Overview

Click to expand overview
Here are the highlights: 1️⃣ BRICS, representing 40% of the world's population, has invited six new countries, strengthening its influence. 2️⃣ Discussions on a shared currency to challenge In a historic move, BRICS inducted six new countries into the bloc this year out of the 45 applications they received. A total of 22 countries had formally sent their applications to join A total of 45 countries had expressed their interest to join BRICS before the 15th summit in Johannesburg in August. In a historic move, BRICS inducted six new countries WhileEgypt,Ethiopia,Iran, and theUnited Arab Emirateswere not admitted as members during the 15th BRICS summit, they were among 22 countries applying for membership. South African Minister of FinanceEnoch Godongwanasaid “There is a second batch of countries that are going to be added [to] BRICS. This means that there are plans for further BRICS expansion and the following countries are possible candidates due to their applications for membership. That being said, the BRICS alliance is likely to invite 5-8 nations to join the collective at the 2025 summit. Late last year, India’s officials disclosed the bloc’s agreement BRICS Begins 2025 With 10 Member Nations. Twitter. As Moscow assumed the presidency of BRICS this year, Russian President Vladimir Putin said this week that the group has become a Developing countries are siding by BRICS, as they look for alternative options to end dependency on the US dollar. Using local currencies for cross-border

39 Countries Eye BRICS Membership: Expansion Plans for 2024 and Beyond

The BRICS alliance is experiencing unprecedented interest, with a surge of nations eager to join its ranks. While not all 39 nations are joining in 2024, the future of BRICS expansion is looking bright. Developing countries are siding by BRICS, as they look for alternative options to end dependency on the US dollar. Using local currencies for cross-border trade is a key incentive.

BRICS Expansion: Key Takeaways

Here are the highlights:

  1. BRICS, representing 40% of the world's population, has invited six new countries, strengthening its influence. This demonstrates the growing power and attractiveness of the bloc.
  2. Discussions on a shared currency to challenge the US dollar are ongoing. This initiative aims to promote economic independence among member nations.

The 2023 Expansion: A Historic Move

In a historic move, BRICS inducted six new countries into the bloc this year, selected from a pool of 45 applicants. A total of 22 countries had formally sent their applications to join before the 15th summit in Johannesburg in August. These additions signal a shift in global economic power dynamics.

Who Applied to Join BRICS?

A total of 45 countries had expressed their interest to join BRICS before the 15th summit in Johannesburg in August. In a historic move, BRICS inducted six new countries. While Egypt, Ethiopia, Iran, and the United Arab Emirates were not admitted as members during the 15th BRICS summit, they were among the 22 countries applying for membership.

What's Next for BRICS Expansion?

South African Minister of Finance Enoch Godongwana said “There is a second batch of countries that are going to be added [to] BRICS. This means that there are plans for further BRICS expansion and the following countries are possible candidates due to their applications for membership. That being said, the BRICS alliance is likely to invite 5-8 nations to join the collective at the 2025 summit.

BRICS in 2025: Looking Ahead

Late last year, India’s officials disclosed the bloc’s agreement. BRICS Begins 2025 With 10 Member Nations. (Source: Twitter). As Moscow assumed the presidency of BRICS this year, Russian President Vladimir Putin said this week that the group has become a vital platform for international cooperation.

Top Sources

Related Articles