Former Ethiopian speaker of the house Agegnehu Teshager revealed that all African countries are interested in joining the BRICS alliance. His statement comes at a time when developing countries are looking to sideline the US dollar and use local currencies. Read here to know how many sectors in the US will be impacted if BRICS ditches the dollar for trade.
Developing countries are finding the BRICS de-dollarization agenda lucrative as the initiative can boost their native economies and local currencies. While many countries from Asia, South America, and Eastern Europe have expressed their interest in joining the BRICS alliance, African nations are sitting on the sidelines.
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All African Countries Want To Join the BRICS Alliance
The African continent is looking at how the global financial development plays out before deciding to join the bloc. However, Teshager confirmed in a press meeting that all African nations are interested in joining the BRICS alliance.
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“Africa is a great potential for BRICS, most African countries have an appetite to be a member of the alliance,” he said. The former speaker continued, “Africa’s economy is developing and the continent is interested in the BRICS alliance.” He made the comments at the BRICS parliamentary forum in Russia’s Kazan region.
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Around 40 countries have formally expressed their interest in joining the BRICS alliance in 2024, including many African nations. 15 other countries have informally expressed their interest to be a part of the bloc. The upcoming summit is scheduled to take place in October in the Kazan region.
Ethiopia is the new entrant in the BRICS alliance and is the second African nation apart from South Africa to be a part of the grouping. The bloc might invite many other countries during the 16th summit and expand the alliance in 2024. However, there is no clear information on which countries might receive the invitation.