With the BRICS bloc set to expand its membership at its upcoming annual summit, two new countries have announced plans to join the economic alliance. Indeed, both Malaysia and Thailand have revealed interest and instituted plans to join the expanded collective.
The upcoming summit will see the bloc add to its current nine-country lineup. Last year’s iteration saw the bloc welcome the United Arab Emirates (UAE), Egypt, Ethiopia, and Iran in what was its first expansion effort since 2001. Now, they are likely to continue that expansion trend heading into this year’s gathering.
Also Read: BRICS Surpasses the US in Gas Trade to Europe
Malaysia and Thailand Announce Plans to Join BRICS Alliance
Over the last several years, the BRICS alliance has increased its prevalence in the geopolitical sector. It has sought to use expansion and de-dollarization to reshape global finance. Moreover, it has continually sought to implement a multipolar world that embraces greater participation and competition.
That is set to be enhanced by its growth plan, with the BRICS bloc seeing two new countries announce plans to join the economic alliance. Specifically, Malaysia’s Prime Minister, Anwar Ibrahim recently revealed that a request to join the bloc has already been filed to the grouping.
“We have made a decision [on the matter]. We will start going through the official procedures soon,” Ibrahim said, according to Russia State News. He added that they “are now awaiting the final results, the response from the South African Government.”
Also Read: BRICS: US May Sanction China as Alliance Keeps Ditching the Dollar
Malaysia joins Thailand as a nation also seeking entry into the bloc in 2024. The Southeast Asian country would be the BRICS’ first member state in the region and had also submitted a request for membership. According to reports, there are more than 30 countries seeking to join the bloc.
There are expectations that the bloc will expand its membership for the second time in as many years. The greatest question now is how many nations will be included, and what countries could be chosen? The answers should provide even greater insight into the bloc’s short- and long-term plans.