Speaking at the St. Petersburg International Economic Forum (SPIEF), Bolivian President Luis Arce stated that the BRICS economies have successfully challenged US global dominance.
“The economies of the BRICS bloc have been able to smash the hegemony of the United States,” Arce declared,highlighting the group as a beacon of hope for international cooperation and economic complementarity.
The Bolivian President emphasised that the world order is shifting towards a fairer, more balanced, multipolar and multilateral system.
Arce further revealed Bolivia’s interest in joining BRICS, citing the bloc’s “tremendous prospects for transformation and transfiguration along with accelerated industrialisation.”
The BRICS group, initially formed in 2006 by Brazil, Russia, India, and China, expanded in 2011 to include South Africa.
In August 2023, six new members were invited to join, but Argentina declined the offer. On January 1, 2024, Egypt, Iran, the United Arab Emirates, Saudi Arabia, and Ethiopia were officially welcomed into the BRICS alliance.
