BRICS alliance to agree on Saudi Arabia’s membership request
The “BRICS” alliance will agree, at its 2023 summit, to Saudi Arabia’s membership request, according to “Forbes”.
This approval will make the BRICS group the world’s most powerful economic and trade alliance.
There are 5 BRICS countries; Brazil, Russia, India, China, and South Africa, and their land area represents a quarter of the globe’s surface.
The population of the BRICS countries represents 40% of the world’s population and represents significant economic power of nearly 30% of global GDP.
The “BRICS” alliance aims to establish a system parallel to the global financial system at present, and the “BRICS” countries are not included in a political coalition, and they move according to their desire to influence global trade.
It has been announced that China and Russia welcome Saudi Arabia and Argentina to join the BRICS group, considering that the next step is to expand the group under the name “BRICS +”.
“Before we talk about how and when the BRICS expansion will begin, we agreed to negotiate criteria and principles for reviewing this type of application among the five member states,” Lavrov said.
“We are already receiving formal requests to join the group, and we expect that negotiations on criteria and principles for expanding membership will not take long,” he added.
Lavrov pointed out that the requests to join the BRICS group are somewhat high, saying, “The interest in this global association is very high, and it continues to grow.
The head of the BRICS International Forum, Purnima Anand, announced last July that a group of countries, including Egypt, may soon join the group.
The special envoy in charge of major international partnerships at the Algerian Ministry of Foreign Affairs, Leila Zerrougui, said that Algeria had officially submitted a request to join the BRICS group.
It is scheduled to discuss requests for membership of the new countries at the summit of the group next year in 2023 in South Africa.
The BRICS economic alliance was founded by Brazil, Russia, India, and China in 2006, and South Africa joined the alliance in 2010.
The BRICS countries have adopted many initiatives to support cooperation in various fields.
Among these initiatives is the establishment of a development bank with a capital of $100 billion to finance development projects in member states.