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InsighthubNews > Crypto > BRICS announces that 34 countries have formally applied for membership
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BRICS announces that 34 countries have formally applied for membership

September 15, 2024 3 Min Read
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India China BRICS Xi Jinping China Narendra Modi India
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of BRICS bloc Thirty-four countries have formally applied to join the alliance and are under review, the statement said. Russian President Vladimir Putin, the founding country of BRICS, revealed the development in a statement. The Russian president said the bloc is seeking organic integration of the bloc’s newest members. Putin added that 34 countries have expressed interest in the alliance and that active discussions about enlargement are taking place within the bloc.

According to Putin, the upcoming BRICS summit will likely be the venue for announcing new invitees to the bloc. The bloc’s annual summit has become an important gathering for the group. Moreover, this year’s summit seems rife with the possibility of breakthroughs. Putin said the new list of invitees will be decided at the summit in October.

Putin supports BRICS expansion at next summit

Enlargement has been a hot topic within the BRICS group since the expansion of BRICS+ earlier this year. In 2023, the group enacted its first expansion since 2001. The United Arab Emirates (UAE), Egypt, Ethiopia and Iran joined the bloc in January 2024. The bloc now has nine member states, with some speculating that more could join this year.

Russia has been leading the expansion of this bloc, with President Putin recently visiting several countries around the world. The Russian president is looking to expand trade relations with these countries he visits, but he and the BRICS chair are also keeping an eye on their willingness to join the alliance. The latest 34 countries that have expressed interest in joining the bloc appear to be spread across the Eastern Hemisphere. This includes ASEAN countries and countries on the African continent.

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Continued growth is valuable, but opinions are divided on the merits of that value. Currently, the EU seems divided on whether the 2024 summit expansion announcement is beneficial. Current member states are divided on adding more members, with countries such as Russia welcoming new members. Meanwhile, member states such as Brazil are hesitant about the idea. Brazil has said the new members need time to integrate before extending further invitations.

Ultimately, the group must reach an agreement at a summit this year, after which another five to 10 countries could be invited to join. If all agree, they would all join in 2025, and then expand to more than 10 members.

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