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South Africa Reveals 40 Additional Countries Eager to Join BRICS

Published

10 months ago

July 23, 2023

The BRICS group of emerging economies – Brazil, Russia, India, China, and South Africa – has emerged as an alternative to the Western-dominated global order. The bloc’s appeal has attracted the interest of approximately 40 countries seeking to join, setting the stage for discussions during the upcoming summit in August, which will be hosted by the current BRICS chair, South Africa, in Johannesburg as reported by Voa News.

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South Africa’s BRICS ambassador, Anil Sooklal, revealed that countries such as Argentina, Iran, Saudi Arabia, and the United Arab Emirates are among those keen to become full members. Sooklal highlighted Global South nations’ confidence in the organisation, with 22 countries formally approaching BRICS for membership and an equal number expressing informal interest.

BRICS has made significant strides and is now perceived as a “powerful force.” With 31.7% of global GDP measured by purchasing power parity, it has surpassed the G-7, a forum of advanced democracies that includes the U.S. However, analysts offer differing assessments of BRICS’ concrete achievements since its establishment in 2009.

One prominent accomplishment is the New Development Bank, which has provided substantial lending and garnered international attention. Some increased trade between member countries has also been observed. Yet, opinions on BRICS’ overall record vary, leaving the potential for future developments to determine its true impact.

Mikatekiso Kubayi, a researcher at the Institute for Global Dialogue, praises BRICS’ achievements, noting its successful establishment of an international development finance institution and its exploration of alternative trade mechanisms and local currencies.

On the other hand, Aly-Khan Satchu, an economic analyst, acknowledges that BRICS initially faced scepticism and was viewed as primarily conceptual. While clear silver-bullet achievements might be lacking, Satchu sees BRICS evolving into a significant global player, reflecting the world’s increasing multi-polarity.

The upcoming summit will see all BRICS heads of state attendance, except for Russian President Vladimir Putin, who faces international arrest due to war crimes allegations in Ukraine. As the summit approaches, BRICS continues to garner attention and assert its presence on the global stage.