The BRICS group (Brazil, Russia, India, China and South Africa) recently held a meeting with 20 countries to discuss the expansion of the Alliance. The meeting took place in Nizhny Novgorod, Russia, and was attended by foreign ministers from BRICS member countries, as well as representatives from over 20 countries in the Middle East, Asia and Africa.
Alliance expansion
The expansion of the BRICS Alliance is an important topic of discussion. The group has already welcomed two new members, Egypt, Ethiopia, Iran, Saudi Arabia and the United Arab Emirates, in January 2024. This expansion is seen as an important step towards the creation of a multipolar world, where emerging countries have a greater say in international affairs. It also reflects a change in geopolitical and economic dynamics on a global scale.
Expansion objectives
The expansion of the BRICS Alliance has multiple objectives. Firstly, to strengthen economic and trade ties between member countries. The second is to promote cooperation in security and defense. Finally, it is to create an alternative payment system to the US dollar, which is currently the main means of international payment. The aim is to reduce dependence on the dollar and increase the financial autonomy of member countries.
Implications for the future
The implications for the future of the BRICS Alliance’s expansion are significant. Firstly, it could lead to an increase in the economic and political power of the member countries. Secondly, it could increase international cooperation and reduce tensions between countries. Finally, it could lead to greater diversification of international payment systems.
