WANA Countries set for BRICS Membership

As a point of departure dear viewer the rise of BRICS and it's global impact seem to hit the Universe that some of the world's influential countries for diverse interest do not want to miss out on its membership. Membership in the BRICS is seen as admission to an exclusive club with the power to resurrect multilateralism. The BRICS membership offers the individual nations benefits related to trade and market access, foreign direct investments, and a stronger negotiating strength and voice in global problems. An increase in membership gives BRICS a larger foundation from which to interact with other regional organizations. The Beijing Declaration from the 14th BRICS Summit encourages member-to-member dialogue about the process of expansion. The document emphasizes the necessity of defining the guiding principles, standards, criteria, and procedures for this expansion process through the Sherpas' channel, based on thorough consultation and agreement. The growth process will, however, take shape in due time.
In 2010, South Africa was admitted as a member by Brazil, Russia, India, and China. It is now faced with membership petitions from several WANA region nations more than ten years later. Egypt, Turkey, and Iran were three of the next eleven nations listed by Jim O'Neill in 2005 as having the potential to have the largest economies in the twenty-first century. While Egypt is a potential NDB member, the three nations have expressed interest in joining BRICS. Furthermore encouraged by their excellent economic success, Gulf nations like Saudi Arabia and the United Arab Emirates are eager to join the alliance.



Abdel Fattah El Sis, the president of Egypt, said at the 2022 summit that BRICS is a forum whose standing on the global stage is improving daily. Iranian President Ebrahim Raisi urged the BRICS nations to fortify this international forum so that independent multilateral institutions may play an effective role in promoting peaceful global development. [vi] President Recep Tayyip Erdogan, who was invited to the 10th BRICS summit, said that he wished BRICS members would take the necessary steps to let Turkey enter the grouping. Turkey had previously expressed interest in an energy partnership through BRICS membership.
It is clear that the geo-economic dominance of BRICS has the potential to provide geo-political leverages. BRICS was founded with the goal of capitalizing on the grouping's overall economic power. Alongside the G20 summits, the BRICS leaders have been in conversation, and the BRICS foreign ministers have been meeting separately at the UNGA. The 2022 BRICS think tank forum's main objectives were to take advantage of growth possibilities, work together to address dangers and difficulties, maintain the momentum of cooperation, create a community with a common destiny for humanity, and positively impact global peace and development. While Turkey, Iran, and Saudi Arabia prioritize geopolitical concerns over economic benefits, Egypt and the United Arab Emirates are primarily interested in joining the BRICS group to advance their geoeconomic objectives.


Egypt is an important member of the BRICS; it has a wealth of natural and human resources and seeks to boost its economy through international investment. The Egyptian pound has declined since the upheaval, along with investment and tourism, which has pushed the nation to spend its currency reserves and reduce public subsidies. Cairo considers BRICS membership for economic stability even though it does not currently trade sufficiently with the BRICS nations. Notwithstanding the bilateral relationships that exist between Egypt and the BRICS nations, Egyptian exports account for less than 0.12% of total BRICS exports, 0.3% of the total BRICS imports, and 0.5% of BRICS agricultural imports, respectively.

Saudi Arabia, the United Arab Emirates, and China, among other nations, have recently expressed interest in investing in Egypt's energy sector. However, due to the economic crisis brought on by Covid-19 and the Russia-Ukraine war, Egypt's foreign reserves have decreased by 19%. As a result, Cairo is looking to achieve economic stability through the safety net provided by the Contingent Reserve Arrangement (CRA) of the NDB. CRA is a framework for assisting nations dealing with balance of payments challenges in the short term.