One country has abandoned its efforts to join BRICS.

Algeria has officially abandoned its efforts to join the BRICS group, although it will maintain its membership in the BRICS Bank (NDB), the Algerian newspaper El Moudjahid reported in late September, citing government sources.

This decision comes after recent reports that BRICS member states had once again approached Algeria about the possibility of the North African nation joining the group.

However, the newspaper El Moudjahid clarified that Algeria is no longer pursuing membership in the group led by China and Russia, with officials stating that “the BRICS membership application is closed for the Algerian authorities.”

Algerian President Abdelmadjid Tebboune had previously confirmed that his country would no longer seek BRICS membership, after failing to make the list of the six countries invited to participate in the bloc's historic expansion at the BRICS Summit last August in Johannesburg, South Africa.

BRICS, originally comprising Brazil, Russia, India, China, and South Africa, expanded in early 2024 to include Egypt, Ethiopia, Iran, and the United Arab Emirates (UAE). Russia holds the rotating BRICS presidency in 2024 and will host the summit in Kazan in October 2024. Photo: Tatar Congress

According to El Moudjahid, the main reason the Algerian government is no longer keen on the idea of ​​joining BRICS is that they see no clear reason for their exclusion last year and because of the "illogical choice," arguing that BRICS should have adopted a more inclusive approach.

Nevertheless, Algeria remains committed to its role in global economic frameworks and multilateral cooperation.

The newspaper El Moudjahid stated that "Algeria has truly turned a new page" regarding BRICS membership, while continuing to support multipolarity in international relations through other platforms such as the United Nations Security Council (UNSC) and the Non-Aligned Movement.

The article highlights Algeria's strong economic position, noting that the country has no foreign debt, possesses the largest land area in Africa, is rich in mineral and energy resources, and has an admired infrastructure across the continent.

Notably, in early September, Algeria was admitted to the New Development Bank (NDB), also known as the BRICS Bank, thereby strengthening its economic ties with the group.

Algeria's NDB membership, announced by the Finance Ministry on September 1st, allows the country to cooperate on key development projects in emerging markets, even as political disagreements hinder the North African nation's full integration into BRICS.

As a multilateral development bank, the NDB was established by the BRICS group of developing countries – Brazil, Russia, India, China, and South Africa – in 2015.

With its primary mission of mobilizing resources for projects in emerging markets and developing countries, NDB expanded its membership to include Bangladesh and the United Arab Emirates (UAE) in 2021 and Egypt in 2023.

Minh Duc (According to Middle East Monitor, Arab Weekly)

Source: https://www.nguoiduatin.vn/mot-quoc-gia-tu-bo-no-luc-gia-nhap-brics-204241003105307357.htm