Russian President Vladimir Putin revealed that over 30 countries have expressed a strong desire to join the BRICS bloc, signalling the organisation’s growing global influence. This announcement comes amid heightened geopolitical shifts as BRICS—comprising Brazil, Russia, India, China, and South Africa—continues to expand its reach and importance on the global stage.
According to President Putin, 34 countries are eager to collaborate with BRICS in some capacity. These nations include Türkey, Malaysia, Algeria, Venezuela, and Nigeria, among others, reflecting the bloc’s increasing attractiveness as an alternative to Western-led financial and trade systems. The upcoming BRICS summit, to be held in Kazan, Russia, from October 22 to 24, 2024, will focus on solidifying this expansion and discussing potential pathways for countries interested in joining the organization.
The BRICS group’s significance has grown rapidly in recent years. The bloc currently represents 45% of the global population and about 28% of the world’s nominal GDP. With new members such as Egypt, Ethiopia, Iran, Saudi Arabia, and the UAE joining in 2024, the group’s combined economic output continues to rise, particularly in sectors like oil production and trade.
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While the group is considering expanding its membership, Russian Foreign Minister Sergey Lavrov has suggested a temporary pause on new admissions to prioritize integration of recently joined members. Nonetheless, BRICS is working on creating a “partner country” status, which could act as a stepping stone for full membership, allowing more nations to align with its objectives of economic cooperation and equitable global development.
This expansion is seen as a move to challenge Western dominance and foster a multipolar world, offering new avenues for trade, development, and diplomacy across regions.(Input from agencies)
