Brics to admit six new countries to bloc including Iran and Saudi Arabia

Argentina, Ethiopia, Egypt and UAE also to join club of large emerging economies in major expansion

The five Brics nations - Brazil, Russia, India, China and South Africa - have announced the admission of six new countries from next year as the club of large and populous emerging economies seeks to reshape the global order.

Argentina, Ethiopia, Iran, Saudi Arabia, Egypt and the UAE are to become full members from 1 January 2024, the group announced at its summit in South Africa.