40 Countries Ready to Join BRICS? What to Expect in 2024 and Beyond

Rumors are swirling about a massive expansion of the BRICS alliance, with suggestions that 40 countries are ready to join. But what's the real story? While the idea of 40 countries joining BRICS in 2024 is overstated, the interest in becoming a member is undeniably high.

High Interest in Joining BRICS

Around 40 nations, including Argentina, Iran, Saudi Arabia, and the United Arab Emirates (UAE), have expressed interest in joining the group in order to diversify their economic and political partnerships. This widespread interest underscores the growing influence of BRICS on the global stage.

BRICS Expansion Plans: Looking Towards 2025

While a sudden influx of 40 new members in 2024 is unlikely, the BRICS alliance could announce another round of expansion in the upcoming 2025 summit. The 16th summit is scheduled to take place in October in Kazan. That being said, the BRICS alliance is likely to invite 5-8 nations to join the collective at the 2025 summit. Late last year, India’s officials disclosed the bloc’s agreement on the criteria and guiding principles for further expansion, paving the way for a more structured and considered approach.

Why the Interest in Joining BRICS?

Countries are seeking membership in BRICS for a variety of reasons, including increased economic opportunities, access to the New Development Bank (NDB), and a desire to counterbalance the influence of Western-dominated institutions. The allure of South-South cooperation and alternative financial mechanisms makes BRICS an attractive option for many nations.

The Future of BRICS: Expansion and Influence

The gradual expansion of BRICS reflects its growing significance in the multipolar world. While 2024 may not see a massive influx of new members, the foundation is being laid for continued growth and influence in the years to come. Keep an eye on the 2025 summit for potential announcements regarding new member invitations.