The admission of new countries to the BRICS will allow member states to increase their influence on the global stage and strengthen OPEC+’s position in the energy market. This was stated by Columbia University Professor Jeffrey Sachs. DEA News.
“The expansion of BRICS will strengthen BRICS members and give them more weight in negotiations in international forums,” the American economist said.
He emphasized that the expansion of the club will also have another important result: the strengthening of OPEC+ on the energy agenda. According to the expert, the world is currently in the phase of active transition to carbon-free energy. Sachs also stated that the BRICS countries will play a leading role in this process.
The professor emphasized that the members of the association will lead the global production of strategic mineral resources. The expert concluded that the same applies to trade in the relevant international markets.
On August 24, South African President Cyril Ramaphosa held a press conference, announcing the results of the BRICS summit in Johannesburg. especially the president announced participation in the organization of six more states – Egypt, Iran, Argentina, the United Arab Emirates, Ethiopia and Saudi Arabia.
previously in the UK saidHow could the expansion of BRICS affect the world order?