At an interview on the South African Broadcasting Corporation on Tuesday, President Cyril Ramposa announced that Saudi Arabia is interested in joining BRICS, an economic cooperation organization made up of Brazil, Russia, India, China, and South Africa.
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"Crown Prince Mohammed bin Salman expressed the kingdom's desire to join the BRICS," the South African president said, adding that other countries are also interested in joining this organization.
"In 2023, the BRICS summit will be held under the South African presidency and this request will be studied. Several countries are in contact with the BRICS and we have assured them that the accession issue will be discussed and a decision will be made," Ramposa explained.
Among the nations that have already applied to join this international forum is Argentina, whose President Alberto Fernandez asked Chinese President Xi Jinping to join the BRICS.
Sabino Vaca, Argentina's ambassador to China, stated that the BRICS constitute an excellent cooperation alternative for developing countries given that the current world order has shown that it only works for the benefit of a few nations.
At their 14th summit in July, the BRICS countries discussed economic cooperation options related to the creation of a new development bank, the formation of a contingent reserve arrangement, an intercountry payment system, and a BRICS basket reserve currency.
Seen from the perspective of the global financial system, the consequence of those actions would be the gradual weakening of the U.S. dollar as an international reserve currency.