MOSCOW, August 1. /TASS/. Algeria’s readiness to join BRICS is a clear sign the group’s role in the world economy is growing and the developing countries wish to establish cooperation with it, the program director of the Valdai Discussion Club, Yaroslav Lissovolik, told TASS on Monday.
"This indicates that BRICS as a world economic bloc is on the ascent. It is important to note that in recent weeks we have seen and heard signs of the wish to cooperate with BRICS coming from almost all developing regions of the world - countries in Africa, Latin America and Asia. The role of BRICS as a bloc in the global economy is expanding," Lissovolik said.
According to the analyst, "some developing countries, such as Algeria, see BRICS as a platform for interaction with other developing countries in a variety of formats."
"Developing countries are aware of the wide and diverse opportunities for interaction based on such platforms. There may be platforms for economic integration, trade liberalization, the use of alternative payment systems, and national currencies," he said.
Lissovolik stressed that BRICS membership would grant Algeria an opportunity to "conclude alliances on the platform with other developing countries and access new markets."
"Earlier this year, Algeria participated in the BRICS+ format, possibly because this year it is more involved in the process of cooperation with the BRICS countries in the BRICS+ format," he added.
Lissovolik stressed that that Algeria was one of the largest African economies and its admission to BRICS would depend on the "specific conditions" still to be worked out by the member countries in the foreseeable future for candidates eager to join the core of the bloc. "These conditions may include the size of the candidate country’s economy, the regional role, and the role of the main candidate in the regional integration group it represents," Lissovolik explained.
At the same time, the expert stressed that "Algeria's close cooperation with the BRICS countries in the BRICS+ format will continue to develop."
Candidate countries
On Monday, Algeria’s President Abdelmadjid Tebboune said that his country was interested in joining the BRICS. Argentina and Iran applied for BRICS membership in June 2022.
Later, the president of the BRICS International Forum, Purnima Anand, said that Egypt, Saudi Arabia and Turkey were also planning to apply for admission to this association. She said that already at the next summit a discussion can take place and a decision made on the admission of some of these countries.
BRICS incorporates Brazil, Russia, India, China and South Africa. The purpose of the association, created at Russia’s initiative in 2006, is the development of all-round cooperation among the participating states.