JOHANNESBURG /South Africa/, August 24. /TASS/. BRICS nations have reached consensus on the first phase of the group’s expansion, and further phases will follow, South African President Cyril Ramaphosa said, announcing the outcome of the 15th BRICS Summit.

"As the five BRICS countries, we have reached agreement on the guiding principles, standards, criteria and procedures of the BRICS expansion process," he pointed out. "We have consensus on the first phase of this expansion process, and further phases will follow," Ramaphosa added.

"We have decided to invite the Argentine Republic, the Arab Republic of Egypt, the Federal Democratic Republic of Ethiopia, the Islamic Republic of Iran, the Kingdom of Saudi Arabia and the United Arab Emirates to become full members of BRICS. The membership will take effect from January 1, 2024," Ramaphosa announced.

He emphasized that BRICS "is an equal partnership of countries that have differing views but have a shared vision for a better world."