A decision on the much-speculated possible expansion of the Brazil, Russia, India, China and South Africa (BRICS) group of countries is imminent.
This according to President Cyril Ramaphosa who was making remarks during the 15th BRICS Summit currently underway at the Sandton Convention Centre in Johannesburg.
"We stand at the cusp of expanding the BRICS family because it is through this expansion that we will be able to have a much stronger BRICS in these turbulent times that we live in. We await the decision that will be taken by the BRICS leaders in this regard, in due course, as we go on with our Summit.
"We stand at another momentous moment. This is a matter that we are discussing and hopefully we will find a clear solution to this matter as we discuss it among ourselves as BRICS leaders," President Ramaphosa said.
In its current iteration, the group includes Brazil, Russia, India, China and South Africa and reports have suggested that in excess of 20 countries - mainly from the global south - have registered their interest in joining the group.
Any announced expansion of the BRICS group is expected to propel the group towards increased global influence in world relations as it already represents more than 40% of the world's population (at least 3 billion people) and some 31% of the global GDP.
Delivering his remarks, Chinese President Xi Jinping - a known proponent of the expansion - said the process to bring more countries under the BRICS umbrella must be "accelerated".
"I am glad to see the growing enthusiasm of developing countries about participating in BRICS cooperation and quite a number of them have applied to join the BRICS cooperation mechanism.
"We need to make good use of the BRICS plus cooperation format and accelerate the BRICS expansion process to bring more countries into the BRICS family so as to pool our strength, pool our wisdom to make global governance more just and equitable," he said.
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India Prime Minister Narendra Modi said his country endorses bringing more countries into the fold.
"India fully supports the expansion of BRICS membership and we welcome moving forward on this based on consensus.
"In 2016 during India's [BRICS] presidency, we had defined BRICS as a group building responsive, collective and inclusive solutions. Seven years later, we can say that BRICS will be breaking barriers, revitalising economies, inspiring innovation, creating opportunities and shaping the future," he said.
Russia President, Vladimir Putin, who addressed the Summit via video link, said when that country takes the lead of the group next year, any decision taken in this regard will be supported.
"During our chairmanship [of the BRICS group in 2024], we would like to do our utmost to efficiently facilitate the implementation of decisions adopted at this summit including with regard to the expansion of BRICS."
At the BRICS Business Council on Tuesday evening, Brazil President Lula da Silva hinted that growth of the group will only enhance its relevance.
"BRICS has a unique chance of shaping the global development path. Together, our countries make up a third of the global economy. This relevance will grow with the admission of new full members and dialogue partners. Collaboration between the public and private sector is vital for harnessing this potential and achieving lasting results," President da Silva said.
