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New Chapter for the BRICS: The Alliance Will Expand to 17 Members by 2024

Fri 22 Dec 2023 ▪ 3 min of reading ▪ by Luc Jose A.
Getting informed Event

The BRICS have co-opted several countries this year. A historic geopolitical moment set to continue into 2024. An official from the group revealed that six new countries will join the organization next year.

Logo of the BRICS, which will welcome new members in 2024

The Six New BRICS Members of 2024 Remain Unknown

Following their recent annual summit, the BRICS unveiled a revolutionary expansion initiative extending the alliance to include six new countries. Recent developments suggest this momentum will continue next year.

According to recent statements by Subrahmanyam Jaishankar, the Indian Minister of External Affairs, the BRICS are committed to expanding their reach. They have reached a consensus on expanding the group at their next plenary meeting.

Subrahmanyam Jaishankar has stated that a group of six new states is expected to join the BRICS in 2024. However, the official did not specify the countries concerned by the upcoming expansion.

For now, it is known that at least 40 countries are interested in joining BRICS. From this total, Iran, Saudi Arabia, the United Arab Emirates, Ethiopia, Egypt, and Argentina were initially considered, with the latter declining the offer after Javier Milei came to power.

BRICS confirms the addition of six new members in 2024

Are the BRICS Determined to Reshape Global Geopolitics?

This development seems to be in line with the goals pursued by the BRICS so far, namely to promote a multipolar and more inclusive world order. The ultimate goal is to challenge the dominance held by a small number of Western nations.

The addition of a new state conglomerate can be seen as a means of achieving this end. Moving away from the dollar, launching a common currency, possibly with a cryptocurrency option, are other levers activated by BRICS to realize their plan.

Commenting on this development, Subrahmanyam Jaishankar emphasized the alliance’s commitment to challenging the current Western-centric global power structure. A situation that has so far suppressed or nearly annihilated the legitimate interests of other peoples.

Ultimately, the organization seems to have found the necessary formula to maintain unity within its members. Not so long ago, some potential rifts within BRICS fueled by suspicions of a desire for hegemony by China had surfaced. A hypothetical split that would play into the hands of the Americans, many of whom do not view the BRICS as a threat to the United States.

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Luc Jose A. avatar
Luc Jose A.

Diplômé de Sciences Po Toulouse et titulaire d'une certification consultant blockchain délivrée par Alyra, j'ai rejoint l'aventure Cointribune en 2019. Convaincu du potentiel de la blockchain pour transformer de nombreux secteurs de l'économie, j'ai pris l'engagement de sensibiliser et d'informer le grand public sur cet écosystème en constante évolution. Mon objectif est de permettre à chacun de mieux comprendre la blockchain et de saisir les opportunités qu'elle offre. Je m'efforce chaque jour de fournir une analyse objective de l'actualité, de décrypter les tendances du marché, de relayer les dernières innovations technologiques et de mettre en perspective les enjeux économiques et sociétaux de cette révolution en marche.

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The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.