BRICS developments this week

According to webangah News agency, Algeria has finalized its membership in the New Progress Bank (NDB) by formally submitting ⁣its accession documents. NDB President Dilma Rousseff congratulated Algeria, ‌calling this move a important step toward strengthening cooperation.

Brazil’s ‍health Ministry ⁢announced that its domestically developed COVID-19⁤ vaccine,using entirely Brazilian technology and components,has entered Phase 3 ⁢clinical trials. Authorities have invested 140 million Brazilian reals (over $24.7 million) in the project so far.

Ethiopian Prime Minister Abiy Ahmed stated at a national technology ⁢exhibition that Africa has entered a new ⁢era, ​where independent AI development could drive inclusive growth and help achieve the African union’s Agenda 2063.

China⁢ and ⁤ASEAN have concluded negotiations for ⁢the upgraded china-ASEAN​ Free Trade⁢ Area (CAFTA 3.0), adding nine new chapters covering digital economy and green development sectors.

Indonesian President ​Prabowo Subianto expressed ⁣full support for Thailand’s BRICS membership. Thailand joined as a partner country⁣ effective January 1,‌ 2025.

Indian researchers have identified synthetic compounds with potential to treat neurodegenerative diseases like Alzheimer’s and Parkinson’s, wich could form the basis for future drug development.

Iran and Russia aim to boost bilateral trade to $10 billion by enhancing financial reforms and regional connectivity through BRICS and Shanghai Cooperation Association frameworks.

Separately, ⁢Russia and UAE agreed to⁢ develop a joint roadmap for environmental cooperation covering biodiversity conservation, waste ‌management, applied meteorology, and forestry.

The Egyptian government plans to transform the country into a regional mining hub through domestic production expansion and increased exports.