If the alliance expands, it would account for around 40% of the world economy
The BRICS states would account for around 40% of the world economy if the new members - Saudi Arabia, Turkey, Egypt and Algeria - were to join the alliance. This is shown by TASS calculations based on IMF data for 2022.
If GDP is counted at purchasing power parity for these states, the figure would exceed 38.2%. They also account for 45% of the world's population and 37.5% of the landmass.
An exclusive commentary on the possible expansion of the association was given to TV BRICS by a representative of the Lomonosov Moscow State University in the International Thematic Group on BRICS Studies within the BRICS Network University Oleg Alekseenko. The expert described whether the objectives of the BRICS member states would change with the inclusion of new states in the alliance.
"I think there will be minor adjustments. But fundamentally, everything will remain in place, both in strategic and priority goals. The core message of BRICS will not change with the inclusion of new members"Oleg Alekseenko Associate Professor, Department of Global Processes, Moscow State University
He pointed out that BRICS is valuable for its network diplomacy, as each state is a major regional player with its own organisations and linkages that can relay ideas to its partners.
According to the expert, the BRICS membership will be significantly expanded in the next five years. And if the bloc were to include a state representative of the Islamic world, "it would be a breakthrough in terms of civilisation".
Oleg Alekseenko also stressed that the economic potential in the BRICS+ format would be substantial.
"BRICS+ will definitely herald the emergence of an alternative financial system backed by the NDB and the Foreign Exchange Reserve Pool," he said.
As a reminder, Algeria has formally applied to join the BRICS group. Iran and Argentina have also applied for membership this year, while Cairo, Ankara and Riyadh have also announced plans to become part of the association.