Two countries applied to join BRICS

Brazil, Russia, India, China and South Africa, which make up the BRICS countries, see potential in the bloc of Iran and Argentina.

Tehran 's Ministry of Foreign Affairs announced on Monday that the Islamic Republic of Iran has formally applied to join five leading economic groups consisting of Brazil, Russia, India, China and South Africa, TRT Haber reports.

The move comes after the Iranian president addressed the BRICS summit last week.

Iran's Foreign Ministry spokesman Saeed Khatibzadeh said on Monday, according to Tasnim news agency, that the BRICS "has a very creative mechanism with broad aspects." He added that Tehran has already held "a series of consultations" with the BRICS on the application. added.

"Iran's membership will add value to everyone"

Noting that Iran's membership will "add value" for everyone involved, Khatibzadeh said BRICS members account for 30% of the world's GDP and 40% of the global population.

On Friday, Iranian President Ibrahim Reisi addressed the BRICS virtual summit hosted by China and expressed Tehran's readiness to share its capabilities and potential with the group.

Argentina has also applied to join the BRICS. President Alberto Fernandez on Friday called for the creation of cooperation mechanisms that could provide alternatives to Western-led institutions that are in the West's interest.

During Wednesday's session, Russian President Vladimir Putin said the five-member group is working to create a new global reserve currency.