(Newsweek) The group, known by the acronym for its five core members, Brazil, Russia, India, China and South Africa (BRICS), consists of more than a quarter of the world's GDP and about 40% of the global population.
Though BRICS is not a formal alliance, and significant geopolitical differences exist between members, their common interest in shoring up economic and trade mechanisms outside the Western framework has demonstrated growing appeal abroad.
In the wake of the latest BRICS summit held in Beijing in June, Argentina and Iran applied to join the organization, and the bloc's current president, Purnima Anand, told Russia media the following month that Egypt, Saudi Arabia and Turkey were among the countries that have also expressed interest in following suit.
Over A Dozen Countries Apply To Join BRICS, The End Of The United States Is HAPPENING
On Monday, Algeria special envoy Leila Zerrougui confirmed her country was the latest to formally apply for BRICS membership, according to the Algerian news portal Al Shorouq.
Speaking at the last "BRICS+" summit hosted by China, Algerian President Abdelmadjid Tebboune argued that "the continued marginalization of developing countries, within the various institutions of global governance, constitutes a sure source of instability, inequality and development."
Tebboune was one of 19 world leaders to participate in the expanded BRICS format, and was joined by the heads of the five BRICS members as well as of Argentina, Cambodia, Egypt, Ethiopia, Fiji, Indonesia, Iran, Kazakhstan, Malaysia, Nigeria, Senegal, Thailand and Uzbekistan.
Also potentially consequential is Saudi Arabia's bid to join the bloc. Weeks after OPEC+, OPEC's expanded group, decided to cut global oil output by two million barrels, fraying already strained ties between Washington and Riyadh as President Joe Biden fought to keep fuel prices down, Russian President Vladimir Putin openly backed the idea of Saudi Arabia joining BRICS.
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