The BRICS alliance has officially added 13 new countries as partners. This move aims to increase its influence beyond the original five members: Brazil, Russia, India, China, and South Africa, and to create a more inclusive global economy.
This announcement was made at the BRICS summit happening in Kazan, Russia. Said Russian President Vladimir Putin during the summit:
This expansion marks a new chapter for BRICS as we continue to build a more inclusive, representative global order.
By adding these new partner nations, we are reaffirming our commitment to creating a multipolar world that benefits not just the West but all regions.
The new countries that have joined BRICS as partner nations are Algeria, Belarus, Bolivia, Cuba, Indonesia, Kazakhstan, Malaysia, Nigeria, Thailand, Turkey, Uganda, Uzbekistan, and Vietnam. They are not full members yet.
This expansion of BRICS is a response to the need for alternatives to Western-led institutions like the International Monetary Fund (IMF) and the World Bank.
However, BRICS faces challenges. The different political systems and economic situations of the new partner countries will need careful planning to make sure the group’s projects work well.
The BRICS Alliance was initially known as BRIC before South Africa joined in 2010, making it BRICS.
The alliance aims to improve economic growth, support trade and investment, and provide a platform for political dialogue among member countries.
The alliance focuses on promoting trade among member countries and reducing reliance on Western currencies.
More: Pindula News