BRICS leaders have decided to admit six new members: Argentina, Egypt, Ethiopia, Iran, Saudi Arabia, and the United Arab Emirates. The announcement is made during the ongoing summit of the BRICS, currently comprising Brazil, Russia, India, China, and South Africa. Such expansion is considered a move to rebalance Western powers and reshape global governance.

Ramaphosa and leaders like Prime Minister Narendra Modi of India, Chinese President Xi Jinping, and Brazilian President Luiz Inacio Lula da Silva shared the news during the summit. The expansion is to happen on January 1 next year, and BRICS countries have sought to amplify Global South voices in global affairs, giving shape to development agendas.

The decision is thus important for its possibility to boost BRICS's role in the international arena. The expansion seeks to reflect changing times and promote a multipolar world order. According to leaders like Modi, adding new members will enhance organizational efforts and initiatives while emphasizing the significance of adaptation in light of evolving circumstances.

The move has been welcomed as one with potential for inspiring reform among other global institutions established within this same 20th-century period. The BRICS bloc holds over two-thirds of the world's population, GDP, and trade levels, playing an instrumental role in today's economic growth globally.