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| More and more countries want to join BRICS. (Source: Reuters) |
Commenting on the issue, Prof. Fulufhelo Netswera, Head of the Faculty of Management Science at Durban University of Technology in South Africa, said that the push by non-BRICS countries to join the group may be partly due to the group's stance in support of multilateralism.
According to Mr. Netsweram, the BRICS group - consisting of five emerging countries: Brazil, Russia, India, China and South Africa - is becoming particularly attractive to many countries because of its stance in favor of multilateralism regarding geopolitical and economic issues.
“There are currently 20 potential candidates for BRICS membership, but it is understood that if the door to joining the bloc is opened, many more countries will quickly apply,” the professor said.
The BRICS group accounts for about 30% of the global economy, 26% of the world's territory and 43% of the world's population, producing more than one-third of global grain output.
BRICS has also established the New Development Bank (NDB) with a total capital of $100 billion to finance infrastructure and sustainable development projects in member countries, as well as other emerging market economies and developing countries.
In 2021, the NDB Board of Governors approved the admission of Bangladesh, the United Arab Emirates (UAE), Egypt and Uruguay to the institution, marking the beginning of the expansion of the NDB as a global multilateral institution.
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