BRICS: 2 New Developing Countries Apply To Join Alliance in 2024

Vinod Dsouza
BRICS Countries Leaders
Source: DIRCO/GovernmentZA)

A handful of developing countries are knocking on the BRICS door in 2024. After the expansion in 2023, newer countries are eager to join the bloc and be a part of the decision-making. The alliance is creating a path of its own by cutting ties with the US dollar and uplifting their local currencies and native economies.

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Read here to know how many sectors in the US will be affected if BRICS ditches the dollar for trade. Local currencies could begin to strengthen and developing countries could be on the front seat of the global economy. This is the idea that’s attracting developing nations to join BRICS in 2024.

Since the last month alone, two new countries have formally submitted their applications to join BRICS in 2024. The number of nations that are looking to join the alliance is only increasing after the expansion in 2023. The development shows that the bloc wields power and could challenge the US dollar’s hegemony in the coming decades.

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2 New Countries Apply To Join BRICS This Year in 2024

brics 15 summit leaders
Source: AFP

The two new developing countries that have applied to join BRICS in 2024 in the last two months are Malaysia and Thailand. Thailand’s interest in joining BRICS aligns with China’s goals of expanding its economic influence through the Belt and Road Initiative (BRI).

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A Thailand spokesperson said that the country wishes to join BRICS in 2024 to “play more roles, promoting Thai potentials to co-play the roles with developed nations and underdeveloped nations to provide guidelines for global community development to promote justice and equality”.

Malaysia is also looking to join the bloc to enhance its economic conditions and forge new partnerships with other countries. In total, around 40 countries from Asia, Africa, Latin America, and Eastern Europe have applied to join BRICS in 2024.