Among countries of Middle East, interest in BRICS is growing

, in contrast to the dominance of the United States and other Western countries in international organizations and the world financial system among the countries of the Middle East, interest in the rapidly developing bloc – BRICS.

BRICS (English Brics – reduction from Brazil, Russia, India, China, South Africa) – interstate association, union of five states: Brazil, Russia, India, China, South Africa

The organization was founded in June 2006, as part of the St. Petersburg Economic Forum in order to promote economic and cultural cooperation between group members.

At the current stage of the country, BRICS is 40 percent of the world’s population, 25 percent of the world economy.

Another 19 countries show interest in joining Brix. Among the applicants for joining Brix Algeria, Egypt, Iran, Bahrain, Saudi Arabia and the UAE.

BRICS is characterized by the desire to form a global financial system, free from the influence of the United States and West, emphasis on multipolarity, the frequent use of alternative US dollar currencies in international trade. All this, as well as the membership of Egypt and the UAE in the new Bank of the development of BRICS (NBR), increase interest in the block.

The expansion of trade between the countries of the Middle East and the BRICS countries indicate the development of relations between them in the light of discourses about multipolarity.

Saudi Arabia is considered one of the most important partners of the BRICS countries in the Middle East due to an increase in trade with them in recent years. The total bilateral trade of Saudi Arabia with the BRICS countries increased from $ 81 billion in 2017 to $ 160 billion in 2022.

It is noteworthy that Iran and Saudi Arabia, who were striving in Brix, through the mediation of the PRC, restored diplomatic municipality after a seven -year break. This happened despite the fact that these two countries share religious disagreements and rivalry in the regional arena.

The entry into the BRICS has become one of the priority topics of the first visit of President Algeria Abdelmagu Tibbun to Russia on June 13.

The Summit of the Heads of State BRICS is scheduled for August 22-24 in Johannesburg. On the agenda of the forum – further expansion of the Commonwealth.

On the second of June, a meeting of Foreign Ministers BRICS was held in Cape Town. The meeting participants discussed topics such as multipolarity, the UN Security Council reform, unlawful sanctions and the creation of a single currency of the BRICS countries.