Leaders of the BRICS economies announced the expansion of the grouping to include Argentina, Egypt, Ethiopia, Iran, Saudi Arabia and the United Arab Emirates as new members at a news conference during its 15th Summit in Johannesburg on Thursday.

The six countries' membership will take effect on Jan 1, 2024, South African President Cyril Ramaphosa announced at a press conference.

"We value the interests of other countries in building the partnership of BRICS," said Ramaphosa.

BRICS leaders met in Johannesburg from Aug 22 to 24 to discuss issues including deepening BRICS cooperation and the group's expansion.