The growing prominence of the BRICS countries is only set to continue expanding, as 19 nations have submitted membership requests ahead of their annual summit. Moreover, the event is set to take place in South Africa this summer, as a host of nations are seeking entry.
Earlier this year, the BRICS collective made it known that they were open to new members. Additionally, as the bloc of countries has surpassed the G7 nations in GDP (PPP), it seems expansion could continue to implement a shift in the global power balance. Specifically, amidst their continued efforts to replace the US dollar in international trade.
Ahead of their annual summit taking place in South Africa, the BRICS nations have seen 19 nations submit membership requests. Moreover, the countries are seeking to join the growing collective already comprised of Brazil, Russia, India, China, and South Africa.
Bloomberg reported the emerging application list, following previous statements on their willingness to expand. Additionally, Anil Sooklal, the South African ambassador to the group, discussed the summit. Specifically, what topics are set to be on the agenda for discussion 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.”
Last year, China initiated a discussion regarding potential expansion. Conversely, there was concern among the BRICS nations about their “influence being diluted,” the report states. Specifically, there is concern over Beijing’s close allies being included. Mostly due to China’s gross domestic product already being twice the size of the four other BRICS countries combined.
Alternatively, the five member states will have foreign ministers in attendance at the summit. Moreover, it appears as though the discussion of expansion will be a primary point. Ultimately, it feels as though the demand for entry could make BRICS growth inevitable. Interestingly, what that means regarding its war against the US dollar will be interesting.