The BRICS alternative bloc, composed of Brazil, Russia, India, China, South Africa, Egypt, Ethiopia, Indonesia, Iran, and the United Arab Emirates, is now seeking to expand its reach and influence to other countries through BRICS+.
Konstantin Kosachev, a Russian Senator of the Federation Council, said the bloc will deploy this new initiative to put dozens of allied countries in direct contact with the organization.
Kosachev stated:
This will not be a closed association for BRICS countries and partners, but rather a broader platform aimed at including the maximum number of participants.
The Russian Senator noted that several nations, including China, Iran, the United Arab Emirates, Ethiopia, South Africa, and Brazil, the current president of BRICS, had expressed their support for the BRICS+ initiative. “Several other countries are still considering their positions, but in this case, as within the entire association, we do not impose our will or attempt to enforce a single discipline,” he clarified.
The idea would be discussed during the next Parliamentary Forum in June, where representatives of the member states and allied nations will be present. “We hope to reach some decisions to formalize this initiative on the platform of the Inter-Parliamentary Union during the autumn assembly,” Kosachev concluded.
The news hints at a new level of cooperation between the BRICS bloc and its allies centered in the BRICS+ initiative, which could be used to coordinate binding economic and governance policies seeking to strengthen the group’s position in the face of the current financial turmoil and market uncertainty.
Per Russian Foreign Minister Sergey Lavrov’s statements, these measures could include adopting a common payment system, which will also be available for countries outside the group.
Read more: Russia Expects BRICS Payment Network to Go Global—SWIFT’s Monopoly Under Threat
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