BRICS not ruling out accepting more members – Putin

Jul 28, 2018
President Vladimir Putin of Russia said on Friday BRICS leaders were not ruling out the possibility of increasing the number of the bloc’s member states, but the decision on accepting more countries to the organisation should not be taken in a rush.
 
BRICS is the acronym coined by British Economist Jim O’Neill meant for an association of five
major emerging national economies: Brazil, Russia, India, China and South Africa.
 
“The candidates have not backed out, on the contrary, they have demonstrated readiness and to work within BRICS as full-fledged members, but at today’s meeting in a small format all my colleagues approached accepting new members to BRICS with caution.
 
“However, they certainly do wish to work with other states and do not exclude the possibility of BRICS expansion,” Putin said at a news conference after the BRICS summit in South Africa.
 
Putin said that the expansion issue needs further discussions, as such a serious question could not be solved “in one fell swoop.”
 
He also said that all decisions are being taken on the basis of consensus.
 
“There is really no some kind of formal leadership. All issues are resolved, decisions are being taken on the basis of consensus, with full respect for the interests of all participants in this
organisation,” Putin said.
 
“This is its huge advantage,” the president said.
 
 
 
Source: Bloomberg News

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