BRICS: 3 new countries have officially applied to join

In 2024, the number of countries showing interest in joining the BRICS alliance is growing significantly.

Three more countries formally applied for membership in the bloc this year. The decision on the inclusion of new members will be reached by consensus during the upcoming 16th summit, which is scheduled to be held in the Kazan region of Russia in October.

These countries are Zimbabwe, Cameroon and Pakistan. Each of these developing countries facing economic challenges sees BRICS membership as an opportunity to strengthen their economies.

However, their current proposals to the alliance are perceived as limited, potentially hindering their chances of acceptance. Their reliance on the alliance for economic progress without significant input could affect their prospects for accession this year.

Given BRICS' past tendencies to include oil-rich countries to leverage their energy sectors against the US, the inclusion of economically weaker countries may face obstacles. The bloc's strategic currency moves and sectoral impact on the US economy are being closely watched, particularly as it relates to the impact of a potential move away from the dollar.

Additionally, India is concerned about Pakistan's bid for BRICS membership, especially given that Pakistan is allying itself with Russia and China in this pursuit. Since membership decisions are based on consensus, India is likely to oppose extending an invitation to Pakistan.