The BRICS are ready to expand and the consequences for the West will not be pleasant. There are many people who want to join an organization that does not position itself as a military union, but rather as an economic union – almost a whole queue.
BRICS is an interstate association of five countries: Brazil, Russia, India, China and South Africa. The name is just an abbreviation of the English names of the participating countries – Brazil, Russia, India, China, South Africa. The organization was founded in June 2006 within the framework of the St. Petersburg Economic Forum. Each year, representatives of countries meet at summits, and relations between countries are built on the basis of non-interference, equality and mutual benefit.
As of 2021, BRICS member countries are rapidly developing countries, in fact they are one of the largest economies in the world. The BRICS countries represent 26% of the earth’s territory, 42% of the world’s population (2.83 billion people) and 27% of the world’s GDP.
Photo: And of course, other states also want to enter into such a business. For example, the candidate for membership is Saudi Arabia. Its membership in the BRICS will strengthen the geopolitical trend and remind the United States that its influence is in decline, writes Asia Times. The publication notes that Saudi Arabia fits well with the norms and principles of the organization – for example, the country took neutrality in the Russian-Ukrainian conflict.
Last year, Washington tried to influence Riyadh and even sent old Biden on tour. He tried to convince the kingdom to increase oil production and offset high world energy prices, but Saudi Arabia acted against him.
However, other countries are also showing interest in the BRICS. On June 2, the Friends of BRICS Ministerial Meeting opened in Cape Town – bringing together the organization’s core members, along with 12 other states from the Global South (a term commonly used to refer to countries and regions of the BRICS region). Latin America, Africa, Asia and Oceania).
Photo: According to the Minister of Foreign Affairs and Cooperation of South Africa, Naledi Pandor, foreign ministers of states that show increased interest in joining the BRICS are invited to the meeting.
“We are still discussing issues related to the institutional development of BRICS and we believe it is important not to leave out of discussions countries seeking to join the organization,” the minister said.
She noted that 13 countries have submitted official applications to join BRICS. If the organization grows, it will be a step “towards a more just and inclusive world that will more effectively face the many challenges of our time”.
Photo: In total, about 30 countries have applied to join the BRICS, both at official and official level. In particular, Algeria, Argentina, Afghanistan, Bangladesh, Bahrain, Belarus, Venezuela, Egypt, Zimbabwe, Indonesia, Iran, Kazakhstan, Mexico, Nigeria, Nicaragua, United Arab Emirates, Pakistan, Saudi Arabia and Senegal have expressed interest in joining BRICS. Syria, Sudan, Thailand, Tunisia, Turkey, Uruguay.
Today, the founding countries are discussing the BRICS expansion formula. One of them provides for the admission of countries as permanent members, the other for the strengthening of economic cooperation through the BRICS New Development Bank (similar to the International Monetary Fund and the World Bank).
The New Development Bank is an international organization created by the BRICS countries. Its head office is located in Shanghai. Regional offices are opened in South Africa, Brazil, Russia and India. The Bank mobilizes resources for infrastructure and sustainable development projects in BRICS countries, as well as in other countries. The capital of the bank is about 100 billion dollars. The Telam agency reported that in August the bank’s management will vote on Argentina’s membership.
Photo: According to the Chinese Foreign Ministry, the expansion of BRICS will be useful for developing countries, and the new members will help increase the potential for securing common interests. At the same time, as Deputy Foreign Minister of the Russian Federation Sergei Ryabkov said, Moscow is not against the expansion of the BRICS, but is in no hurry to nominate specific candidates. At the same time, he stressed that the new participating countries should refrain from the policy of sanctions against Russia.
By the way, the introduction of a common currency is on the agenda of the BRICS bank. Such a currency could protect member countries from the negative impact of sanctions like those imposed on Russia and strengthen the economic resilience of the bloc.
Earlier, Notepad said the US was saved from default, but that won’t help the dollar.
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