Argentina, Iran Apply to Join BRICS Group of Emerging Economies That Includes China and Russia

Russian President Vladimir Putin takes part in the XIV BRICS summit in virtual format via a video call, in Moscow, on June 23, 2022. Mikhail Metzel/Sputnik/AFP via Getty Images

Argentina and Iran have applied to join to become members of the group of emerging economies known as the BRICS, according to officials.

The BRICS includes the world’s leading emerging market economies: Brazil, Russia, India, China, and South Africa, and is an acronym for those developing nations, which represent 42 percent of the world’s population and 24 percent of the global gross domestic product.