"Naturally, the subject of BRICS, the group’s dynamic development and expansion, cannot go unnoticed in Chile where they traditionally pay close attention to integration processes and constantly seek new opportunities on joining global supply chains," he said.

"Such a perception of processes in BRICS, including during the Russian chairmanship, undoubtedly corresponds to current needs and will only grow stronger, both in Chile and in other countries in the region which is objectively turning into one of the development centers of the modern multipolar world," the envoy added, TASS reported.

BRICS is a major economic alliance of nations of the Global South, founded by Russia, China, India, and Brazil, with South Africa joining later. Recently, BRICS has undergone a major expansion with the addition of several new members.

The BRICS group of emerging economies has welcomed 2024 by officially adding five developing nations.

Specifically, the bloc introduced Saudi Arabia, the United Arab Emirates (UAE), Iran, Egypt, and Ethiopia to kick off the new year.

Last year, the BRICS economic alliance has flourished. In what was undoubtedly a year of growth, the bloc fast-tracked a host of initiatives. Those range from its de-dollarization plans to its first-ever expansion bid. The latter of which is finally set to be made official.

Indeed, the BRICS alliance has welcomed 2024 by officially adding five expansion nations to its ranks. Specifically, it introduced Saudi Arabia, the UAE, Iran, Egypt, and Ethiopia to be the first countries to constitute expansion since South Africa was added more than a decade ago.

The expansion is set to have massive geopolitical ramifications, as they could be hugely important to its multipolar goals.