{"id":1919009,"date":"2023-04-25T15:40:31","date_gmt":"2023-04-25T19:40:31","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/brics-bloc-may-expand-as-19-nations-request-membership-official-reveals\/"},"modified":"2023-04-25T15:42:08","modified_gmt":"2023-04-25T19:42:08","slug":"brics-bloc-may-expand-as-19-nations-request-membership-official-reveals","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/brics-bloc-may-expand-as-19-nations-request-membership-official-reveals\/","title":{"rendered":"BRICS Bloc May Expand as 19 Nations Request Membership, Official Reveals"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"float:left\"><div class=\"counts mashsbcount\">22<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fbrics-bloc-may-expand-as-19-nations-request-membership-official-reveals%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1919009&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><div class=\"post_content\">\n<div class=\"aplayer_app\" data-source=\"https:\/\/vs1.youmaker.com\/assets\/2023\/0425\/1840e483-6216-4128-a081-9c1dab9bad52\/audio.mp3?length=4433805&#038;duration=369\"><\/div>\n<\/p>\n<p>Get ready for some exciting news! With only a few weeks left until South Africa hosts the annual two-day summit of BRICS nations in June, it has been revealed that many countries are eager to join the bloc of emerging-market states.<\/p>\n<p>BRICS is made up of five countries\u2014Brazil, Russia, India, China, and South Africa\u2014with prominent emerging market economies.<\/p>\n<p>Anil Sooklal, South Africa\u2019s ambassador to the organization, <a href=\"https:\/\/www.bnnbloomberg.ca\/brics-draws-membership-requests-from-19-nations-before-summit-1.1911313\">confirmed<\/a> to Bloomberg on April 24 that 19 nations have expressed interest in joining.<\/p>\n<p>\u201cWhat will be discussed is the expansion of BRICS and the modalities of how this will happen,\u201d Sooklal said. \u201cThirteen countries have formally asked to join, and another six have asked informally. We are getting applications to join every day.\u201d<\/p>\n<p>In February, Sooklal told the business news network that there had been \u201cover a dozen countries that have knocked on the door.\u201d This included Iran and Saudi Arabia, who made formal submissions for entry.<\/p>\n<p>Russian Foreign Minister Sergey Lavrov also confirmed that a dozen nations expressed interest in joining BRICS earlier this year, including Bangladesh, Mexico, Turkey, the United Arab Emirates, and Venezuela.<\/p>\n<p>Since last year\u2019s meeting, there has been some debate about expanding the economic alliance.<\/p>\n<p>China proposed growing the number of BRICS countries, arguing that it would enhance its diplomatic power. However, some members oppose this proposal, fearing that additional nations would dilute their influence.<\/p>\n<figure id=\"attachment_4368017\" style=\"width: 640px\" class=\"wp-caption aligncenter\"><a href=\"https:\/\/img.theepochtimes.com\/assets\/uploads\/2022\/03\/28\/Xi-jinping-Vladimir-Putin-1200x800.jpg\"><figcaption class=\"wp-caption-text\"><noscript><\/noscript><\/figcaption><\/a> Chinese leader Xi Jinping and Russian President Vladimir Putin attend a meeting with members of the Business Council and management of the New Development Bank during the BRICS Summit in Brasilia on Nov. 14, 2019. (Pavel Golovkin\/Pool\/AFP via Getty Images)<\/figure>\n<p>The last time the bloc added a member was in 2006, when it allowed South Africa to join.<\/p>\n<p>Argentina has ostensibly been one of the interested parties.<\/p>\n<p>Argentine Ambassador to China Sabino Vaca Narvaja recently met with former Brazilian President Dilma Rousseff and Chinese Foreign Minister Qin Gang about gaining entry into the BRICS Development Bank, also known as the New Development Bank.<\/p>\n<p>\u201cAs [Brazilian President Luiz Inacio Lula da Silva] said during his recent visit to China, why can\u2019t we trade backed by our currency? I think institutions like the NDB help us to think differently, and meeting with Dilma was a great help in that sense,\u201d Vaca Narvaja said at an April 21 forum in Shanghai, according to local media <a href=\"https:\/\/buenosairesherald.com\/world\/international-relations\/argentina-seeks-brics-entry-with-china-and-brazil-meetings\">reports<\/a>.<\/p>\n<p>Russian President Vladimir Putin and Saudi Crown Prince Mohammed bin Salman Al Saud also spoke about several issues in an April 21 phone call, including \u201cprospects for cooperation\u201d between the BRICS and Riyadh, Russian news agency Tass <a href=\"https:\/\/tass.com\/economy\/1607813\">reported<\/a>.<\/p>\n<h2>The State of BRICS Today<\/h2>\n<p>In a March 26 <a href=\"https:\/\/onlinelibrary.wiley.com\/doi\/abs\/10.1111\/1758-5899.13195\">paper<\/a> published in the journal Global Policy, Jim O\u2019Neill, the former chief economist at Goldman Sachs, recommended the bloc bolstering the coalition. However, he also suggested that the pact adheres to the initial and primary criteria of promising economies and large populations.<\/p>\n<p>O\u2019Neill argued that the U.S. dollar maintains \u201ca far too dominant role in global finance,\u201d and an enhanced BRICS arrangement could enable the creation of a multicurrency international financial system.<\/p>\n<p>According to <a href=\"https:\/\/twitter.com\/RichardDias_CFA\/status\/1633880327478472705?s=20\">data<\/a> from Acorn Macro Consulting, BRICS states have surpassed their G7 counterparts in global GDP when calculating purchasing power parity (the prices of goods and services in different countries).<\/p>\n<p>The International Monetary Fund\u2019s (IMF) recent <a href=\"https:\/\/www.imf.org\/en\/Publications\/WEO\/Issues\/2023\/04\/11\/world-economic-outlook-april-2023\">World Economic Outlook<\/a> (WEO) also highlighted that the real GDP growth rate would be more robust for many emerging and developing markets than for advanced economies in 2023 and 2024.<\/p>\n<p>This year, China and India are projected to grow 5.2 percent and 5.9 percent, respectively. By comparison, the United States and Euro Area are forecast to expand by 1.6 percent and 0.8 percent, respectively, in 2023.<\/p>\n<p>Experts contend that the increasing might of BRICS could allow the bloc to establish a currency. One o<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>With only weeks until South Africa hosts the annual two-day summit of BRICS nations in June, one official revealed that many countries requested membership to join the bloc of emerging-market states. BRICS comprises five countries\u2014Brazil, Russia, India, China, and South Africa\u2014with prominent emerging market economies. Anil Sooklal, South Africa\u2019s ambassador to the organization, confirmed to<\/p>\n","protected":false},"author":278,"featured_media":1919010,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[543],"tags":[7915,9097,25126,7507,5771,4808,4451,5114],"class_list":["post-1919009","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-the-epoch-times","tag-expand","tag-bloc","tag-brics","tag-membership","tag-nations","tag-official","tag-request","tag-reveals"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1919009","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/278"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1919009"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1919009\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1919010"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1919009"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1919009"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1919009"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}