TEHRAN (Iran News) – South Africa’s representative in the BRICS group of emerging economies, Anil Sooklal, has stated that Iran, Saudi Arabia, the United Arab Emirates, Egypt, and Ethiopia will join the bloc on January 1, 2024.

At the recent BRICS meeting, which took place in Durban, South Africa, early in December, Sooklal underlined —referring to the attendance of high-ranking representatives of Iran, Saudi Arabia, the United Arab Emirates, Egypt, and Ethiopia— that the number of BRICS members will double with the addition of these nations.

He went on to add that the next conference of the economic group is scheduled for January 30 in Moscow, and it is expected that representatives of the new BRICS members will be there.

In a recent interview with Sputnik, Iran’s Deputy Foreign Minister for Political Affairs, Ali Bagheri Kani, emphasized Iran’s commitment, alongside other BRICS members, to actively pursue de-dollarization across various economic sectors.

Bagheri Kani highlighted the focus on trade, economic collaborations, and financial exchanges within this influential coalition of major economies.

He emphasized ongoing initiatives and expressed optimism about reinforcing these efforts to swiftly achieve their objectives.

Bagheri Kani underscored the importance of collaborative efforts, signaling a unified commitment within BRICS to reducing dependency on the dollar.

He clarified that the initiatives aim to establish a framework fostering economic autonomy and resilience among member nations.

The BRICS group, comprised of Brazil, Russia, India, China, and South Africa, established in 2009, has emerged as a significant force shaping global economic discussions.

Iran, alongside Argentina, Egypt, Ethiopia, the UAE, and Saudi Arabia, has received an invitation to join this influential bloc. Their anticipated full membership, official from January 1, 2024, marks a substantial shift in the geopolitical landscape.

Russia’s Deputy Foreign Minister, Sergey Ryabkov, provided insights into BRICS countries accelerating the transition to national currencies.

This strategic shift aligns with the shared vision of establishing a more balanced and resilient global economic framework, reducing vulnerabilities associated with a singular currency.

BRICS has announced plans to introduce a gold-backed currency for settling international trade payments, challenging the global reserve status of the U.S. dollar. This decision adds momentum to the ongoing de-dollarization trend unfolding in the global economy.

Iran’s active involvement in the BRICS initiative toward de-dollarization aligns with a broader trend among influential nations reshaping the global economic landscape. As BRICS evolves, its concerted efforts toward economic autonomy become increasingly significant in shaping the future of international trade and finance.