10 New Countries Might Join BRICS in 2024
The BRICS alliance could induct 10 new countries into the alliance during the upcoming summit in October 2024. The 16th BRICS summit is scheduled to be held in the Kazan region of Russia between October 22 to 24, 2024. Russia has proposed the idea of adding 10 new ‘partner countries’ that would add a strong value proposition to the bloc.
Also Read: BRICS: Saudi Arabia Makes Massive Oil and Gas Discovery
The modalities of the engagement of partner countries are yet to be finalized with a set of rules and regulations. The idea could be shared with BRICS members during the 16th summit in October. Russia wants to add more countries to push them to use local currencies and not the US dollar. Read here to know how many sectors in the US will be impacted if BRICS ditches the dollar for trade.
Also Read: BRICS: JP Morgan Predicts Huge US Stock Market Crash
BRICS: Russia Wants To Add 10 New ‘Partner Countries’ in 2024
Russia plans to ask BRICS members to select 10 countries from the 33 nations that formally applied to join BRICS. A government official said on the anonymity that “Russia wants to create a partner-country group. Each country has been asked to give a list of 10 countries out of the 33 countries that have applied to join BRICS. The common 10 countries may become the partner countries. That is the proposal. We have to take a call whether we are okay with that or not,” the official said to Business Standard.
Also Read: BRICS: JP Morgan Predicts Huge US Stock Market Crash
Russia’s idea of adding 10 new partner countries might face opposition from BRICS members, especially India. The Modi-led government might strike down the proposal as it wants to pause BRICS expansion for another five years. Four new countries joined the alliance this year and India wants to give the bloc some space to develop. India wants to preserve the character of the alliance by forging alliances with countries that have promising economies.
Read More
10 New Countries Might Join BRICS in 2024
The BRICS alliance could induct 10 new countries into the alliance during the upcoming summit in October 2024. The 16th BRICS summit is scheduled to be held in the Kazan region of Russia between October 22 to 24, 2024. Russia has proposed the idea of adding 10 new ‘partner countries’ that would add a strong value proposition to the bloc.
Also Read: BRICS: Saudi Arabia Makes Massive Oil and Gas Discovery
The modalities of the engagement of partner countries are yet to be finalized with a set of rules and regulations. The idea could be shared with BRICS members during the 16th summit in October. Russia wants to add more countries to push them to use local currencies and not the US dollar. Read here to know how many sectors in the US will be impacted if BRICS ditches the dollar for trade.
Also Read: BRICS: JP Morgan Predicts Huge US Stock Market Crash
BRICS: Russia Wants To Add 10 New ‘Partner Countries’ in 2024
Russia plans to ask BRICS members to select 10 countries from the 33 nations that formally applied to join BRICS. A government official said on the anonymity that “Russia wants to create a partner-country group. Each country has been asked to give a list of 10 countries out of the 33 countries that have applied to join BRICS. The common 10 countries may become the partner countries. That is the proposal. We have to take a call whether we are okay with that or not,” the official said to Business Standard.
Also Read: BRICS: JP Morgan Predicts Huge US Stock Market Crash
Russia’s idea of adding 10 new partner countries might face opposition from BRICS members, especially India. The Modi-led government might strike down the proposal as it wants to pause BRICS expansion for another five years. Four new countries joined the alliance this year and India wants to give the bloc some space to develop. India wants to preserve the character of the alliance by forging alliances with countries that have promising economies.
Read More