PRETORIA, August 24. /TASS/. The BRICS aims to reform the global governance architecture, South Africa’s BRICS sherpa Anil Sooklal says.

"The establishment of the BRICS group has provided a platform for our nations to consolidate our economic clout and lobby for more equitable and inclusive economic and financial reform," he said in his op-article for Zimbabwe’s The Herald. According to Sooklal, BRICS countries "set out as an objective the reform of the global governance architecture — the UN and its institutions, committees and organizations," which includes the UN Security Council, and therefore challenge the traditional dominance of Western powers.

Sooklal explained that, in order to reform the existing financial architecture, the New Development Bank has been established within the BRICS, and active discussions are underway on creation of a currency that will serve as an alternative to the dollar.

"BRICS has thus charted a new disruptive path for financial and economic development and global governance, focusing on inclusivity, fairness, and shared prosperity," Sooklal notes.

Secretary General of South Africa’s ruling African National Congress political party Fikile Mbalula noted that the BRICS expansion will significantly affect the geopolitical landscape, according to the SABC TV Channel.

Following the August 22-24 BRICS Summit in Johannesburg, BRICS leaders announced that Argentina, Egypt, Iran, the UAE, Saudi Arabia and Ethiopia will join the association starting on January 1, 2024.