BRICS Summit 2024: New Members and Growing Influence

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BRICS Summit 2024: New Members and Growing Influence


The BRICS alliance, comprising Brazil, Russia, India, China, and South Africa, is set to expand at its 2024 summit. Scheduled for October 2024 in Kazan, Russia, this summit will mark a significant milestone with the inclusion of four new members: the UAE, Egypt, Iran, and Ethiopia. This expansion reflects the growing influence of BRICS on the global stage, positioning it as a formidable economic bloc.


New Members Joining BRICS

The addition of the UAE, Egypt, Iran, and Ethiopia will officially transform BRICS into a nine-member bloc. This expansion, announced during the last summit, underscores the alliance's appeal to countries seeking to challenge the dominance of the US dollar and enhance their economic cooperation.


Anticipated Attendance and Global Interest

Vladimir Putin will host the 2024 BRICS summit in the Kazan region of Russia. Reports suggest that the alliance will extend invitations to many world leaders from developing countries, highlighting BRICS' role in fostering South-South cooperation. Notably, France, which was the only European country seeking to attend the last BRICS summit, was denied entry by Russia and China due to concerns over potential disruption. This year, France has shown no interest in participating.


Countries Expressing Interest in Joining BRICS

In 2024 alone, seven new countries have expressed their interest in joining the BRICS alliance before the 16th summit. These countries include Cameroon, Pakistan, Sri Lanka, Syria, Thailand, Venezuela, and Zimbabwe. This surge in interest indicates that many developing nations find the principles of BRICS attractive, particularly as a means to challenge the US dollar's hegemony.


The Geopolitical Implications

The expansion of BRICS and the interest from additional countries underscore a significant shift in the global geopolitical landscape. Developing nations view BRICS as a viable alternative to Western-dominated financial systems. The alliance's commitment to promoting local currencies for trade and reducing dependence on the US dollar is particularly appealing.


The Future of BRICS

The upcoming summit will not only welcome new members but also likely discuss strategies for further strengthening the alliance's economic and political influence. The addition of the UAE, Egypt, Iran, and Ethiopia is expected to bring diverse perspectives and resources, enhancing BRICS' collective capabilities.

Conclusion

The BRICS 2024 summit in Kazan, Russia, is set to be a pivotal event, marking the alliance's expansion and increasing its global influence. With seven more countries expressing interest in joining, BRICS continues to attract nations looking for alternatives to Western financial dominance. As the bloc grows, its role in reshaping global economic dynamics becomes increasingly significant.

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