On January 1, 2024, BRICS announced the accession of six new countries: Egypt, Ethiopia, Saudi Arabia, UAE, Iran, and Argentina. Key BRICS activities include:
1. Economic Cooperation – Establishing the New Development Bank (NDB) to support international development projects.
2. Financial Independence – Promoting trade in local currencies to reduce dependence on the US dollar.
3. Technological Collaboration – Engaging in joint projects in fields like space exploration and energy technology.
4. Political Collaboration - Strengthening diplomatic ties to enhance the global influence of emerging economies and advocate for a multipolar world order.