(Reuters) – A “new scenario” opens for Argentina with the invitation for the South American country to join the BRICS group of developing nations, President Alberto Fernandez said on Thursday.
Fernandez added that joining the bloc would be a “great opportunity” to strengthen the nation, which has been in economic crisis with a weakened currency, dried-up foreign reserves and spiraling inflation.
Argentina wanted to join BRICS – a group currently made up of Brazil, Russia, India, China and South Africa – because of the bloc’s geopolitical and financial importance during a difficult global context, Fernandez said in a speech.
“We open up our possibilities of joining new markets, of consolidating existing markets, of raising investment coming in, of creating jobs and raising imports,” he said.
Argentina was invited to join BRICS along with Saudi Arabia, Iran, Ethiopia, Egypt and the United Arab Emirates, as the group convenes in South Africa this week.
By joining BRICS, Argentina will act as an important interlocutor and potential broker for consensus with other nations, Fernandez added.
(Reporting by Gabriel Araujo and Kylie Madry; editing by Christina Fincher and Chizu Nomiyama)
