Two countries apply to join BRICS — Analysis

Iranian Islamic Republic has submitted an official application for membership to the Group of Five Emerging Countries, which includes Brazil, India, China and South Africa. The foreign ministry of Tehran made the announcement Monday. This comes just weeks after President Iran addressed the BRICS Summit.

BRICS has a history of cooperation, even though it isn’t a formal treaty bloc. “very creative mechanism with broad aspects,”Saeed Khatibzadeh was the spokesperson of Iran’s Foreign Ministry, according to Tasnim news agency. He also said Tehran already has a nuclear agreement. “a series of consultations”Discuss the application with BRICS

Iran’s membership would “add value” for everyone involved, said Khatibzadeh, noting that BRICS members account for up to 30% of the world’s GDP and 40% of the global population. 

South American nation wants to join BRICS

On Friday, Iranian President Ebrahim Raisi addressed the BRICS virtual summit hosted by China, and expressed Tehran’s readiness to share its capabilities and potentials with the group. 

Argentina applied for membership in BRICS. President Alberto Fernandez on Friday urged the creation of cooperation mechanisms that could represent the alternative to ostensibly private institutions run by – and in the interest of – the West.

The Russian President Vladimir Putin spoke out during the Wednesday session, stating that the five-members were working towards a new global reserve money “based on a basket of currencies of our countries.”

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