICS As Partner Countries
Economy

Nigeria, 12 Others Join BRICS As Partner Countries

VardiafricaBy VardiafricaOctober 24, 2024Updated:October 24, 2024No Comments5 Views
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Nigeria and twelve other countries have joined the BRICS intergovernmental organization as partner nations, not full members

The announcement was made during the ongoing BRICS summit in Kazan, Russia, as the bloc seeks to enhance cooperation with emerging economies worldwide.

The other 12 countries are; Algeria, Belarus, Bolivia, Cuba, Indonesia, Kazakhstan, Malaysia, Thailand, Turkey, Uganda, Uzbekistan and Vietnam

In January 2024, four countries namely, Iran, Egypt, Ethiopia and the United Arab Emirates joined the organization

BRICS is an acronym for the grouping of leading emerging market economies, namely Brazil, Russia, India, China and South Africa which aims to promote trade, investment, peace, security, development and cooperation.

The founding countries of Brazil, Russia, India, and China held the first leaders summit in Russia in 2009 under the name BRIC.

Following a renaming of the organization, South Africa attended its first summit as a member in 2011 after joining the group in 2010.

Iran, Egypt, Ethiopia, and the United Arab Emirates attended their first summit as member states at the 2024 summit in Russia.

The 2024 BRICS summit themed; “Strengthening Multilateralism for Fair Global Development and Security,” is the sixteenth annual BRICS summit, currently taking place in Kazan, Russia, from 22 to 24 October 2024.

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