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Iran has formally applied for membership in the BRICS, according to Iran's Foreign Ministry.
On Monday, Iranian Foreign Ministry spokesman Saeed Khatibzadeh said Iran's entry would bring additional value to all emerging economies group members, including Brazil, Russia, India, China and South Africa.
The Foreign Ministry spokesman said Iran's membership application has already been consulted with the BRICS bloc, which he said has a "very creative mechanism with extensive aspects."
Khatibzadeh said that BRICS member countries represent 30 percent of the world's GDP and 40 percent of the global population. In this sense, he added that Iran's entry would bring additional value to the bloc.
On the occasion of the XIV BRICS summit hosted by China, Iranian President Ebrahim Raisi said Friday via videoconference that his country was open to sharing its capabilities and potential with the group.