40+ Countries Seek BRICS Membership with 22 Formal Applications, Massive Expansion on Horizon

At a Johannesburg press conference on Thursday, Anil Sooklal, South Africa’s lead diplomat for BRICS ties, and other foreign affairs officials provided updates on BRICS expansion. South Africa is hosting the BRICS summit this year.

Sooklal disclosed that 22 countries have formally applied for BRICS membership so far. He also stated that an equal number have unofficially conveyed interest in joining, including major developing nations worldwide.

The economic alliance of Brazil, Russia, India, China, and South Africa continues to see rising demand globally, with over 40 nations interested and 22 formal applicants to potentially expand BRICS well beyond its current size.

Some of the nations interested in BRICS membership are Argentina, Iran, Saudi Arabia, UAE, Cuba, DR Congo, Comoros, Gabon, and Kazakhstan.

The upcoming BRICS summit in Johannesburg from August 22-24 will discuss potential expansion of the bloc. However, Russian President Putin will not attend in person.

Diplomat Anil Sooklal noted BRICS could grow to over 50 countries with the addition of new members. A proposed common BRICS currency has also gained global attention recently.

But the BRICS Bank VP said there is no immediate plan for a shared currency rivaling the USD. According to Sooklal, a BRICS currency is not on the summit agenda currently. The focus will be on increasing trade in local currencies and reducing dollar dependence.

Brazilian President Lula da Silva wants to raise de-dollarization at the summit, having advocated national currencies replacing the dollar in global trade. Lula has also voiced support for a joint BRICS currency, but actual plans remain uncertain.

#BRICS #BRICSExpansion #GlobalEconomy #USDollar #Currency

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