Catenaa, Tuesday, August 12 2025- The BRICS economic alliance has grown from five founding nations to 11 full members, with 32 additional countries seeking entry in a bid to reduce reliance on Western-led financial systems.
Saudi Arabia completed its membership in July, following earlier additions including Egypt, Ethiopia, Iran, the United Arab Emirates, Indonesia and others.
The bloc, now representing over 25% of global GDP and nearly half the world’s population, has also designated 13 partner nations such as Belarus, Bolivia, Nigeria and Thailand.
Of the 32 interested countries, 23 have formally applied.
Key candidates include Bahrain, Malaysia, Turkey, Vietnam, Sri Lanka, Mexico, Kuwait and Uzbekistan, many eyeing alternative financing through the BRICS-led New Development Bank.
Oil-rich Bahrain and Kuwait could bolster the bloc’s energy influence, while Mexico offers a potential gateway to Latin American markets. Belarus presents a strategic Eastern European link.
At the July summit in Rio de Janeiro, leaders discussed entry criteria, though notable absences included China’s Xi Jinping, citing scheduling conflicts, and Russia’s Vladimir Putin, participating remotely amid legal concerns.
Internal differences persist, with China and Russia pushing rapid expansion while Brazil and India prefer a measured approach.
The New Development Bank has financed $32 billion in projects since 2016, providing local currency loans to reduce dollar exposure.
Western leaders, including US President Donald Trump, have criticized the bloc’s influence, with Trump threatening tariffs.
UN Secretary-General António Guterres framed the expansion as a step toward multipolar governance.
