BRICS Interest Soars: 40+ Countries Seek Membership as De-Dollarization Efforts Grow

South Africa’s apical diplomat liable for BRICS relations has revealed that much than 40 countries are funny successful joining the economical bloc. Among them, 22 nations person formally applied for membership. He believes that the BRICS radical could grow to see much than 50 countries.

BRICS Group Attracts More Than 40 Nations

Anil Sooklal, South Africa’s apical diplomat successful complaint of BRICS relations, and officials from the South African overseas affairs section shared the latest stats connected BRICS rank applications successful a property league successful Johannesburg connected Thursday. South Africa volition big this year’s BRICS summit. The economical bloc comprises Brazil, Russia, India, China, and South Africa.

Sooklal revealed that 22 countries person formally asked to articulation the BRICS. He was besides quoted by Reuters arsenic saying:

An adjacent fig of countries … person informally expressed involvement successful becoming BRICS members … (including) each the large planetary southbound countries.

Countries funny successful joining the BRICS see Argentina, Iran, Saudi Arabia, the United Arab Emirates, Cuba, the Democratic Republic of Congo, Comoros, Gabon, and Kazakhstan.

The BRICS leaders’ acme volition instrumentality spot connected Aug. 22-24 successful Johannesburg, with 1 of the cardinal topics connected the docket being the treatment of BRICS expansion. Russian President Vladimir Putin, however, volition not beryllium attending successful person.

On Tuesday, Sooklal emphasized the accelerated enlargement of the BRICS bloc. The diplomat was quoted by IOL quality outlet arsenic saying:

With the enlargement of BRICS, it could summation to see much than 50 countries.

One of the topics that has received worldwide attraction is the projected communal BRICS currency. Russian quality outlet RT precocious claimed that the BRICS nations are launching a gold-backed currency that volition beryllium announced astatine the August summit. However, Leslie Maasdorp, vice president and main fiscal serviceman of the New Development Bank, besides known arsenic the BRICS Bank, has insisted that the BRICS does not person an contiguous plan to make a communal currency to situation the dominance of the USD.

According to IOL, Sooklal said the taxable of BRICS currency is not connected the acme agenda. He further stated:

We volition grow connected addressing the thought of deepening enactment successful trading successful section currencies. Countries privation to person greater flexibility and to beryllium little babelike connected the dollar.

Brazil’s President Luiz Inácio Lula da Silva said successful June that helium intends to raise the contented of de-dollarization astatine the summit. He has been vocal astir countries ditching the U.S. dollar successful planetary commercialized and utilizing their nationalist currencies instead. The Brazilian person has besides expressed enactment for the instauration of a communal BRICS currency.

What bash you deliberation astir the fig of countries wanting to articulation the BRICS bloc? Let america cognize successful the comments conception below.