A group of economically-aligned nations known as BRICS is reportedly sorting through a surge of interest from countries wishing to join the coalition.
The group, which is exploring the launch of a global currency that would circumvent the US dollar, is preparing to respond to a wave of applications from like-minded countries, reports Telesur.
Naledi Pandor, South Africa’s Foreign Affairs Minister, BRICS leaders will release a list of requirements for those looking to join.
“BRICS is attracting a lot of interest from a number of countries, and our sherpas are working on the concept of how the group can respond to this interest. We hope that our leaders will present final guidelines at the conclusion of the BRICS Summit. The growing interest in the alliance shows that many countries are looking for a multipolar forum that is modern, inclusive and focused on the common good.”
Pandor says the New Development Bank, a private, multilateral development bank established by BRICS states, is helping new members establish themselves on a global economic stage that has historically been dominated by the US and Western allies.
“We are encouraged by the growth and sustainability of the New BRICS Development Bank and welcome new members. The Bank has helped the members to provide financing for infrastructure needs, support the unlocking of regional value chains and localisation of productive capacities.”
The South African official says integrating the new members and strengthening the BRICS coalition is among the organization’s goals for 2023.
BRICS stands for the nations of Brazil, Russia, India, China and South Africa.
The list of nations that reportedly want to join the alliance includes Saudi Arabia, Iran, Argentina, the United Arab Emirates, Algeria, Egypt, Bahrain, Indonesia, two unnamed nations from East Africa and one from West Africa.