The foreign ministers of the BRICS (Brazil, Russia, India, China and South Africa) group of major emerging economies are in Cape Town for a summit aimed at discussing enlargement and other strategies to establish the bloc as a key alternative to Western geopolitical dominance.
The top diplomats of BRICS plan to discuss the membership applications of nearly 20 countries from Africa, Latin America, and Asia.
The talks serve as a prelude to an August summit in Johannesburg, with analysts saying discussions would focus on boosting trade in local currencies, deepening ties among current members and admitting new ones, including major oil-producing countries.
BRICS is a rising competitor to the G7 group of Western industrial countries.
The member states’ economies have more than 40% of the world’s people and almost a quarter of the world’s gross domestic product.