Brics leaders announced on Thursday the admission of six new countries from next year.

The Brics group of emerging economies – Brazil, Russia, India, China and South Africa – agreed at their annual summit to make Argentina, Ethiopia, Iran, Saudi Arabia, Egypt and the United Arab Emirates full members from January 1.

"This membership expansion is historic," President Xi Jinping said.

"The expansion is also a new starting point for Brics cooperation. It will bring new vigour to the Brics cooperation mechanism and further strengthen the force for world peace and development."

Ethiopian Prime Minister Abiy Ahmed hailed what he called "a great moment" for his country.

"Ethiopia stands ready to cooperate with all for an inclusive and prosperous global order," he said on X, formerly known as Twitter.

In Iran, senior presidential advisor Mohammad Jamshidi described the move as a "historic development and a strategic success" for Tehran's foreign policy.

“We look forward to a continued commitment of cooperation for the prosperity, dignity and benefit of all nations and people around the world,” United Arab Emirates leader Sheikh Mohammed bin Zayed Al Nahyan said on X.

Calls to enlarge the Brics had dominated the agenda at its three-day summit in Johannesburg. The group, which makes decisions by consensus, had agreed on "the guiding principles, standards, criteria and procedures of the Brics expansion process," said South African President Cyril Ramaphosa.

It's the second time that Brics has decided to expand.

The bloc was formed in 2009 by Brazil, Russia, India and China. South Africa was added in 2010.

The Brics bloc currently represents around 40 percent of the world's population and contributes more than a quarter of global GDP. (Agencies)