News / Six new members as BRICS trade bloc targets growing markets - theloadstar.com

The BRICS trade bloc, consisting of Brazil, Russia, India, China, and South Africa, is expanding by bringing six more countries into the fold: Argentina, Egypt, Ethiopia, Iran, Saudi Arabia, and the UAE. The expansion comes in response to weakening global economic growth and the decline in economic prospects. China and India have dominated trade within BRICS, and efforts are underway to develop alternative payment systems to bypass western sanctions. The expansion is expected to drive logistics demand and contribute to the bloc's potential to become a major global economic powerhouse.

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