The BRICS countries are becoming increasingly important, and 19 countries have already asked to join before their yearly meeting. Also, the event will happen in South Africa this summer, and many countries are trying to get in.
The BRICS group said earlier this year that they were open to new members. Also, since the group of countries has a higher GDP (PPP) than the G7, it seems that growth could continue to change the balance of power around the world. In particular, because they keep trying to replace the US dollar in foreign trade.
BRICS Countries Receive Participation Request
The BRICS countries have received participation requests from 19 countries before their yearly meeting in South Africa. Also, the countries want to join the rising group, which includes Brazil, Russia, India, China, and South Africa.
Bloomberg reported on the growing list of applicants after they said they were ready to grow. Also, the South African minister to the group, Anil Sooklal, talked about the meeting and more specifically, what topics will be discussed at the June event.
“What will be discussed is the expansion of BRICS and the modalities of how this will happen,” he said, according to Bloomberg. Additionally, stating that “thirteen countries have formally asked to join and another six have asked informally. Conclusively, Sooklal said new applications are submitted “every day.”
China started talking about possible growth last year. On the other hand, the BRICS countries were worried about their “influence being diluted,” according to the story. In particular, people are worried that Beijing’s close friends will be included. Most of this is because China’s GDP is already twice as big as the other four BRICS countries’ GDPs.
The five-member states could also send their foreign ministers to the meeting. Also, the talk of growth will be a significant point. Ultimately, the desire to join could force BRICS to grow. It will be interesting to see what this means for its war against the US dollar.